Blog

Entrepreneur Chef

Becoming a Successful Entrepreneur

Entrepreneur Chef

Some people already have their mind set on becoming entrepreneurs while others have not arrived at that decision yet. Many become entrepreneurs because of their inability to secure white collar jobs which is not a bad thing rather its a great thing because it affords you the opportunity to become your own boss and with the right moves become very successful entrepreneurs.

The first step in becoming an entrepreneur is to pay attention to your environment. Look around you, take note of the problems around you, how does these problems affect people?, how willing are people to pay for a solution to this problem? What market segment can you target that will bring you the you the most benefit?. To be able to do this you have to talk to people and get their opinions; friends, family, colleagues and entrepreneurs with more experience. Read business related books and articles. You can also explore social media and visit different business pages on Facebook, Twitter, Instagram and Google+

After gathering enough information and doing your research, you should have a clear picture of that you want to do. Usually at this stage many people are overwhelmed and start to overthink/ over-calculate. Doing this gets many people scared and start to have doubt regarding starting the business. Doubt could be; not having enough capital, timing not being right, there are already people rendering this service, people might not like my service or product, people won’t be willing to pay for my service or product….. and the list goes on. To move on as an entrepreneur you have to overcome all this self-doubts, set the doubts aside and JUST DO IT!

One way of doing this is to “JUST DO IT” Start, do a test run with the resources available to you because if you don’t test run there’s no way to know for sure. Doing a test run gives you a heads up and a leverage. Test running will help choose your mode of advertisements, market segmentation and most importantly help in drawing your business model/ plan.

Remember

  1. Get over the fear and anxiety; anything that suggests that you shouldn’t do it, get rid of the thought and get on with it!
  2. Don’t over complicate things, just Keep it SImple Stupid! start with an MVP (Most Viable Product); make a list and start with the very basics that solves the initial basic problem and move on from there.
  3. Make whatever you want to do BEAUTIFUL.
  4. You are stronger than you think. You are smart enough to change the world for the better.
  5. If the situation gets critical, maybe intense…. take a step back, relax, take a coffee or tea (or whatever fluid does it for you), chill, sip refresh your mind and memory, recount your steps and determine your next step… If this doesn’t work; just take a cold bath, sleep, when you wake up you will most likely get an epiphany.
  6. Do it with love and care
  7. See 1-6.

 

 

Afrcan Entrepreneur Woman

8 Ever Green Tips For Small Business Owners In Africa

Afrcan Entrepreneur Woman

By: Benahili Ojeme

While the idea of increasing your earning capacity by becoming an entrepreneur in Africa may seem enticing, many factors often hinder the growth and enlargement of African startups. These factors may include research limitations, inadequate capital, lack of government support and of course, the unavailability of adequate technical and technological infrastructures.

Despite these circumstances, a few African entrepreneurs have defeated the odds and established globally recognized multi-million dollar companies. When asked how they achieved this, they all seemed to provide the same answers!

Here are eight useful tips to help grow your small African owned business into a global sensation.

1. Plan And Execute

A significant cause of unproductivity in most small businesses is the lack of a defined starting point, midpoint, and endpoint. Setting goals helps identify the exact actions you need to perform to get some work done. Make your company’s goals S.M.A.R.T, i.e., Specific, Measurable, Achievable, Realistic and Time-bound. To achieve this, you need to evaluate and reflect on where you are and where you want to be. Find out the steps that’ll get you there, define them clearly, outline your goals and make them S.M.A.R.T.

2. Assemble A Solid Team

Your Team is the foundation of your business. Investing time in bringing together like-minded individuals dedicated to actualizing your company’s vision is very important especially in your company’s infant years. After putting together a team, it is essential to maintain a healthy relationship with them having in mind that because they are human beings, they also crave friendship and positive interaction.

3. Provide A Positive Work Environment

The lack of attention paid to the working environment in most African businesses is the number one cause of unproductivity. If your work environment is messy, unhealthy or disorganized, fix it immediately. The calmer your situation, the easier it is to concentrate.

4. Enjoy The Process

Almost every business expert stresses the importance of celebrating your company’s milestones and enjoying your growth process. Whether it’s celebrating getting your company registered, or securing your first office space, it always pays to take a step back and reflect on how much progress you’ve made. This habit helps not only the business owner but the employees, as it inspires everyone to work harder and look forward to accomplishing more goals as a team.

5. Follow Required Protocol

While it may appear more convenient to disobey government policies and bypass protocol, successful African business owners think otherwise. Although the process of getting your company registered or adhering to tax laws may not be favorable, especially in your company’s infant years, It’s worth it in the long run.

6. Be Accountable

Instant gratification is a threat to both human and organizational endeavors. It is essential to document every transaction your company makes in its early stages. Most financial organizations that issue out loans and grants have made this a requirement because it shows how fast a business is growing.

7. Stay Informed

Be mindful of the effects of changes in the economy on your company. It is also critical to pay attention to technological advancements in your field, new ideas, techniques, and whatnot. Take courses and encourage your employees to do so as well.

8. Develop Marketing Strategies That Suit Your Demographic

Research your target audience and draw up a strategy on the best way to reach them. If you can not afford physical banners and billboards, running sponsored adds on facebook, twitter or Instagram may be just what your business needs. If you can not afford to pay a professional to manage your campaign, consider taking an online course on social media marketing.

The last piece of advice we have for our upcoming multi-million Dollar businesses is never to give up.