The government keep hammering on the importance of entrepreneurship. They encourage youths to acquire skills and start up business. The problem now is that there are just too many business doing the same thing.
Somebody started a successful provision store. He was making it until 16 more shops sprang up almost overnight to tap into the market share. We have forgotten that the purpose of business is to solve a problem.
This is just why most business fail. Most business are basically doing the same thing. Every successful business today is a problem solver.

If you read 'Entrepreneurship and Innovation' by Peter Drucker,you would understand that the true essence of Entrepreneurship is far from the average Nigerian.
In fact,even the Federal Government has misunderstood the whole concept.
Our political leaders that advocate for the so called 'Entrepreneurship' would not even let their own children come near it.
After sending them abroad to acquire quality education,they are secretly employed in top firms and parastatals like CBN and NNPC,while others are given top managerial positions in their parent's companies.
The real Entrepreneurship is a 'first resort',not a last resort.
lalasticlala,Mynd44

In my state of residence Kogi, there are basically an excess supply of skilled labour because everybody wants to do the same thing. In the food business the competition is fierce. Some even use charms on themselves.
The reason for this is that we are not thinking outside the box. Every body I meet these days want to do affiliate marketing. Even with the excessive pool of affiliate marketers.
In the transport business the motor cyclists outnumber passengers.

Everybody wants to be the next facebook. Or whatsãpp.
Entrepreneur are risk takers. The most reason why people go into me too business is because they think it is safe and easy.
You do things today and the imitation is already out tomorrow. Don't just write a novel because it is nice to write one. Do something inspiring.
Avoid copycat market strategy, be unique and a trail blazer. When ever I am on federal roads, I see thousands of failed filling stations. They were not started because of they were to solve problems but to make money.

eezeribe:
If you read 'Entrepreneurship and Innovation' by Peter Drucker,you would understand that the true essence of Entrepreneurship is far from the average Nigerian.
In fact,even the Federal Government has misunderstood the whole concept.
Our political leaders that advocate for the so called 'Entrepreneurship' would not even let their own children come near it.
After sending them abroad to acquire quality education,they are secretly employed in top firms and parastatals like CBN and NNPC,while others are given top managerial positions in their parent's companies.
lalasticlala,Mynd44

the book that changed my worldview is start with why by simon sinek..
I cant even count the number of hair salon in my area. Most of them are closing their doors daily.

same issue in Agric. no innovation

Good writeup bro! Truth is most Nigerian entrepreneurs are so lazy.
They always want the easiest way out. To be an innovator does not come cheap.
It takes hard work,passion & dedication to be one.

hmmm deep

Not forgetting, boutique,everyone wants to sell dubai,u.k, turkish clothes too. it's disheartening.

To think that everybody starting a business is an entrepreneur is a misconception. People take risk by starting a new shop or a franchise but they are not really creating any value.

My friend noticed a particular product in Nigeria is usually imported. No nigerian product of that commodity. So he wrote a business plan, saved N250k to start that business. He couldn't get funded as planed so he divided to start small with his money. After registering a business name, he went to NAFDAC and was asked to pay N450k that they do not have standards for the product as it is new in Nigeria, secondly, his factory must be ready for inspection before anything can happen.

The guy carry the money start small retail shop. What Nonsense!

Olayinka777:
Good writeup bro! Truth is most Nigerian entrepreneurs are so lazy.
They always want the easiest way out. To be an innovator does not come cheap.
It takes hard work,passion & dedication to be one.

They are not lazy...

How many business lines have you started?

Do you think its easy to successfully startup a registered business in Nigeria especially with funding? The so called NAFDAC is not even helping matters.. Don't be so quick to call names except you have tried and successfully registered/ started your business.

Most Nigerians venturing into business don't think outside the box, the worst is even the Yoruba's, a woman started selling chin chin in my hood, she was making good sells, before you know it, other Yoruba women in the same area started same thing, now all the Yoruba women there are now chin chin seller. The worst is before you know it, they will start fighting you with their Otumokpor. I raise Nyash up for dem.

conceptz21:


They are not lazy...

How many business lines have you started?

Do you think its easy to successfully startup a registered business in Nigeria especially with funding? The so called NAFDAC is not even helping matters.. Don't be so quick to call names except you have tried and successfully registered/ started your business.

Lol! Hmm hmm! They are not lazy? I see! Mind u,I have registered businesses boss & I am creating value. I help others too to do so by rendering services to them & I get rewarded/paid at the end of the day.

Olayinka777:
Lol! Hmm hmm! They are not lazy? I see! Mind u,I have registered businesses boss & I am creating value. I help others too to do so by rendering services to them & I get rewarded/paid at the end of the day.

Go to NAFDAC and register a food/drug product that is new in Nigeria. Then come back and share your experience. You think its all this ventures you're opening around.

You are not allowed to call someone lazy just because they decided to join the existing trend of business. Call them lazy if they were not doing anything at all. Especially when you have not heard their experience

conceptz21:


Go to NAFDAC and register a food/drug product that is new in Nigeria. Then come back and share your experience. You think its all this ventures you're opening around.

You are not allowed to call someone lazy just because they decided to join the existing trend of business. Call them lazy if they were not doing anything at all. Especially when you have not heard their experience

Guy what are u talking about? I would rather open a venture as u have put it and create innovation than sit and do nothing.

Yes I know our government agencies can be so discouraging and frustrating.

My brothers on Nairaland.
Most of us keep complaining daily about how much the government has failed us. Are you not tired of complaining? There are huge problems to be solved in this country. These problems are opportunity for anyone who can solve them. It requires huge capital to undertake these projects. We are all waiting for dangote to start up a refinery for us.
If we unite together, there is nothing we cant do. We all are richer than 10 dangotes combined.