Entrepreneurship

Entrepreneurship in an Inflationary Environment

In this modern-day world, the best way to earn a lot of money without limitation is via entrepreneurship. In literal terms, entrepreneurship is a way of starting a business or project with an ultimate goal of generating income and eventually create a profit.

For some desiring to be an entrepreneur starts within them, and it is like a calling because the majority of people fail to have the set goals for their business or start up. On my personal experience as an entrepreneur, it takes courage, dedication, have the ability to take risk, long-term and short-term goals.

For a project to sustain, one must have a short-term goal that will sustain a long-term goal. In entrepreneurship, everyone has his or her own story, some started by doing vending, some were working under someone and decided to stand-alone, and some had a dream on a certain project and eventually started their own business.

In most cases, it is difficult to start, but consistence and determination will reward. It is important to know that businesses differ; some may take over one year for one to record a profit.

For an entrepreneur to start a business she/he does not necessarily need capital, because one may use the power of knowing or having critical information. The easiest business model to start with is broking, making use of what one knows.

For example, one may start haulage business as consultant even without a single truck but can start by linking one who wants reliable transport service, to one who has the reliable transport service charging an extra fee on the cost.

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Another key driver to entrepreneurship; might be driven by a problem at hand and then solving it. Most successful entrepreneurs solved problems that were affecting people on daily basis.

 At one point in Nigeria, a certain woman knew that most of the people where living below poverty datum line and she decided to manufacture sandals for the people to wear and can afford. Therefore, it is important to know a problem-affecting people and find the best way to solve it.

Entrepreneurship has no starting age; some made it after sixty years of age some in their teenage age. In a certain speech by Facebook founder, Mark Zuckerberg he stated that he was also inspired “by the courage and resilience” of other successful entrepreneurs.

Entrepreneurs if not understood right some might think they have lost their minds, or wasting their efforts in vain. For example, the person who created a light bulb was successful after 1000+ failed experiments.

Most importantly, for one to be an entrepreneur, needs to change the mindset, and think like a Champion, and act like one. CEO of COSCHARIS motors once said, to be an entrepreneur, “one has to train his or her own mind” by managing your time thinking on what to do next each time. 

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