3 Critical Questions Every Start up Entrepreneur Who Wishes to be Successful Must Ask Themselves

Category: ENTREPRENEURSHIP Published: Saturday, 27 October 2018 Written by Life Coach Efosa Emovon


Entrepreneurship


Before you start-up an enterprise or a venture, it is important to remind yourself the reason you want to become an entrepreneur because it is exceedingly improbable to be driven by a clear principle if you do something for the wrong reason.

And also, it is important to know the law of business in order to know your boundary. It should be understood that in the business world it is forbidden to throw ashes in the face of a rising wind because it splashes back at your face faster than you thought possible.

What does this mean? It means that a little mistake you make in business can be so costly that you may not get a second chance to correct it.

In order not to take the wrong step that has kicked many people out of the business world, you must ask yourself the three questions listed below and answers them sincerely.

1. Why do I want to become an entrepreneur?

Sometimes not until we ask ourselves a question and ponder on it we will never realize why we are acting in a certain way, or why we are about to take a certain decision.

Before reaching a decision, if you are wise enough to ask yourself a question and ponder on it, the eyes of your understanding will be enlightened and you will know and understand the consequence of the decision.

For example, if the purpose you want to open a boutique is because of your next-door neighbor you saw bought a car less than a year of opening a boutique, then by asking yourself the question above and pondering on it, you will see it clearly that you have made the wrong decision.

One of the reasons entrepreneurs are the money bags in society is that in every environment whether in the cities, villages or creeks there is always a need or a problem.

Therefore, the Warren Buffet’s and Oprah Winfrey’s of this world are this rich not because they bear a charmed life but because they satisfy a need or solve problems in one way or another.

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If the purpose you want to dive into the business water is to get-rich-quick and not to solve a problem, by asking yourself the question above and pondering on it you will come to the realization that you are about to step on a path that will lead you nowhere.

Your intention of doing business defines your reputation. It would be virtually impossible for you to avoid certain mistakes in the business world if your intention of starting up an enterprise or a venture is questionable.

If to make money is the only purpose you start up a business venture, it will be difficult for you to come to the knowledge that it is not by focusing on getting more money but focusing on creating more value that gives a business a rise.

Not by praying and fasting but by listening to costumers complains and making changes as needed that takes a business to a higher level.

2. Am I emotionally ready?

Every career has their low moment, business is no exception. It is important to ask yourself the question above before starting-up an enterprise or a venture because you will definitely come across insurmountable odds on the way.

In fact, some of these odds are so insurmountable that you may find yourself giving up if you are not emotionally and mentally. This is one of the reasons many businesses are folding up today.

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Research shows that seventy percent of businesses fail before the end of their second-year establishment. Are you ready to enjoy the profit and suffer the losses? Are you ready to take a huge risk? Are you ready to comply with a new government policy?

If no, then you are not emotionally and mentally ready to build a business venture. If yes, congratulations! You are just about to get rich. 3. Is it something I find pleasurable?

According to a great mind, “If you do what you love, you will never work a day in your life.” If you don’t find what you do pleasurable, before long you will give in to obstacles and give up.

Why? Because the fight in you is smaller than the fight in the obstacle you will have to contend with. It is the height and depth of your love for something that determines the length you can go to get it.

For example, there is nothing in the world you will not do to win the heart of the woman you genuinely love.

As an entrepreneur, if you find it hard to take a risk, to wake up at the middle of the night to draft out plans and design strategies, it simply means you don’t love what you do.

When obstacles knock, you will find yourself giving up and giving down because your zeal to succeed will definitely be smaller than obstacle fight to stop you. A lot of entrepreneurs are so passionate about what they do that they no longer notice obstacle when it comes.

In fact, they conquer it without even knowing. Ask yourself: If you could do anything for eight hours a day for the rest of your life, and money were no object, what would you do.”

If the kind of business you intend to do does not appear to you as fun know you have no business in that niche. Apple boss Steve Job once stated:

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“The most amazing words I could ever hear one of our team members say, [and I am humbled to overhear it occasionally], is, “This is the best job I have ever had.” And if it’s not, I would rather help him or she finds that job than help us do we love at his or her own expanse.”

What to do Before setting up a business venture evaluate yourself to know what you are fascinated with.

For example, if you are the type that is fascinated with kids, you don’t need a prophet to tell you dealing on baby products is a perfect market niche for you.

You will definitely succeed in that niche because to go the extra mile to satisfy the needs of those kids won’t be a problem for you because their happiness is your smile. Thanks for giving me your time!

 



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