Entrepreneur in Nigeria

How to be a Successful Entrepreneur in Nigeria

What is an Entrepreneur?

According to dictionary definition which states that an Entrepreneur is

a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

GOOGLE DICTIONARY

According to that definition, we can pick out a few words that stand out “risk“, “business” and “organize“. These three words stand out in the definition of an Entrepreneur.

Choose a business

The word Entrepreneur covers a wide range of businesses, you would have to pick a business that you feel confident and comfortable to achieve your goal. It would require determination, so it’s best to choose something you are passionate about. Do proper research on the business of your choice, account for all factors, and set a goal.

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Choose a business

Plan your business

Plan your business

After you must have researched your business of choice. A business plan is needed to be able to account for the growth of the business, financial requirements, labor. There is a popular saying

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He who fails to plan, plans to fail.

THE PEOPLE

Your Audience/Customers

Your customers/audience matters if you are to become a successful entrepreneur in Nigeria. Knowing where your customers are, is the fundamental path to achieving your business goal.

Your Audience/Customers

For example, We have a new opened barbing saloon on a street that has a school around the corner, and it’s within a population of 500 people in the resident. In a day, the saloon would be able to get close to 20-30 people if there isn’t any competition around the saloon.

There isn’t any secret to a successful business, just bring the people and the services or products together.

Jack Mark

Communication And Marketing

To be a successful entrepreneur in Nigeria, It is how people get to know about your business. It provides easy recruitment of staff if need be. It helps provide new customers for the business in place. There are different types of methods to boost sales or get new customers here.

feedback to customers
Giving customers feedback

Were its digital marketing through social media or by directly talking to new customers about the services your business offers, it would boost the business in the long run.

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Conclusion

To be a successful entrepreneur in Nigeria requires a lot of hard work, determination, persistence, and understanding of the business world. Business profit doesn’t come quickly like expected, stick to the business plan, making adjustments if need be, invest the profit and take worth risks.

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