SO YOU CALL YOURSELF AN ENTREPRENEUR?

Being an entrepreneur is serious business. It demands a lot of mental maturity. You cannot be cajoled into it; it is a conscious choice you make. As a matter of fact, entrepreneurship is a life in itself; it has a way of affecting every other area of your life. The question you may want to ask is: what are the key demands? There are three dominant ones: it requires intelligence, focus, and passion. This simply means the reason most businesses fail in the first year is because the entrepreneur either doesn't have these qualities, or he has been reduced to ground level by any one of the following mistakes... Listen to his lamentations...

I DON’T HAVE A BUSINESS PLAN:
The Holy book advices: “Write the vision... Make it plain, so that he that reads it can run...” It also says in another portion: “will any man embark on a journey without first counting the cost...?”

I WANT TO BUILD AN EMPIRE OVERNIGHT:
Real success wouldn’t come as a result of the quantity of deals you are able to secure, but by the excellent outcome of every deal that comes, they all add up. Good name is everything that matters in business; nothing substitutes for integrity and uprightness. I have great respect for entrepreneurs who are rich in contacts and are in good relationship with them. Folks, you don’t get contacts because of your skill proficiency, you get them by means of your integrity consciousness. A satisfied customer wouldn’t mind being a personal friend, no matter how well-off he or she is.

I AM WASTING RESOURCES

One other common mistake many young companies and entrepreneurs make is trying to appear bigger than they are by hiring too many [and unnecessary] employees, and getting a lavish office. A young entrepreneur who is yet to build his business’s foundation hires a personal assistance, a receptionist and a cleaner. One thing is clear: this fellow is just being insensitive and numb to the future of his business.

I AM RUNNING OUT OF CASH:
I have always said that failure is predictable. The Holy book says: “Seeth thou a man diligent in all his ways, he shall stand before great men?” I like to rephrase that portion for the benefit of all my patients in this business clinic: “Seeth thou a man without have a business plan, without good sales projections, without good budget for expense, he shall be a failure in business...”

I DON’T HAVE A CONCRETE MARKETING PLAN:
How did you ever think you will succeed without it! How are you going to reach your customers and target market? One thing I have learnt in business is that customers don’t look for you, you look for them, especially if you are just starting – you hunt for them!

I AM NOT CREATING A DISTINCT BRAND:

One of the greatest injuries you can inflict on your business is to effortlessly and passionately build a company that is exactly like somebody else’s. I dare ask you: “Who are you? Why should I buy from you and not from someone else? What makes you unique?” Friends, you must make sure you have a brand that reflects these traits, and you will be a winner. Your message must be in the heads of your customers.

I DON’T HAVE PASSION FOR THIS:
Passion is the fuel in your entrepreneurial car. A passionless man is a motionless man. Passion is everything! Host of TV series: The Apprentice, Donald Trump, one said: “If you are not passionate about what you are doing, do something else.”

I QUIT:
To begin with, I hate quitters! Nothing irritates me like a ‘quitter’. There is nothing great that comes cheap. You don’t stroll into success; you fight your way in. How dare you quit because of a few rejections and brick walls?