Hi Guys, My Name is Shedrack Akintayo, A Nigerian.
Iâ€™m a Freelance web developer, Student, And I happen to discover that I can write Stuff.
By the title you all already know what the main theme of this article is. So lets get to business.
Today, Students, teenagers, youths all have one mindset which is Go to school, finish school, Get a Job.
Now Let Me ask a question Have We ever Asked ourselves What if we donâ€™t get a job when we finish â€˜schoolingâ€™.
Life is not like a movie where everything happen to be in line with a particular script. Life is reality, Life is a Hustle, Life is A battle for Survival.
As, Students We all are supposed to have backup plans for our lives.
Where there is Plan A there should be a Plan B, because we never can know if Plan A is going to work.
We all know our Plan A is Getting a Degree and also a good job, Now my Main focus is setting up a Plan B.
What should be your Plan B?
As a Student you should create or develop a plan B to support yourself in case A little aspect on Plan A did not go according with what you had planned.
Now, Our Plan B is Called Entrepreneurship.
according to businessdictionary.com
Entrepreneurship can be said to be â€˜ The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses.
In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation and risk-taking, and is an essential part of a nationâ€™s ability to succeed in an ever changing and increasingly competitive global marketplace.
In a Lame manâ€™s language entrepreneurship is the Willingness of a person to start-up his/her own business bearing the risk in mind. It is the ability for a person to put that â€œ1 billion dollar idea into actionâ€
Entrepreneurship can be scary because there is no guarantee that the business will work, and the entrepreneur may end up losing money for the first few years.
Mark zuckerberg, sergey brin, larry page, Bill gates, Steve jobs and the Rest of the great entrepreneurs all had an idea and a sense of fear.
They all went to school, pursued all their dreams while in school. Mark zuckerberg had to drop out from school to build that idea(now Facebook) including sergey brin and larry page they dropped out of their phd degree program to Focus on Google.
Iâ€™m not saying we should all drop out of school because all fingers are not equal. We should all try to get a degree in whatever course we want.
Permit me to drop a quote before i move on â€œThere are more entrepreneurs than investors on the Forbes list of wealthiest people, but that doesnâ€™t mean entrepreneurship is necessarily a better wealth builder than investing. Thereâ€™s a selection bias in that entrepreneurs have much more concentrated asset allocation, often having nearly all of their net worth tied up in their own company (and usually not able to sell it very quickly), whereas investors are more diversified. Also, for every entrepreneur who strikes it big there are many others who completely fail, so the list is not a good guide to where the most wealth is being created.â€
- Tom Murck.
An Example of entrepreneurship is the way Bill Gates single-handedly revolutionized the way we use home computers.
Age is definitely not a factor to consider before getting into business for yourself. An article titled, â€œEntrepreneurs Get Better with Ageâ€ in Harvard Business Review says, â€œThe average age of a successful entrepreneur in high-growth industries such as computers, health care, and aerospace is 40â€ and â€œTwice as many successful entrepreneurs are over 50 as under 25.â€
Colonel Sanders started the Kentucky Fried Chicken chain of restaurants when he was 65 and Takichiro Mori, who built a real estate empire worth $13 billion, made his first investment in property at the age of 55.
We should quickly Go to what to consider when starting a business, so that i dont bore you with stories.
A business depends on a lot more than great products and services to be successful. Like a newborn child, it has its own life force that comes with certain needs and requirements in order for it to survive and thrive. Plan out the structure and processes of your business first. You will need a hierarchy of management, which may be very limited at first. You will need to keep financial records and file taxes. You will need to determine if you should form an â€œSâ€ corporation, a â€œCâ€ corporation, or a limited liability corporation (LLC), which could make a big difference in your profitability.
Of course you will also need to find a location, design the customer interface (whether it is a store, a website, or a mailing list), price out everything you will need to get set up, and determine the size and scope of your business. You will need to define your demographic so that you can choose the right location and/or target your marketing properly. You will need to research city codes and know what licenses are required.
Always remember that the world may not share your enthusiasm for your great idea. Remember too that even the best idea is only as good as its execution. Your visions of grandeur may not sell so well in a small storefront on a side street, which might be the best you can afford. Most new businesses fail, and difficult economic times do not increase your odds of success.
You need to talk to people. Talk to people who have succeeded and people who have failed. Talk to bankers, even if you may not want their money, as they have seen a lot of success and failure from their clients. Talk to friends, talk to family, and talk to strangers. Talk to people in a similar business and find out the unforeseen obstacles they faced, as well as the factors that helped them succeed. Ask them if they would do it all over again.
Starting your own business is a very personal decision with wide-ranging and long-lasting consequences, for better or worse. It should not be entered into lightly, unprepared, or without the full knowledge and willingness to embrace the possible downside if it does not succeed.
In a nutshell, We should look beyond the forewalls of our class room, ge a â€˜side hustleâ€™, believe we can make that our idea come to reality and grow bigger, learn new things and Be that Badass Enterprenuer.
Thanks for your time.
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