IFE OGUNFUWA highlights some attributes every entrepreneur needs for business growth
The journey to becoming an entrepreneur does not start and end in a day; it is in stages and takes time. Experts note that people who are interested in entrepreneurship need to have the necessary guidance and knowledge to pursue their business goals. They add that many fail in business due to lack of purpose and direction.
Speaking at the 7th annual conference of the Young Entrepreneurs’ Network in Lagos, the President, YEN, Mr. Uchenna Nwosu, observed that some entrepreneurs had abandoned their innate skills and were pursuing short-term transactions for daily survival.
Speaking on the theme of the conference tagged, ‘Connect’, the Chief Responsibility Officer, Masterpiece Resource Development Centre, Mrs. Modupe Oyekunle, pointed out that Nigerian business owners needed to expand their sphere of influence by connecting with great minds.
In addition, a financial expert and life coach, Lanre Olusola, identifies some laws that will guide entrepreneurs in their day-to-day business decisions and activities.
Law of limitation
Olusola says that most entrepreneurs create barriers for themselves through their thought processes.
“What are your limitations and how do you see them? The problem is not really a problem. At every point where it seems you have hit a brick wall, many people will try to stop. But you must rise above it and find a higher level,” he adds
Law of sound mind
While highlighting the importance of having a sound mind to achieve success in business, Olusola says, “Success demands that you must have unwavering hope and belief in the midst of trials. Without a sound mind, you can never be rich or prosperous. You must commit to a positive attitude and speak positive things into your life. A sound mind does not concede to the experiences you are going through. Without a sound mind, you will be struggling.”
Law of power
The financial expert enjoins entrepreneurs to discover their power by identifying their skills, abilities, talent and passion as well as the unique selling point of their business.
He says, “Power is the ability to do or act. Nothing happens without action. Without the power to act, you will be frustrated. Every individual is wired with specific power. Your power is coded in your gift, passion and talent.
“It is coded in the problem you were created to be the solution to. You need to recognise the power in your business. Knowledge that is used and appropriately applied is power. What is it that you know that you want people to know at all cost?”
Law of patience
Olusola observes that some entrepreneurs venture into business without adequate preparation, as such he points out the need for patience to be successful in business.
“Success requires patience. If it is not yet the right time, plan for what you want and practise. It requires that you wait for the right time and season. When you are waiting, you must focus on what you are waiting for. Understand the principles of waiting. Get on the treadmill; get the stamina so that when the time is right, you don’t lose wind. Then take your step. The journey to a thousand mile starts with the first step in the right direction,” he says.
Law of attraction and personal responsibility
Olusola encourages entrepreneurs to take responsibility for what their life experiences will be.
“Everything you need in life has been given to you. If you want to change your experiences in life, change what you are being given; take personal responsibilities for what you attract. Stop giving excuses,” he adds.
Law of self-worth
In order to record consistent success in business, Olusola says, “You must have a sense of self-respect and self-worth. You must have a healthy self-esteem and self-belief because without them, it will be absolutely impossible to succeed.”
The God factor in business
The Serving Overseer, The Latter Rain Assembly, Dr. Tunde Bakare, says entrepreneurs should always seek God’s direction before investing in any business.