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ENTREPRENEURSHIP



Let me start by borrowing the popular phrase “Entrepreneurship is not from an idea to a project, It is from a problem to solution” by Dr. Claudelle Noumbissi.

Identify an external problem, work towards solving it, develop a sustainable solution, test it with your entourage, sell the solution to others facing the same issue. 


10 WAYS ENTREPRENEURS SHOULD THINK.


  1. To win more, find out how things work. Create Solutions to problems while using as few resources(financial, time, etc) as possible(cheap but rich solutions).

  2. Use your brain to the fullest. Else you'll be overcome by machines and Artificial Intelligence (which are faster, more efficient, and don't receive a salary like you, etc). Update yourself with the internet else you'll become obsolete.

  3. Form a good team with whom to tackle the project with. While recruiting, in order not to end up with a funny group, identify people with similar goals, whose personal dreams tie with the company's dreams. If you fire people, the problem ties with yourself as you didn't place the right criteria while recruiting.

  4. Strategically Identify the target audience for whom you're trying to solve the problem, and find the most cost-effective way to get your solution to them. Get your solution to the right audience else you'll make more losses. Don't target everybody at the start. Segment the audience, Choose the desired segment, Position yourself strategically to attack that selected segment. Figure out how you'll get the solution to the desired segment. Have a good message to be delivered by a good messenger.

  5. The most effective formula to conquer your market sphere or niche as proposed by Dr. Claudelle Noumbissi is 

X=Y+Z. Where  X represents Problem Identification, Y is Select Audience Segment and Z is Communication ( Effective Delivery Method to selected Segment)


  1. Finish all the above and UNDERSTAND the Business Model before INVESTING in a project, else you're on your way to failure. Be unique.

  2. Use the Piecemeal conversion method. This means that you should divide your finances by 10 and first invest 10% of it in order to give yourself the luxury of failing 10 times. If you fail(and you most likely will), find out why, correct yourself, and attack it the second time till you win. This will permit you to quickly obtain priceless experience and know-how, and if God Willing, a Business. Many will tell you to take big risks and put in everything you have. Don’t be fooled. Just like Dangote will say it,” TAKE CALCULATED RISK”.

  3. You CANNOT stand alone. Form a Mastermind Alliance with like-minded people. Do all these while developing your network. Build GOOD Business RELATIONSHIPS. You learn by doing it yourself and experimenting as well as from others, if not you’ll find yourself LOST.

  4. Fear is a piece that cannot be undermined. Learn how to control your fears and use them as a torch to guide your way. Face all your ventures and endeavors with courage. The rest will come as you want it. Find and maintain your internal and external motivation. “A leader is called to lead at the moments when times are tough and not the other way round” by VUSI THEMBEKWAYO. Be there all the time and make sure things workout no matter what.

  5. As an entrepreneurial leader, utilize the emotional side of your co-workers and create a space where you all can work efficiently. Always ask why your teammate did whatever He or She did? Don’t be too rudimentary, be flexible, and know that not everybody is the same. Work as a team.


Be Resilient and Consistent: Try new things, Fail, Wake Up and Keep On.


Author: MBUN RYAN T. 

Comments

  1. Mahatma L.30 January 2021 at 09:48

    Sir Ryan I find These 10 rules you’ve so well outlisted paramount for long term growth. Each and every one of us Africans should know this before investing ourselves in to any venture.Thanks a lot

    ReplyDelete

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