What You Need To Succeed As An Entrepreneur, by Iornem | Independent Newspapers Limited
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What You Need To Succeed As An Entrepreneur, by Iornem

Posted: Jul 1, 2015 at 12:48 am   /   by   /   comments (0)

In today’s Nigeria, unemployment is a big issue and the different tiers of government are formulating and implementing policies to remedy the situation.

However, the situation has pushed many people, who otherwise would be in paid employment, to become entrepreneurs and create employment for others in the process.

Director General, Institute of Management Consultants, Nigeria, David Iornem, has outlined what he described as the chrematistics that one must possess in order to become a successful entrepreneur.

He said some of the characteristics include determination. Come rain or shine, you must go on. You must persevere and keep knocking even when things are proving difficult.

He urged would-be entrepreneurs to take pride in being self-employed, adding that entrepreneurs are important society members and that one should be proud to be one of them.

He asked would-be entrepreneur to be interested in people and the service they offer to society.

He advised budding entrepreneurs to be pushy and have the drive to succeed, adding that they must have faith in themselves and in what they do. “You can succeed. It is possible. Don’t doubt yourself at any time,” he stated.

Critical Steps In Going Into Business

Iornem, who is a professor, listed steps in going into business.

He said, “Decide to start. Full blast or moonlighting, i.e., staying in your present job while you try your hand on the business, using your spare time.

He urged new entrepreneur to be ready to work 10 to14 hours a day for seven days a week. “It is hard work. Nobody should deceive you. But the benefits are great …if you persevere,” he added.

He also recommended that entrepreneur get into good shape by eating well because they need good health to thrive. He asked them to   make pessimistic cash forecast and not to be too optimistic when calculating the returns, adding that results would come only gradually.

He told new entrepreneurs to get their spouses to accept what they have so as to continue to exhibit loyalty and love to their spouses on a sustained basis. He asked them to remember that when difficult times come, the spouse is the only one who really cares and supports…in most cases.