It is obvious that 80% of Nigerians who started up business failed within the first year of existence. majority we keep saying is bad Government Policy ,Poor government structure and so on with different complain.
If you are among this numbers who believe that Nigeria is not a vital place for business, i am here to quote you wrong. No you are not right .Nigeria is the best place to invest considering the population sizes, raw materials and market sizes.
Have you ever ask yourself one question, why is that most Foreigners are doing better here in Nigeria in terms of Investment than average Nigerians, take a deep view of it,then ask yourself the reasons behind it. i am going to share it with you today the secret on it how to succeed better than the Foreign here in Nigeria.
1. Do Research and Read Books on that Business you want to start up
There is a saying that, “If you want to hide something from a Black person,a Nigerian put it in a book.” (or some say, “write it down”)
There’s long been a stereotype that Black people don’t like to read. The thinking is that Black people prefer to rely on oral communication to document history and to communicate, in general. We supposedly don’t like to write and we don’t like to read. most of average Nigerian don’t like reading,some we buy motivational books yet they store it in their library.
Readers are leaders, one common thing with successful people is that they are voracious readers, knowing that the success secretes of the great business men and women can be found in the books,so they go after it in order to discover them.To remain relevant in the present generation, you must be an avid reader of books relating to your field of Business.
Knowledge truly is power.Become a seeker of Knowledge for wise man/woman will hear and increase in the learning,nothing transform like information, and it takes meekness to commit to the art of learning.I can predict where you will be in the next five years by the books you read. What you know today will change the next five years of your future.position yourself around people who are doing what you want to do by reading their books or if possible meeting them.
Bill Gates was set on the path to his future by the January 1975 issue of Newsletter,popular Electronics,obviously, Bill Gates was avid reader and information guzzler who kept a breast with happening in the field of his passion interest.
“Imagine you pickup a book that you bought 5 years ago and decide to read it only to come across idea that you need to survive in your business, that means you loss five years of great opportunity. while some we read the book to half page and ignore the rest pages unknown to them that the required idea is that page that he/she failed to read.
“You should carry out total Market survey by doing your feasibility studies,check out your competitors in the business,closeness to market,source of raw materials,demand for your products or services and required capital to start up your dream business. No matter how small you we get to the promise land with determination and focus.
2 . Mentorship/Friends
“There often saying that God will direct your helper who will assist you to succeed,yes that is right, but you still need to workout things for yourself,you need to get that mentor/friend who is already in the business line that is doing better on that line of business,let imagine you want to start Blogging here in Nigeria you should check out for the list of people who have succeeded in it.
like mind of Linda Ikeji, bellanaija,etc, all you need to do is to make them your close friends, by learning from them what they are doing right that you most do to also get it right.
Mentors are people who show you the pattern to your success, they are role models ,someone you look up to.Are you planning to go into Real Estate? Find the most successful and productive realtor within your location establish a friendship become his protegee.
Please don’t ever trouble them for financial assistance or keeping give them reasons to to avoid talking with you.all you need to do is suggest more ideas and opinions to them you will be fine by that they will teach you right.
Let me give you an instance case of a friend who’s course mate in the University happen to a big short in CBN.
trust me if it where others they rather keep asking him for help financially, or fixed them up as staff in CBN, but he keep given his friend good idea and suggestion for him to succeed as best staff .There come a day when a new bank want to commerce operation, the man in CBN told the management of the bank that he has a friend who can head the bank as Managing Director, guest what? the friend got the job without stress base on the trust the CBN man have on his friend.
It ideal you build close people who will assist you,there is a popular saying that “show me your friends i will tell you who you are”, always surround yourself with positive mind like you. don’t ever make friends with people who will discourage you in succeeding that business.
3. Apply Street wise Idea on your business.
You have to be relatively wise when it come to business, you need to be close to that man in the street to succeed it shouldn’t be book alone.
“those that graduate with First class in Finance or Business are not the richest people today in the world nor the most successful people in business. NO they are not, Education is to guard you on the best principle and policy to apply for you to succeed. so apply that street mentality by studying the ways and trend of every business around your location. attend more seminar, and workshop so as to learn new ideas and understand the trend of your business.
“Have you ever seen average “abero” man in the street of Lagos,chasing after bus to get his money, he’s always harsh and serious ,they don’t joke. so apply such principle by getting your required goals and aim.
A wise man once said the difference between successful people and failures is focus.Successful people make up their mind to pursue a course of action and do all in their power to focus on their goals until it is accomplished .They brook no excuses for failure
Circumstance will arise to make you relinquish your business, break your focus and let you go of what you have started, you will also be tested by life to assess your inner resolve to succeed, you must prove yourself before you accomplished great things in your business.
4. Have a clear define goals for your business.
” What is your short term, medium term and long term goal of your business. always measure it with performance, it will assist you check if you are close to your objective, then evaluate your strength ,work on your weakness, don’t fail to checkout for Government policies that will assist you or break your business, because they are factors that you can never change.
Some people are scared for the future, they procrastinate and stagnate. When you have no ideal of the possible outcome of what you want to attempt in Business, you will hesitate and possibly procrastinate for a long as you can, you creates in mind the most horrible worst cases scenarios you can imagine and keep yourself immobilize.
If you want to start that dream business, your mind can conjure a scenario of your business going bankrupt.If you let this picture take control of your mind, you will give up on the business and wait for some other business that is less dangerous to come along.The truth is that there is no risk free existence.There is a potential risk that if you step out from your house in the morning , a car may hit you,but you still step out in spite of the possibility.You take risks every day for your life.what you need to do is build up your risk capacity.
The proof of interest in any business is pursuit your business goals or objectives,one way to deal with that is to break down your goals into manageable bits.If they they are still too big, break them down further.May Nigerians vocalize their dream business but they refuse to put their money where their mouth is.they are good talker but poor doers. to succeed you most talk less and do more,you should convert all that talking time to thinking time.
In life you should constantly face situation which demand confrontation of sort, if you have developed your inner resource and acquired some skills, you we move confidently and take the neccessary steps to succeed, but if you haven’t developed your coping skills or inner resources,you will feel incompentent , weak and unskilled enough to confront your issue and let them overwhelm you.
To sum up,
5. Get Education for the business you want to start up.
Education they say is key to success,in Nigeria, the saying is no different. While most people are very content with a Basic or Secondary education, the same cannot be said for the youth whose aim is to make it to the topmost height. A more-educated person stands a better chance on the higher rungs of the success ladder. Strive for a base level of a tertiary degree at least. Also, do a Masters if you find the means.
apply this principle it will assist you to succeed.
written by Ogbeide Frank