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Tuesday, 7 May 2019

THE ESSENCE OF ENTREPRENEURSHIP

Photo credit: freeimageslive

By ZOE OLUWABUSAYO

Often, entrepreneurs forget the reason they are in business, especially when they are either struggling to stay afloat or when they have reached a certain height of success. When some entrepreneurs have climbed unto several rungs of the business ladder and have become known, enjoying some variety of success, some tend to lose the focus of what got them to that height in the first place.

On the flip side, when an entrepreneur is still struggling to gain ascendency in his venture, the temptation may come to water down on his products/services to make more profits or lose the character-building process that comes with building an entrepreneurial venture from the ground up.

Whatever side of the divide the entrepreneur falls, he must fully understand what got him started in the first place, which is to solve a human problem and deliver premium quality product/service, and that must never change irrespective of the level of mastery he has gained.

The essence and essential of entrepreneurship is mainly to provide a product/service for the benefit of individuals; for the convenience and improvement of the quality of their living.

Entrepreneurship is a continuous process in which the entrepreneur will keep re-inventing his products/services for the benefits of humanity; however, he must never lose sight of why he started the venture in the first place. There will definitely be changes in taste and preferences of consumers which will demand newer products to satisfy their taste/longing but there must never be a change in the reason for the existence of the business, which is why succession planning is very essential in the building up of a business. Succession planning must never be left to the subject of chance; it must be built in the mechanisms of the daily function and processes of the business. Anyone who does not plan to hand over the baton of the running of the entrepreneurial venture to a competent hand to lead its affairs in the coming generation is already planning the failure of the business.

Entrepreneurs must make plans for the future of their venture so that the core of the business will not be lost in the hands of the people who will lead her affairs in the future.

I wrote this article a couple of days ago and I got tremendous feedbacks from people. It’s all about planning and preparing for the future. It focuses on the enlightening people to not lose the core of who they are and their entrepreneurial venture as well.

“Plan even when you don’t have money to execute, you will always find a credible means around the situation when you put your mental prowess to creative pressure. Plan even when you are not sure if you will get help, there is a way our brains work to produce result when we have faith that all would work out in our favour. Infuse excellence into whatever you do no matter how insignificant you think it is, your work will always showcase the quality of your person. 

In the school of success, “sudden” is usually a product of several years of blood, sweat, tears, tenacity and resilience. You shouldn’t swap character to acquire wealth. The foundation of every enduring wealth is built on character, competence and humility. Prepare mentally, emotionally, physically and intellectually for your unseen but eagerly awaited success, for what you do not prepare for might cause you damage. A whole lot of people have self-destruct because they could not manage their success. Don’t wait to have it before you prepare for it: prepare for it and then when you receive it, it won’t choke you”.


- ZOE OLUWABUSAYO E-mail: thezoeconcept@gmail.com Phone No: 0809 433 7280

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