It is every young entrepreneur’s dream to succeed in his endeavors and also to become an expert in his chosen field. However, a lot of entrepreneurs who started off with great enthusiasm, relented and even give up along the way after facing few challenges.
I would like to resound this, the journey to becoming a successful entrepreneur is a narrow road that only a few can walk. The entrepreneurship journey is a dreadful and lonely path that only the brave dare to take.

Our present world seems to have cajoled most young entrepreneurs to focus on the additives of success, rather than success itself. The Social media has limited the definition of success to the glamour, fast lane and jet life cruise.
With my little experience in the business world, I have learnt some hard truth about entrepreneurship and these are some of the things no one would really tell you until you venture into business and experience it for yourself. There are so many audio successful entrepreneur out there, whose success is only on social media but are living a stranded, frustrated and bitter life in the real world.

I do not subscribe to the “Fake it till you make it scheme”. I believe that there’s a formula to success and when applied, success is predictable.

FEW POINTS THAT GUARANTEE TRUE SUCCESS IN BUSINESS

You give life to your ideas when you write them down. A good business plan serves as a map for your business. Therefore it is essential that you pen down your ideas, goals, objectives, your core business principles, marketing scheme, financial budget, inventory management etc in a note.

1. HAVE A GOOD BUSINESS PLAN
A plan is a detailed proposal for doing or achieving something. You do not have to design a sophisticated plan. Just have a blue print of your next moves.

An idea written down on paper is worth more than ten in the mind”.

2. PICK A MENTOR
A mentor is your method and compass in the world of success. You can do it on your own, but you would achieve greater with a mentor.

3. DO YOUR HOME WORK
Ensure you study to know and understand your new business. It is important you know that this is never a one time event that you do but rather a continuous and conscious every day activity.

4. KNOW YOUR COMPETITORS
Know the big boys in your industry. Don’t join the league of young entrepreneurs that get frightened by big competitors, rather be challenged by them to outdo your yesterday. Competitors are not threat but rather motivators. You don’t fold your arms, expecting all information about your industry to fall at your footstep.
You have got to go out,and do your SWOT.

5. RAISE CAPITAL
Business capital can never be downplayed upon. It forms an integral part of every business. It is the lifeline of every business therefore it’s important you know how you can raise some money for your business.
a. Personal savings
b. Friends and Family
c. Crowd funding site in Nigeria –
Kickstarter, CircleUp , Indiegogo, Naijafund, Gofundme, Crowdfunder etc
d. Business grants in Nigeria
Africa Young Entrepreneurship Empowerment Nigeria (AYEEN), Tony Elumelu Entrepreneurship Programme (TEEP), The Next Titan etc

6. GET YOUR BUSINESS REGISTERED

7. OPEN A BUSINESS BANK ACCOUNT – This is to help you manage your business finance as an individual entity.

8. AVOID EXTRAVAGANT SPENDING

9. PAY YOURSELF, INCLUDE YOURSELF ON THE PAYROLL

10. BRANDING AND PROMOTION
Branding is not a new term to you I believe. This is how your business is perceived by the outside world. It’s the image representation of your business. You don’t want to go about this anyhow.

a. Get a catchy, simple, distinct, and easy to remember business name

b. Design a good and simple logo.

c. Smart and few wordy business card.

d. Create awareness on social media

Most startups neglect this, while others abuse it. They forget that their social media presence is an extension of their business. Ensure you give a detailed information about your business stating clearly what you do and your uniqueness in your social media business account bio.
Don’t use different names on your social media handles. Don’t use difficult names to pronounce or remember.

e. Add your business on Google my business.

11. TEST RUN THE BUSINESS IDEA
You can start by selling to your immediate cycle. Sell to your friends and family. Then sponsor an advert on Facebook.( I choose Facebook because their advert rate is cheaper). Entertain review and comments from people.
Now get back to work after receiving the reviews to see if people really need what you are offering, whether you are targeting the wrong audience or offering the wrong product or service.

12. After doing all these- I wish you a successful LAUNCH.

All these does not guarantee success, but they make good success predictable.

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