Entrepreneurship seems to be the order of the day today, the press glorifies it, government officials put lots of emphasis on it as the only way out of poverty, its even a compulsory course for all university students. NYSC is all about it, from your afternoon lectures in camp, to your SAEED. But is it really worth it? Are they telling us the truth, or is it mere propaganda by politicians to give excuses for their failure?
Daily we are bombarded by happy ending stories of people who made it by starting up their business, we are told to emulate the likes of Dangote, Otedola, mike Adenuga. But the bitter truth is that not everyone will make it like Dangote. As a matter of fact the chances of Success is Very rare.
People who make it are the lucky ones, lucky in the sense that the have opportunities that others never had or will never have which they harnessed to their advantage.
Opportunities like capital, good location, skills, business climate, experience e.t.c. These variable are not things you have control over. Take for example Dangote started his business with just #500,000 (a huge amount of money during the 70's) given to him by his uncle Dantata (one of the richest men in nigeria at that time) who also groomed him in the tricks of business management. There are many people who have beautiful business plans out there, but no capital to fund them. Even when the capital is available, you don't any experience about the business climate of the business you are venturing into, its like a blind man crossing the highway unaided.
The truth of the matter is that not everyone is meant to be entreperneurs, if you believe in the determination, nothing-can-stop-me mantra, you might probably end up with a small food-stuff shop/kiosk business, or like the road side akara seller whose income would not be enough for you to start a family. If it were that easy, then our proffesors of business administration in our universitys, would have been top business moguls by now.
Truth be told, our politicians need to sit up! And make economic policies to would encourage investment and growth. If the economy is favourable, both entrepreneurs and employees, would be better-off.

Charism:
Entrepreneurship seems to be the order of the day today, the press glorifies it, government officials put lots of emphasis on it as the only way out of poverty, its even a compulsory course for all university students. NYSC is all about it, from your afternoon lectures in camp, to your SAEED. But is it really worth it? Are they telling us the truth, or is it mere propaganda by politicians to give excuses for their failure?
Daily we are bombarded by happy ending stories of people who made it by starting up their business, we are told to emulate the likes of Dangote, Otedola, mike Adenuga. But the bitter truth is that not everyone will make it like Dangote. As a matter of fact the chances of Success is Very rare.
People who make it are the lucky ones, lucky in the sense that the have opportunities that others never had or will never have which they harnessed to their advantage.
Opportunities like capital, good location, skills, business climate, experience e.t.c. These variable are not things you have control over. Take for example Dangote started his business with just #500,000 (a huge amount of money during the 70's) given to him by his uncle Dantata (one of the richest men in nigeria at that time) who also groomed him in the tricks of business management. There are many people who have beautiful business plans out there, but no capital to fund them. Even when the capital is available, you don't any experience about the business climate of the business you are venturing into, its like a blind man crossing the highway unaided.
The truth of the matter is that not everyone is meant to be entreperneurs, if you believe in the determination, nothing-can-stop-me mantra, you might probably end up with a small food-stuff shop/kiosk business, or like the road side akara seller whose income would not be enough for you to start a family. If it were that easy, then our proffesors of business administration in our universitys, would have been top business monguls

---

by now.
Truth be told, our politicians need to sit up! And make economic policies to would encourage investment and growth. If the economy is favourable, both entrepreneurs and employees, would be better-off.

.... ... Nice write up@op.....moguls tho, typo error i guess..... U were lucid enough.....

alexx187:
.... ... Nice write up@op.....moguls tho, typo error i guess..... U were lucid enough.....

Thanks for the correction.

RedCapChief:
There is nothing like luck, there is only discipline, hardwork, opportunity and preparedness to take said opportunity.

The average bricklayer on the street who earns #2k per 5hours of work. Works harder than a stockbroker who can earn almost half a million durin 5hrs of work.

Hardwork clearly is not working to his favour. Hardwork is an important virtue, but the truth be told, all fingers are not equal. Just strive to make the best out of the little luck or oppurtunity you have in your hands.

First, let our government provide constant electricity.

This is indeed a nip in the board! To some extent, I agreed with the OP.


Though in the Nigeria of today, with all the listed factors by the OP that contributed to the successful business of Dangote, Otedola and co, youths of today can still get it right through entrepreneurship with available factors at their disposal.


BTW, check my signature on how to get rid of excess ugly belly fats

Entrepreneurship strive in environment where something like the "American dream" is possible.

People talk about Dangote, Dangote got N500k at a time a brand new Peugeot was about N10k which means he got an equivalent of today's N50m.

And N50m in a northern environment where one person can be pushed up to the highest level if born into the right family can achieve same success today.

In present day Nigeria, the only set of people that can achieve that "American dream" going from nothing to something in Nigeria are the Igbos, every other billionaire in present day Nigeria has its roots in either oil money or politics money

6 th

whatever they think.... Igbos has least destitutes in d country and highest self employed people....

in summary employment is our child

Nice...

noted

I agree with your post, Charism. Everyone advocates entrepreneurship, but there is hardly anyone willing to tell the truth about it, like you did. I've seen posts about 'starting your own business' and 'being your own boss', and they usually lack all the important factors that a startup needs for expansion and growth. All they are concerned about is 'making money' and 'working on your own time'.

The truth is not every business started by an aspiring entrepreneur will survive or grow. The reason for this, amongst many others, include:

* The harsh economy (the main reason, actually)
* Lack of proper financing
* Lack of business management skills (people fail to acknowledge the strategic aspect of owning businesses - their own understanding of the term 'entrepreneurship' is 'owning a small business' - they fail to see that entrepreneurs are creative, innovative, and consistent people)
* Lack of innovation by an aspiring entrepreneur (another important factor people fail to acknowledge; there's actually a Nairalander advertising his ability to make a forum exactly like Nairaland - no creativity whatsoever, just a blatant rip off.)

Unless these problems are dealt with, unless the government of this country contribute to the growth of SMEs, and unless people have a thorough understanding of entrepreneurship, business will either continue to be 'small businesses' or will fail.

This is very very intersting..


I started business in my year two with my rent money..If I go full time 1month with the present status of my business..I earn more than a bank cashier.

Nothing can stop you, if you have all the attributes @Craven listed

Agreed....but is sure goes a long way in curbing it.

Agreed...but is sure goes a long way in curbing it.

ONLY IN NIGERIA THAT YOU WILL SEE GUYS DRESSED TATTERED SELLING BOOKS IN TRAFFIC TITLED

''HOW TO BECOME RICH IN 3 MONTHS WITHOUT CAPITAL''

"RICH DAD POOR DAD"

"HOW TO BECOME DANGOTE WITHOUT CAPITAL"

LET APC CONTINUE PURSUING RAT AND LEAVING THE MASSES TO SUFFER WITHOUT TANGIBLE ECONOMIC POLICIES, OIL IS NOW $28 DOLLARS PER BARREL NOT $110 PER BARREL AS IN GEJ ERA!

I like that .... Tell them bro

Politician are now using that as an excuse

T

.

This thread go put. U ffor reverse

Midway!

True..well written, I feel everyone should be aware of this before deciding to enter the so called enterpre....however, it must also be said...at least it puts food on the table, and reduces armed robbery in. The society.

Hmmmm

Taking the Op's word is like going into a whirlpool and expecting not to be drowned. The truth is some have actually been in the whirlpool and survived it, so any can survive with or without capital or experience. It's a rare case.

Op, you're are 70% right, but It's better to try than not try at all.

I beg to disagree with the the points which u used to qualify the topic. You are debating on unemployment and you didn't explain what employment and unemployment is all about moreso you didn't tell us how employment is created and cite examples of countries or societies that solved employment problems without encouraging enterprises. From your conclusion I can denote that all you want is for the government to create jobs for people to work but you need to be reminded that even the few jobs the government have created they are finding it difficult to pay workers salaries. Don't discourage entrepreneurs if you don't know the way to make it there.

lincolnj88:
whatever they think.... Igbos has least destitutes in d country and highest self employed people....

in summary employment is our child

Agreed but what you termed as buying and selling as in the case of Nigeria is not the way to grow an economy. Its simply importing what were produced in another country and sell in your country.
Entrepreneurs use resources in their countries to produce needs or to meet needs for example, a baker uses Nigeria made cassava flour to make bread. Tailors sow made in Nigeria Ankara or fabrics to make Aso Ebi, that is growing economy not buying from Taiwan and selling in Nigeria.
And that sector of buying and selling is about 11% of the GDP but who produce what is sold?
Growing the economy need entrepreneurs who want to meet needs in the society.

[b] I won't say u r wrong or entirely right. I would say entrepreneurship is not entirely the answer and employment is not also the answer but an astute entrepreneur has a better chance of wavering the storm of economic hardship than would an employee.

An employee's life is ruled and circled by his boss. He depends on him for survival and so he is squeezed into begrudging obedience. if he however set aside some money for a side business he can have better hope for the future.

Note that not all can be like Dangote or Oga Seun but in our little world we can change our economy. The're little shop owners who make more money than bankers. some make a bankers monthly salary in a day. With there little business most of our mothers have trained many children through university.

That said we can't all be boss someone has to be employee, but an entrepreneurial spirit is what we all should endeavor to cultivate.

With advice, reading and mentorship we can develop essential skills required to be an entrepreneur. Nothing comes on a platter of gold.

Entrepreneurship is the secret behind the success of any business @JuniorPortland
[/b]

The only reason every one can't be an entrepreneur is simply becos "it is not easy" but it is not impossible

True talk.....buh the fact is that our government is not dependable and MAN MUST CHOP....