Hello Nairalanders

The report is a compilation of ideas and thought on how an individual especially those on paid job today can plan their transition successfully from paid employment to become a business owner. it is an exposition of how an individual can retire early to create wealth to secure the future and become financially independent by starting and running successfully his/her own multi-million naira business. Is your idea profitable ?



STEP ONE: THE MINDSET FOR SUCCESSFUL ENTREPRENEURIAL
1. Focus on opportunity instead of security :1. Focus on opportunity instead of security : The reality is that life is an insecure state. You can fall ill at anytime or die at any moment. Then start focusing on learning the skills and seeking the opportunities that will make you set for life. Most people never see or capitalize on these because of the illusion of security. And that leaves even more opportunities for you. Real economic security is generated from within. It comes from knowing that you know how to spot, create and capitalize on opportunities. When you master that knowledge. You take a giant step toward financial freedom.

2. Focus on what sell instead of what you know : A common belief of a well-educated professional is “I get paid for what I know “. And if you are a doctor, lawyer, professor, engineer etc that may be the case if you are employed by others. But it is an arrogant and very dangerous attitude when you are on your own. The truth is that the success of any business is not determined by what anybody knows. It’s determined by what sells and how well it sells. Once you are a business owner it’s not what you know but what your customers buy that count most.

3.Focus on getting result instead of following routines: Result are everything you either close the sale or you don’t. You make a profit or you don’t .You keep your over head low or you don’t .Efficiency is doing a job right. Effectiveness is doing the right job. Effectiveness means results and when you’re entrepreneur, result are everything.

4.Focus on earning a profit instead of a paycheck :The job world is more predictable than the self employment world, particularly when it comes to income. If you’re salaried employee, you know exactly how much money you will earn in the next six months. With such predictability, the typical employee mind-set become one of earning to spend. You work hard get your regular paycheck and use it to buy as many goods and services as you can afford. The profit mindset is them.

5.Focus on the vision instead the short term pay off :Most people in the paid job get up and go to the office everyday in return for a paycheck ,interesting work and the opportunity to interact with people they like. They give little thought to what their career and work life will be like in five, ten or twenty years. What are your dream? Get a clear picture of it in your mind eye and focus on it frequently. Then resolve to do something everyday that will contribute to making that dream a reality simple. Keep your sales high and your over head as low as possible .

5.Focus on trying new ideas instead of avoiding mistakes : Don’t expect to be perfect at all time and don’t let the fear of making mistakes keep you from experimenting with new ideas to improve and grow your business. Remember that every mistake and setback carries the seeds of future successes if you are smart enough to look for and learn from.


watch out for the STEP TWO

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