I have encountered many obstacles in the last 7 years when I took a dive in the entrepreneurship pool in order to grow my small business idea to a brand name of my dream. At some point, I have been rejected and my proposal turned down many a times, not because my idea is neither fantastic nor needed but rather, maybe it was not just my luck. However, I have also had cause to secure contracts where I least expected and sometimes those opportunities comes on a platter of gold. From my personal experiences and research, I have identified some limitations often faced by start-up businesses and entrepreneurs and these are the recipe to overcome such fear:
1. START ON A SMALL SCALE: To overcome business fear well ahead of time, it is usually more advisable to start your company on a little scale and gradually figure out ways to expand the exact same without wasting more cash on wrong resources. If you don't get to a greater degree, you will lose the chance for further business. In regards to your own business you don't want fear since it will prevent you from stepping from the comfort zone and also you won't have the capacity to grow. When it comes to second example of what the majority of individuals fear in starting an extra business, it's the financial strain of the startup expenses, regardless of your financial status.

2. BEGIN YOUR BUSINESS WITH A PROFITABLE SMALL BUSINESS: No matter your sort of business, if you're in sales, you may be required to do a little bit of form of `Prospecting' for leads and customers. Be certain to identify a profitable small business model, and then you have limited your exposure to risk or loss. This is sometime applicable if you're into a small business opportunity. Fear begins in your thoughts and you have to employ your mind to conquer fear particularly if you desire to increase sales for your personal business. Selling doesn't have to become a fearful experience!

3. IDENTIFY YOUR GREATEST FEAR IN BUSINESS: Many small business owners I've related with had one small business fears or the other. Small business success is all about realizing the real fears from the ones which are self-imposed. In truth, it really is subtle and the majority of people don't recognize this is holding them back from having a prosperous business and a great life. If your inner drive is weaker than the physical energy propelling your business, there is bound to be apprehension and this could lead to business failure and eventual shutdown of such business venture. The final move is to consider the objections which are stopping you from closing the company.

4. BE READY TO TAKE A PLUNGE: When I left Gtbank in 2009, I never wished to go back into the banking job for any reason whatsoever due to so many reasons which are currently manifesting as a result of economic recession, job insecurity, career growth, delusional bankers life, etc. The anxiety about success will allow you to avoid taking action to surely have a thriving business enterprise. Don't forget, small business success isn't about the amount of times you fail but about how many times you have overcome the challenges of being a successful business personality.

5. SEEK MENTORING AND TRAINING: I have lost counts of how many trainings, seminars and business mentoring attended in the last 10years after my National Youth Service scheme (NYSC) and I still attend trainings till this very moment despite offering such to people as well. You need to ask the leaders of your own enterprise whether they have training along with a proven way that will help build your business. You need to master a few techniques to boost your communication skills in order to gain confidence and begin enjoying your company presentations. There are lots of good trainers, mentors and resources accessible to develop your own skills and equip you to really become a productive communicator, prospector and company builder. In case you have the appropriate attitude, a powerful self belief, a complete understanding of your own product and lots of practice, then you are going to not have a thing to fear.
6. BE TRULY HAPPY ABOUT WHAT YOU DO: IF you are not happy about your job or any business you are doing, it becomes extremely difficult to make the best out of such business. I mean, if you're excited about the goods or services you offered to your clients, you adore the people you're meeting within your business surrounding and passionately talked about the business to people day-in day-out, the business will ultimately get the desired brand image. However, if you are too shy to identify with your business or fearful about the reception you are going to get from people you introduced your business to, then, you are not ready to stand alone in the world of business start-ups.

7. YOUR BUSINESS MUST PAY YOUR BILLS: One of the many reasons bankers lived a fake life is through accumulation of credits and borrowing facilities. All sorts and manners of credits are open to most salary earners and this ugly scenario exposes us to frivolities and seeking clamorous needs. Your earnings or income MUST be able to pay your bills and still leave extra for your savings account otherwise; you are deeper in debt shit! And this is precisely why the majority of people don't begin a new enterprise. For example, some people might fear starting a small business as it may not pay their current bills. Even if you possess all of the positive thinking on earth, crazy and unnecessary bills accumulation will never going to get you out of the business fear dilemma.

Source.....http://hollalaycan..com.ng/2016/06/7-top-revealing-secrets-on-how-best-to.html

Ok

Kudos to you op... This write-up is educative.

Thanks for the moral boosting

Going into your own business takes COURAGE..RESILIENCE & KNOWLEDGE






If half of all the graduates arround can be so thoughtful and brave enough to go into various start-ups....NIGERIA would have been much more dynamic than the system we have now.



AM A NIGERIAN YOUTH
I am a PROUD BUSINESS OWNER
I CREATE VALUE and EMPLOY LABOUR
We can all do it guys


Check my signature to know more about what we do

Don't replace prayers for work, it doesn't work

Good one!

deep

thanks op.

Thanks for this piece bro @OP. I'm a prospective entrepreneur plannin to start my own biz soon after finishin NYSC and this is really informative.

naso
don't forget to pay your tax and tithe

Thanks OP I definitely have learn't something fresh dis mrng, and it'll definitely come in handy....

Nice one.

Op... tnx gan. I av a question.. is riding okada an entrepreneurial skill too?

Help me Lord.

nice write up

[quote author=sped1oro post=47029281]I have encountered many obstacles in the last 7 years when I took a dive in the entrepreneurship pool in order to grow my small business idea to a brand name of my dream. At some point, I have been rejected and my proposal turned down many a times, not because my idea is neither fantastic nor needed but rather, maybe it was not just my luck. However, I have also had cause to secure contracts where I least expected and sometimes those opportunities comes on a platter of gold. From my personal experiences and research, I have identified some limitations often faced by start-up businesses and entrepreneurs and these are the recipe to overcome such fear:
1. START ON A SMALL SCALE: To overcome business fear well ahead of time, it is usually more advisable to start your company on a little scale and gradually figure out ways to expand the exact same without wasting more cash on wrong resources. If you don't get to a greater degree, you will lose the chance for further business. In regards to your own business you don't want fear since it will prevent you from stepping from the comfort zone and also you won't have the capacity to grow. When it comes to second example of what the majority of individuals fear in starting an extra business, it's the financial strain of the startup expenses, regardless of your financial status.

2. BEGIN YOUR BUSINESS WITH A PROFITABLE SMALL BUSINESS: No matter your sort of business, if you're in sales, you may be required to do a little bit of form of `Prospecting' for leads and customers. Be certain to identify a profitable small business model, and then you have limited your exposure to risk or loss. This is sometime applicable if you're into a small business opportunity. Fear begins in your thoughts and you have to employ your mind to conquer fear particularly if you desire to increase sales for your personal business. Selling doesn't have to become a fearful experience!

3. IDENTIFY YOUR GREATEST FEAR IN BUSINESS: Many small business owners I've related with had one small business fears or the other. Small business success is all about realizing the real fears from the ones which are self-imposed. In truth, it really is subtle and the majority of people don't recognize this is holding them back from having a prosperous business and a great life. If your inner drive is weaker than the physical energy propelling your business, there is bound to be apprehension and this could lead to business failure and eventual shutdown of such business venture. The final move is to consider the objections which are stopping you from closing the company.

4. BE READY TO TAKE A PLUNGE: When I left Gtbank in 2009, I never wished to go back into the banking job for any reason whatsoever due to so many reasons which are currently manifesting as a result of economic recession, job insecurity, career growth, delusional bankers life, etc. The anxiety about success will allow you to avoid taking action to surely have a thriving business enterprise. Don't forget, small business success isn't about the amount of times you fail but about how many times you have overcome the challenges of being a successful business personality.

5. SEEK MENTORING AND TRAINING: I have lost counts of how many trainings, seminars and business mentoring attended in the last 10years after my National Youth Service scheme (NYSC) and I still attend trainings till this very moment despite offering such to people as well. You need to ask the leaders of your own enterprise whether they have training along with a proven way that will help build your business. You need to master a few techniques to boost your communication skills in order to gain confidence and begin enjoying your company presentations. There are lots of good trainers, mentors and resources accessible to develop your own skills and equip you to really become a productive communicator, prospector and company builder. In case you have the appropriate attitude, a powerful self belief, a complete understanding of your own product and lots of practice, then you are going to not have a thing to fear.
Pls wat kinda lucrative biz can one start wit 250,000

Nyc 1,
1. Make sure u r doing what u love doing. What u love to do will never be a stress for u even if the income doesn't come fast.

2. Believe in yourself becos people might start critics

3. Don't womanize, it kills business. Choose 1 person with dsame reasoning with u. Who will not want to share all your income or brings greater problem to slash your profit with u

4. Be good to people who believe in u n r ready to support u

5. Walk with friends they r more experience than u.

6. Keep away from drinking n smoking

7. Trust n Motivate your workers

8. Be consist with your business. Don't stop because of a little problem etc no tym

Reporting..

Very educative.. thumb up op.

Lexxyfund:
Don't replace prayers for work, it doesn't work

lool... this is so funny but true.
there should be stated be time for both...

Good write up

Awesome !!!

I am intested in sound and profitable business ideas from smart Nigerians within a decent investment threshold. Please, I will really appreciate if you can send me a detailed plan of the business, the cost implication (office rent inclusive), the profit margin, the partnership terms and expected time to break even to enable me make an informed decision about investing. Am looking at an initial investment of a little over a million Naira and subsequent investment depending on the profitability. Contact me on: sundayjiana@yahoo.com please ensure you drop your phone number should I require further clarification. Thank you
my email: sundayjiana@yahoo.com

Flexherbal:
Good one!

My 20 cent:


Time has never being a friend. Manage the time wisely. Let everyday brings you closer to your goal. Amidst and against all odds, your dreams and goals in life are the most important thing to you.


Be fearless. Intrepid. Pursue your goals fearlessly.

Hardwork and smart work. These are two different ways of working that one should learn. Why reinvent the wheel? Work smart if you can. Hard work on the other hand is working hard to achieve that business goal. Though, smart work is preferred over hardwork but not all businesses will thrive on "smart work". You have to work at least a little bit hard too.

Save. Oh lord. I regret and have read and heard regret stories about not saving. Save 80% of your income , spend the other 20. If you had been saving 1000naira a day since the beginning of the year, you should have about 200,000 naira in your account. Do you have that now?


Learn from experiences. Research on those in the same line of business you are in or wants to start. Trust me. Experience is the best teacher.


Start! You have a business dream? Idea? Pls start it. Just start. Dont wait till everything is "fine" before you start. Just start something.


Free your mind, dont hold a grudge always try to be happy. Your state of mind will reflect in all what you do. A cheerful mind is the most productive.

Barigaboy:
Nyc 1,
1. Make sure u r doing what u love doing. What u love to do will never be a stress for u even if the income doesn't come fast.

2. Believe in yourself becos people might start critics

3. Don't womanize, it kills business. Choose 1 person with dsame reasoning with u. Who will not want to share all your income or brings greater problem to slash your profit with u

4. Be good to people who believe in u n r ready to support u

5. Walk with friends they r more experience than u.

6. Keep away from drinking n smoking

7. Trust n Motivate your workers

8. Be consist with your business. Don't stop because of a little problem etc no tym

3 and 6. True

Thanks for the insightful post.
I do have a lot of profit yielding business ideas, but the capital to start is a very tasking problem. Getting loans in nigeria is just so very difficult. Kai nawa o. Even as a youth corper sef, I was still turned down in Heritage bank. If this Nigerian government know they can't offer what they don't have, then they should stop making stupid promises. I just hate being a nigerian.

Thanks for the insightful post.
I do have a lot of profit yielding business ideas, but the capital to start is a very tasking problem. Getting loans in nigeria is just so very difficult. Kai nawa o. Even as a youth corper sef, I was still turned down in Heritage bank. If this Nigerian government know they can't offer what they don't have, then they should stop making stupid promises. I just hate being a nigerian.

I can relate with most of the above, no matter what business, one should start small before going big,it Is a way of testing the market and familiarizing with the environment.
for example like myself, I have started a small business of making and distributing roasted groundnuts in any quantities and sizes. initially, people were making jest of me but I was calm about it and didn't mind. In the long run,they have identified with me and are patronizing me.

It's all good