Israel Olutomi is an indigene of Ikorodu Lagos State, a 35years old, married with two(2) kids. He is a graduate of Lagos State University where he studied Industrial Relations and Personnel Management with a second degree in Corporate Security from SMC University Switzerland. Logistics manager for the Teju Babyface Show, A Business and Entrepreneurial development consultant.
Principal partner Rey’s Consult and lead consultant at Youth Matters Initiative.
I would like to welcome you to the first of many series of the BUSINESS AND ENTREPRENEURIAL DEVELOPMENT CLASSES which would hold every Friday. Its my belief that daily you learn something new that would bring about new opportunities and a spectacular difference to your life and business.
In this particular series we would be discussing on the “Fundamentals of Starting and Running a business”.
A whole lot of businesses failed not because the owner of the business didn’t have a good idea or enough capital but they failed because they failed to understand what it means to start and run such business.
As we all know, no man born of a woman jumps before he could run, nor run before he could walk, neither does he walk before he can crawl. Also every business or enterprise that’s become a household name today had at one time or the other been a start-up business, it had once been an idea on a sheet of paper and a budding idea in the mind of the business owner. But for those household businesses to become what they are today it took some sacrifice and some major steps and principles to become the strongman they are today. They didn’t just arrive at the top.
No matter the amount of money you wish to invest in your business or which you have invested already, you need to know what it takes to start and run that business. Your business won’t run itself neither would you put tons of cash down and it becomes a business in the making. You need the understanding that comes with starting a business and running it successfully. This just doesn’t just happen neither do you just develop instincts for it. It has to be taught, learned on the job or instilled in you.
It takes Discipline,Dogged,Determination, an open mind to new technological advancement that’s beneficial to each individual business, a Teachable Heart and patience to succeed as a budding entrepreneur.
A whole lot of would be entrepreneurs or business men/women went into business just because they wanted to make ends meet and not because they had any particular passion for the business they went Into.
Most held on to a business that’s visibly sinking without noticing it because they had no initial idea about the business they are into.
Most people who go into business do so not because they know about the business but because they saw others doing it and making waves in that business.
Most business owners fail to realise that starting a business is quite different from working for someone else, so when starting out on their business they bring the same mentality they used whilst working and answering to someone else in a corporation into setting up their businesses forgetting that they’ve changed base from a low risk corporate personnel to a high risk business owner.
Starting up a business is not just about you having a solid capital base or you having a passion, it’s more about you been able to manage and maximise your limited resources to drive your passion towards fulfilment of your goals.
On this note we would be examining in critical details next week 3 topics under the Fundamentals of Starting and running a business:
- What Is In Your Hands
- The Making Of a Successful
- Identifying Your Target Market.
It’s my desire that at the end of this class you would be on your way to becoming a more knowledgeable business owner.
Remember until I come your way again next week; “Where The Determination Is The Way Can Be Found”
I remain Israel Olutomi “Business and Entrepreneurial development Consultant and Principal partner Rey’s Consult” 07054223576