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    Saturday, 25 February 2017

    5 key’s to Entrepreneurial Success

    Over the past few years, grow think business plan writers have had the opportunity to assess the success and failure of numerous entrepreneurs. In doing so, several lessons have become apparent that can often make the different between success and failure in entrepreneurial ventures.
    An entrepreneur can be defined as an originator of a new business ventures or a manager who tries to improve an organizational unit by initiating productive changes. He is often characterized as an innovative, independent, optimistic, creative and hard working. Here are five keys to make you a successful entrepreneur:

    1.    MIND POWER
    The first and most critical skill for entrepreneurial success is reaching to the customers. In researching you have to persuade this, because without the ability to promote entice, seduce, attract, sustain, hold, serve, provide an experience, no entrepreneur survives. The smartest invention on earth will draw no business if it is not presented in a way that fills a need and so for an entrepreneur this must be considered as to avoid down fall. Sales and marketing are so critical, the entrepreneur often loses authenticity in life because they don’t know when to stop selling and tweaking the truth.
    Eventually, they bring these skills some, start selling lies to partners, families and friends. As an entrepreneur you must separate the skill of marketing and sales from reality. This separation requires mind power both in the skill to seduce and the skill to be authentic.

    2.    FOCUS
    The word “focus” simply cannot be said enough. When lunching and growing a venture, thorns of opportunity and obstacles arises.
    Entrepreneurs that succeed are typically the ones that see the tree from the forest. They remain focused on the prize. They consider new opportunities, but note that pursuing them often takes away from accomplishing what they set to do.

    So, you have followed the first two lessons. You have hired great people. Now, it is important to effectively communicate and by effective communication, there must be a feedback. The laser sharp focus and goals must be communicated to the great team.
    Management must share information, instill company values and vision, discuss each employee’s performance with them and make employee’s fell that they are the company and the company is them.

    4.    INTUITION
    I was asked to give advice to great cleaver entrepreneurs but I have discovered that really the clever ones are not asking for advice, what they actually do is testing their intuition. They may call it a gut or a fifth sense (again depend on gender) but ultimately great entrepreneurs listen to but don’t blindly trust their gut, they listen, test then act. One thing that kills intuition quality is stress, but its not the stress alone that does the damage. It’s what entrepreneurs do to cut the stress that kills their intuitions (e.g drinking booze)

    It has been said that one of the major reason ones business succeeds over other people will always go back to where they were treated best; this usually goes with the phrase “a customer is always right” you should become obsessed with your customer; his wants, needs, desires, interest and problems. Think of what he is willing to pay for, work towards giving him the best.

    In conclusion, I would like to advice graduates to be creative, productive and independent, for the country is moving with its trends of which entrepreneurship will be the only acceptable business of the day. Do not spend your time waiting for a white collar job or fold your hands and wait for manner to fall from heaven. Try to create something new, be original in thinking. If you are confused of where to start, start from the scratch, for it is said “a journey of a thousand miles begins with a step”. The following are the list of some famous entrepreneurs:
    a.    Bill Gate – Microsoft
    b.    Mike Adenuga – Telecom, Banking
    c.     Larry Elison – Oracle
    d.   Rober L. Johnson – Broadcasting

    Written by Ezeh Mercy Chinedum

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