People who can’t manage their own lives don’t make good entrepreneurs. An entrepreneur should always learn to accept total responsibility for his/her business just like he/she accepts responsibility for his/her personal life.

Some would be entrepreneurs often engage the get rich quick approach to business without engaging proper study. This would only lead you to learning the hard way, the wise learns through the experience (fortune/misfortune) of others while the lazy learns through his/her own mistakes (experience). I have to add that in this competitive economy of today managers who excel in business engage in study, strategic planning analyzing business fortune and misfortune (risks) before diving into the pool.

Most often, starts up managers are more interested in the 'honey' part of the business leaving behind the risks that may and often occurs in the process (I find this more rampant in this forum). Most of the big businesses we see today had little beginnings just like you won’t roof a building before the foundation. It is no surprise that young and aspiring entrepreneurs of today are in search of an easy way to make fortune because of the current hardship.

Start ups should learn to engage more research and be disciplined in their area of business. I am less concerned about your answers, show me your calculation. Don't tell me you would make N10, 000, 000 in 3 months; show me your rough work. Real entrepreneurs look at every new opportunity as an exciting and new-life experience. They are energized by the risk, and learn from every failure.

Most people, at some time during their life, dream of starting a small business while most never do for the fear of risk or inability to raise a start up capital. Statistics show it that the mortality rate is overwhelmingly high for a new business started by an inexperienced owner. I have to say that your start up business is driven by your dream, don’t let risks overwhelm you.

Billionaires think differently about risks than the rest of us do, they believe that if they don’t take them, they already failed. They know that if they fail taking a risk, they already found a new approach to tackle such problems. It is important to know that risks are the barriers to our vision (dreams) which we must take if we must derive success.

Start-up capital is the money needed to begin your business. This would include everything essential for product development and the product launch. Before going after start-up capital make sure you know how much money you need, and then how you will apply those funds. Start up capital for entrepreneur A might be N200. While start up capital for entrepreneur B might be N200, 000. Know your dream (business), make proper study, do your research, meet with successful entrepreneurs and learn what they are doing differently, read biographies, be disciplined, have a focus and I see you at the top.

I hope I have not taken much of your time with this long write up, but I sincerely hope it would be of help to someone aspiring out there. I am open to comments and you can reach me via email for information/advice: executive_mail @ ymail.com

Enjoy