If you are planning to become an entrepreneur and start your own business before you jump into anything, I would like you to read this article. It is no secret that most people that set out to become an entrepreneur fail and if you’re not careful and follow their pattern you will also fail.
The main question I would like to ask you before I continue is do you want to become an entrepreneur?
If your answer is yes then this is what I want to tell you that being an entrepreneur is not for the faint of heart.
It is estimated that over 80% of new start-ups fail in their first 3 years and this might not be because of lack of proper planning but due to the risk attached to starting a business.
This is the main reason why most people chicken out of starting a business and prefer to work a 9-5 job for the rest of their lives just to earn a salary.
As a new start-up entering into the business world you must know that there are other top companies that are into the same niche as you and have been on for a long period of time. These companies can be said to be your competitors.
That means you will have to compete with them for clients, advancement in new trends and technology and if you are not careful they can swallow you up using their wealth of experience.
The question here is what can an entrepreneur do to succeed and I will highlight them below.
Work For Someone Else
What we see most times is people waking up and dashing into becoming an entrepreneur probably because they went to a business school or read a book about a certain business then they believe they are experts and after a while, the business closes up.
There are lots of things that go into becoming an entrepreneur and building a business that will survive the test of time.
If you just jump into starting a business without working for someone as an employee or an apprentice there are lots of things you will not get to know such as how to get customers, how to communicate with your customers, the right people to hire and so on.
The beauty of working for someone before starting your own business is you get to learn all these things and more. No wonder the Igbo succeeds more in starting a business.
The knowledge you will acquire does not come in one year, it takes a lot of years in the business to get to know all you need to know to venture into your own business.
So whatever business you have in mind to start, it is best you find a business you can work or serve so as to get all the experience and skills needed to start your own.