Typically the Qualities and Traits of your Successful EntrepreneurPosted by Agger Knight on June 8th, 2021 Pioneeringup-and-coming activities are on the within Nigeria. This is mainly because of the lack of jobs that affect many Nigerians including college or university graduates. A study carried out by Gallup showed that 67 pct of Nigerians are willing to commence their own businesses. Furthermore, 80 percent of those interviewed believed that their businesses would be productive in Nigeria. This is a huge percentage as compared to the results of other West African nations around the world whose median for those able to start a business was forty-four percent. This trend haven't gone unnoticed and the past Nigerian president, Olusegun Obasanjo even mandated that entrepreneurial skills be taught to everyone university students irrespective of their significant. All this is in line using the Nigerian Economic Policy with regard to 1999-2003 whose purpose is always to promote education through the use of technologies. The Nigerian president also has big plans for the country one of them being to see Nigeria as one of the top 20 economies around the globe by the year 2020. This, he hopes will come through if the policy is appropriately implemented. According to this coverage, one other way that these ambitious desired goals can be achieved is by partnering plan certain agencies such as the Destiny Foundation in Nigeria as well as the United Nations Transfer of Knowledge through Expatriate Nationals (TOTKEN) that are dedicated to encourage entrepreneurship. Internet marketers in Nigeria face distinctive challenges that hinder their own entrepreneurial spirit and encourage rampant corruption. Nigeria continues to be previously known as one of the most virus ridden countries in the world and this distressed free enterprise. Nigeria has additionally been largely dependent on the income from oil that additional economic sectors have been very underdeveloped. During more info of between 1973 as well as 1980, Nigeria's GDP rose to , 100 in 1980 from the previous 0 in 1971. However , due to improper government policies Nigeria's overall economy was left vulnerable. Investment decision was made mostly with the acrylic industry in mind that some other sectors such as the manufacturing and the agricultural sector was taken noncompetitive. The fall of oil price ranges all over the world during the 1980's coupled with a general increase in the capital markets real interest rates, greatly damaged the domestic and worldwide fiscal situation of Nigeria. This led to a general fiscal slump which was characterized by a significant fall in GDP from a single, 100 in the 1980's to 0. According to the World Advancement Report of 1994, Nigeria had dropped from like a middle income level country into one of the poorest places in the world. A devaluation of the kind created very high monetary inflation, a general spread in specifications and high unemployment charges. Other factors that have affected entrepreneurship in Nigeria include poor infrastructure, high cost of doing business, continual political, tribal, religious along with ethnic violence, gender elegance and lack of quality knowledge. However , measures are being taken to cub all these negative impact on and to make Nigeria conducive for entrepreneurship. Despite all the issues that have affected the Nigerian economy, business development in addition to entrepreneurship has taken root. It can be especially known that individuals from Ibo ethnic group have great entrepreneurial skills. The number of private firms has tremendously increased since the 1980's even though they are quite small when it comes to job, revenues and capital. Nigeria currently ranks second after South Africa in terms of GDP and if proper measures are taken and appropriate policies implemented then it may as well do the top spot. Starting almost any a business requires planning, creativity or creativity, inner commute to succeed and of course hard work. But the main traits and characteristics of entrepreneurs that make all their businesses stand out from the audience include; the desire to achieve. Enterprisers are people who highly desire to achieve. An entrepreneur should not await things to happen but ought to rather make them happen. They are also highly competitive and will always try to be informed concerning latest entrepreneurial developments. Business owners are also self starters. It is to mean that they encourage themselves to do something. They cannot need an incentive to do anything even so the desire to succeed is enough for getting then started. They would somewhat make their own mistakes and discover from them Entrepreneurship also requires hard work. As entrepreneurs, you have to know that success does not can be found in a silver platter yet has to be worked for. Internet marketers realize that they have to put in a lot of time and effort to see there dream come true. Focus is also another incredibly essential characteristic of an businessman. Entrepreneurs know what they want and may do anything to achieve that. This is related to positive thinking in that consider that everything will turn up well in the end no matter what. Business owners are also non conformers and a lot always wanting to stand out of often the crowd. A successful Nigerian entrepreneur should also avoid being fastened down to anything and instead help make their own goals and objectives rather than being employed by someone else. Entrepreneurs are also blessed leaders. Good leaders motivate trust in others and inspire them to do something. A good leader efficiently influences, guides and markets people. read more is specially important when hiring people to the newly founded business. A business person should possess good judgmental skills and be sharp and also bright capable of making wise decisions. Good communication skills are also a must for an business owner. This means that a successful entrepreneur could efficiently convey a message that is clearly understood. This quality only works well if an example may be also a keen listener. Business people are risk takers. Running a business in itself is a risk because if one does not make scored choices it could easily fail. Successful entrepreneurs therefore , take calculated risks in order to realize success. Entrepreneurship also requires dedication. Entrepreneurs tend to stick to their particular ventures no matter what. They do not very easily give up and when they make a miscalculation, they learn and proceed rather than obsessing on that you failure. Starting and in operation has its ups as well as down and the ability to remain by it defines a true Nigerian entrepreneur. Creativity and advancement is also another trait this characterizes a successful entrepreneur. Business owners will always look for new ways of accomplishing things. They are not afraid to experience new ideas and are really imaginative. Their products or companies therefore usually have an edge just for this creativeness. Generally, Nigerian entrepreneurs need a strong spirit which will endure all the trials and tribulations that come with a business. Nigerian entrepreneurs therefore need to help make informed choices before making a decision to enter into entrepreneurship.Like it? Share it! More by this author |