ENTREPRENEURHIP WITH MUIDEEN ADEBAYO IBRAHIM, ENTREPRENEURSHIP: CHECKLISTS OF ENTREPRENEURSHIP & DEVELOPMENT

MUIDEEN ADEBAYO IBRAHIM

                         “Tough times never last, but tough people do.”
-          Robert H. Schuller

A checklist is a list of items you need to verify, check or inspect. Using a checklist allows you to ensure you do not forget any important steps in driving your business to fruition.
Global Entrepreneurship Monitor 2000 posited that “one in ten adults in the United States today is an entrepreneur. This phenomenon is by no means restricted to North America. 

The leading country for entrepreneurship is Brazil, where one in eight adults is an entrepreneur. Australia isn’t far behind the U.S., with one in twelve. These countries Brazil, the United States and Australia  lead the way. Contrast, for example, Germany (one in 25), the United Kingdom (one in 33), Finland and Sweden (one in 50) and Ireland and Japan (less than one in 100).”

However, the equation has changed with respect to the above statistics because China is a country that cannot be ignored any longer. This is principally because China has a strategy for the development of entrepreneurs and entrepreneurship and this strategy is working to the extent that China now exports to all the major countries of the world as we speak.

Checklists that can enable you to achieve your goals and objectives as an entrepreneur are critically analyzed below:

Visibility: You need to determine your visibility, even if you do not have money to rent a shop due to paucity of funds, ensure that you and your business are visible. In the light of fund challenge, you can leverage on social media where you will not spend so much, yet will still achieve a tremendous result.

Brand and branding: Your brand and superb branding will surely attract customers to your company and product. So ensure that you have a very good brand and branding that stand out from the crowd.

Create a business plan: If you do not have a business plan, please, put one in place because your business plan will help you to navigate the difficult terrain and which will eventually lead to your success since you would have taken note of the salient details in your business plan.

Figure out the money: Where will the money you will use to commence the business come from? Figure it out. Would it be from family, friends, loan from the bank or through assets disposal? Money is like blood in the business without which nothing can be achieved.

Refine your product, and marketing and sales approach

As you go along, you will learn more about the marketplace.  Use customer feedback to refine your product and service offerings, and your go-to-market approach.

You need a dedicated team: The importance of a very good team that will drive the business cannot be over emphasized hence, you need a team that will contribute positively to the overall development of your company. There should be no sentiment in the selection of a formidable team.

Get a mentor: You need a mentor because he or she will put you back on the track the moment you derail.

Location: How strategically located are you? Your location can make or mar your business and as a result, care must be taken in order to ensure that you are in a very good location. You can also compliment your location by playing very well on the social media and this can drive customers to you.

So keep the dream alive! Success shall be yours!

Never Give Up!!

See You at the TOP!!!

It is well!

Muideen Adebayo Ibrahim is an entrepreneur: the Founder, LIBRA CONSULTING; a Management Consultancy Firm and BAMIB RESOURCES (a Premium Pencil Company) based in Lagos and can be reached via muideenibrahim2004@yahoo.com or 08037221517 (sms) only please!