- March 15, 2018
- Posted by: Koyona Duke
- Category: Development, Entrepreneurial Development, Learning
Being your own boss is the Dream. I am sure there are millions of people that listen to their bosses talk and think I don’t have to take this if I start my own business I will do what I like and I will make as much or even more money than my boss.
This may very well be true, but don’t believe the hype, entrepreneurship is hard work. There are no business owners I have talked to that say this is all so easy, they have at least 1 thing they will want to change, to do better, to have better.
Let’s explore some commonly held myths about this journey;
- You have to take lots of risks: the truth is if you are entering untested and not validating constantly, you may not have a business in a year. Entrepreneurs are risk calculators more than risk takers. Before you hop in you need to know as much as you can about a risk. You need to know enough to eliminate that risk, and then you leap.
- You have to go big or go home: this is one of those myths that keep people with great ideas stranded and just fearful to start. No, you do not have to go big or go home. You can start small. You can actually start with nothing. Say you have a service, you ask someone if they want it, you carry out the service, you get paid. You have a business. You do not need truckloads of money and grants from NGOs to run a business. You just need to be able to think yourself out of tight spots and solve problems for your clients.
- Your Idea has to be New: this is a myth. How many successful restaurants do you know? How many Designers do you know? What about people who sell Body care product or make them. This list is endless. You don’t need a new idea; you need to know how to execute an old idea in a new way. A new way to solve a problem and communicate it to your clients so they know your value. Business today is all about the value. People will not give you their money without understanding your value to them.
- You have to know everything about your business before you start it: this is not true, the reality is that you will keep learning and keep growing and that will fortunately never stop. You want to strive to know something about all aspect of your operations, but you cannot know everything about everything. A designer does not have to be an HR professional, but she/he does have to know how many staff she/he has and how much they are paid. The rest can be handled by someone whose job it is to handle that aspect.
- Passion is all you need: I know successful businesses that have grown from necessity and passion followed. You have to have perseverance that’s what you need discipline and perseverance. Passion is something you will have on some days and you won’t be able to muster on others, but if you perceiver, if you are disciplined, you will be able to drive a successful business
Entrepreneurship is not something we can fit in a box, we have businesses in a vast number of sectors with more springing up all the time. All that keeps the successful from the unsuccessful is simply;
The ability to learn and adapt
We are here to support your journey talk to us to work that Idea into a thriving business.