There are many character traits of great entrepreneurs, but the two unique things distinguish great enterprenuers from all others. First, great entrepreneurs are not afraid to start any business. Second, great entrepreneurs don’t neglect small businesses.
In this article, I will show you how great enterprenuers build great businesses and amass enormous wealth by applying these two unique principles.
1. Great entreprenuers are not afraid to start any business.
What distinguishes great entrepreneurs from all others is the ability to find intelligent people and bring them together to start and grow a business.
Many great enterprenuers and billionaires I know are not geniuses. There are ordinarily people like you and me. However, what distinguishes them from you and me is that they know how to find great business ideas and look for intelligent people who can help them to achieve their business dreams.
Entrepreneurship is quite different from conventional educational success. Graduating with a first class degree from the University doesn’t guarantee that you will be a good entrepreneur. Infact, there are many reasons to believe that many “A” students may likely work for “C” students and many first class degree holders may end up working for second class or third class degree holders.
In the business world, people don’t care much about the grade you graduated with from the university. What counts more is the ” BUSINESS RESULTS” that you are able to achieve, which can be measured by how able you are to start and grow a profitable businesses and to KEEP the businesses profitable over time!
There is no business that you can not start and grow
Yes. There is no business that you can not start and grow, no matter how great and complex the business might be. What you need is a basic knowledge about the business and the to find the right hands that can run the business for you. Then you need to keep those intelligent people who work for you continually motivated.
If you want to succeed in business, you don’t need to be a genius or an expert in the business. What is more important for you is that you find those who are experienced and intelligent and knowledgeable in the business you want to get into and bring them together, sell vision to them and keep the vision in from today them continually.
You don’t need to many qualifications to run a business successfully. What you need is a good knowledge about leadership, financial management, teamwork, human relations management and motivation among others.
This was exactly how Jack Ma founded Alibaba ( one of the world’s greatest ecommerce companies in the world).
This was exactly how other great billionaires from Bill gates to Mark Zuckerberg to Mark Essien to Mike Adenuga to Aliko Dangote started and grew their businesses to the multinational companies that they are today.
Some examples of business you might want to start and grow even if you are not an expert in them.
Here are some businesses you might want to start and grow even if you are not an expert in them :
* Barber shop/ hair dressing salon: You can have a chain of barbershops.
* Catering services and events decoration and equipment rentals.
* Car wash business.
* Automechanic workshop.
* Digital designing, printing, typing setting, photocopying, etc
* Photo digital lab.
* Capentery workshop
* Garri processing plant.
* Massage / Beauty parlour.
* Generator repairs workshop
* Interior decoration company.
* Home delivery services etc.
There are many more. You can see our list of over 200 unique business ideas for everyone and you can also see 30 Lucrative Businesses You Can Start With 100,000 Naira or Less in Nigeria.
2.Great entreprenuers don’t neglected small businesses
Yes. If you want to succeed as an entrepreneur and in wealth creation, dont neglect small businesses. It is better to have 10 businesses that each yield N10,000 per month than to have just one business that yields N100,000 per month.
The reason for this is not far fetched. Below is a simple analogy that helps to explain my point.
1. Ten businesses that yield N10,000 per month currently can actually grow to be yielding N100,000 per month. There is more growth potential when you have more businesses.
2. All the 10 businesses can not crumble at the same time. If one fails, others will might succeed and keep yielding you money. But, if you have only a business that yields about N100,000 month, and the business fails, you will be in big trouble.
As a way of balancing this point, note that you should only start and run as much businesses that you can be able to keep sight of and manage effectively. Don’t be jack of all trades and master of none. However, don’t limit yourself to only one business. Get involved with as much businesses that you keep track of and manage properly to yield the needed results that you need.
An effective way of successfully starting and running more than one businesses is to start a new business grow it to a good extent and them get into an additional business and grow it to a profitable level and them add another business to your chain of businesses and so on.
I made two points in this article:
First, great entrepreneurs are not afraid to start any business. Don’t be afraid to start ANY business. Just get a business idea, then after doing your feasibility study and you see that the business has good profit potentials and you have the needed resources to make a success of the business, GET CAPABLE hands that you can employ or partner with to help you run the business.
Second, great entreprenuers don’t neglect small businesses. Don’t neglect small businesses. In fact, start as many of them as possible. They bring in monies that sum up to large amount of money and with many small businesses, you spread your business risk.
From today, don’t be afraid to start as much businesses as possible. Don’t wait until you have the money to start a very big company or business. Just start a small business, grow it to a sustainable level and then start another one and do same thing and then start another one. Just get capable and intelligent people to run the business for you. If you keep doing this, over time you will be great owner of many great businesses.
Nothing is impossible to someone who is daring. The journey of a thousand miles begins with the first step.
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