How To Become A Successful Entrepreneur In Nigeria

How To Become A Successful Entrepreneur In Nigeria

The quest for being an entrepreneur in Nigeria is on the increase ever since the current regime of Buhari have not been able to address the economic woes the Nation plunges into. In fact many persons who felt so much secured in their white collar job have all been heartbroken after the retrenchment in some of the financial institutions.

On this publication, I have decided to explain to millions who will come across this the very way on they can be very successful in becoming a an entrepreneur. Starting up a business in Nigeria could be very lucrative based on certain factors which include proximity to market, population, availability of raw materials etc, but that alone is not the yardstick for being successful in doing business in a country such as Nigeria.

Most at times, so many persons seek financial help either from their uncles, brothers friends or relatives in the hope that when they have huge money, success in business is sure. But the real deal here is that money does not make you a successful; business man. Kiyasoki in his book “ Rich Dad Poor Dad” said that “ more money does not make you rich”. If this is true and it is, then I stand to say that financial education is the perquisite to a becoming a successful entrepreneur and that is what I will be showing you today on this publication.

There are factors that should be considered before starting a business. Sometimes we tend to overlook some important factors and just go ahead to set up a business and before time, the business starts crushing. But with appropriate knowledge, success is sure regarding becoming a successful businessman.

Ways You Can Become An Entrepreneur in Nigeria

The following should be considered before starting a business here in Nigeria. One of the most important factors to be considered is the individual starting the business. How well equipped is the individual? What are his or her approaches towards the business industry he wants to go into? Many a time, people go into business simply because other persons seems to be doing well in such an area but that is economic suicidal. You do what you know you can do no matter what it is not just because a friend or relative is successful in that area.

I would like to advise that as an individual who wants to become successful in doing business in Nigeria, that you gain adequate knowledge of what you are going into. Be well equipped on it. No matter what the business may be, you need to gain adequate knowledge on it. One time, I decided to open a poultry business without knowing how the poultry business works. All wanted was to make money from because my neighbors where making cool cash from it. My first journey was successful because I sold lots of birds that was six months after I started the business. I was on top of the world at that time, I reinvested almost all I had again on the business, and guess what, it crashed. What a grave fall. It was a huge fall that it took me lots of time to recover from the shock.

The question was, what did I do well initially that I did not do the second time? Later on I discovered that I missed the point from the onset where I did not study the nitty gritty of poultry business before I set to do it. Which means that I failed even before there was a business. But today I have one of the biggest poultry in my place because I went into research and discover how the poultry business works. Even though I have workers who works for me, my knowledge has kept me on the right path.

How To Become A Successful Entrepreneur In Nigeria

So the greatest successful to opening a business in Nigeria, is the understanding what kind of business you want to into.

The second thing I will discuss now is the environment at which you would want to set up your business. Please try understand this. Because many persons gets it wrong here. The fact that Lagos is the most populated place in Nigeria does not mean that Lagos, is the best and right place for all kinds of business. But for sure Lagos is one of the places too sure to start up a business.

When choosing an environment, you consider some important factors such as population, weather, proximity to market, proximity to place to get raw materials or place to purchase what you are to sell. In this regards, you make your choice based on the business you are venturing into. For me who has a poultry business here in Benin, I decided to move the business to a community a little distance from the town because of the nature of the business and for expansion reasons. I would also advise that you consider the aforementioned factors before going into business. Choose a place where you know will be very much secured for your business, a place where you can easily move your goods to locate your customers, or a place where your customers can easily locate you.

Ways You Can Become An Entrepreneur in Nigeria

Well, in choosing an environment, the kind of business to go into, is very crucial first. For those persons who would want to go into marketing business, big cities are easily a sure ground for you. Some time ago, I joined a networking in cross river state with BF SUMA, I discovered that the place I based had a few population, and that the people where basically farmers who barely a living. I struggled to make a living via my networking business. Now the problem was not with me being in a networking business neither was there a problem in participating in a network business but my work environment was a hindrance.

How to become a successful entrepreneur and business owner

So I needed to move to Calabar the capital city of Cross River. Though it was not easy initially because of the it was new environment for me. I had issues with adapting to the place was not easy, but sooner I was on top of my game. What I could not achieve in years at my former work place I did in just six months at Calabar. Today I have moved to Benin with a strong networking ground in calabar and now in Benin, I am making waves already in my networking career. This is what you get when you make the right decision in choosing the right environment for a particular business.

My friend who still resides in that village is making it big too because he is into cocoa farming. He buys in large tons and also sells in large quantity to the cities. For a business like that, having your base where the raw materials are is quite the best just as my cocoa friend would always say, “proximity to where I buy my goods have been my success story”.

Now I will be drawing the Curtin here but before that, I would want to share my greatest story on How To Become A Successful Entrepreneur In Nigeria.

And it is called Motivation. Refuse to quite no matter what comes your way. So long you know you are on the right path and on the right business, keep pushing forward because soon, you will reap the reward of persistence. Some time ago, I read a story of young man who went into blogging, and suddenly, he suffered his greatest shock of his life where his blog keeps giving him nothing to show for it. He tried all he could do, but nothing was working. He made several efforts to contact big time bloggers to help him, but you know what should be the answer. None wanted to help him because the blogging industry according to a renowned blogger, “ is a competition” He kept pushing it against all odds, until one day, he was called by a company who wanted to place their banner on his site for advert and that deal made him a millionaire. And from then on, his blog have recorded huge success and today he is one of the best blogger in town.

Refuse to give up on your ideas no matter what happens. One day, you will stand tall among your equals.

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