A lot of people are mesmerized by the startup craze.
These days, everyone wants to be an entrepreneur… an usually for the wrong reasons.
You hear people say they want to have time for themselves, more freedom, be their own boss etc…
However real startups are not like that as you devote more time Nd have ro answer to your shareholders; it is a lot of work. It requires a lot of perseverance and persistence- It is actually less demanding to do a job than to start your own business.
And PASSION is not ENOUGH!
Yes, the vision should drive you, but consistency and resourcefulness are paramount to surviving.
In addition, even the right business model that was tested and verified , may not work when trying to scale or may not be sustainable in the future… so you need to think beyond the initially successes, be observant and ready to pivot, and make sure you test for scalability.
While new ventures and innovation is necessary as a multipler to growth and development of the economy, you first have to understand if you have the right character to be diligent and dogheaded.
One can be entrepreneurial in whatever you do, but entrepreneurship requires commitment and devotion to levels similar to a mother and her child.
You have to nurse this budding business, providing the care and the suitable environment needed for it to grow.
And you should be prepared for hard work…
Because the environment in Nigeria needs a lot of improvements.
Therefore when deciding if you are ready for the disciple and devotion of starting a new business ask yourself these questions:
- Am I the kind of person who can work independently?
- Am I the kind of person who is disciplined?
- Am I the kind of person who can work under anxiety and i uncertainty?
- Am I resourceful?
- What is my reaction to failure?
- Am I tenacious?
The answers to these questions should be backed by real life experiences that show these traits.
Although the questions are not exhaustive it helps give a sense of what to consider.