The other day I was at a business seminar and a very respected business owner who was the Guest speaker was asked if entrepreneurship was meant for everybody or not. I like how he put his answer “it’s like owning a house, everybody is supposed to live in a house but not everybody can build a house” (paraphrased). Everybody needs to work and make an income but you need certain qualities – learned or inherent abilities to be able to start your own business and maintain it.

I share with you a few helpful lessons to guide you in when you finally decide to start the dream business of yours. These lessons may not be fully exhaustive but I hope you find it helpful.

Lesson 1

Build network with the right people. Go to important meetings and nurture relationships with people who can help in your course. You don’t choose which family you are born into but you choose your friends.

Lesson 2

You don’t need money to start a business –yes, maybe not so much money as you think. It may sound like a cliché but I have tried it and it has worked. If the idea/product is good, it will finance itself. Start with what’s in your hands, start from where you are and start with who you can.

Lesson 3

Take the initiative!! What is the worst that could happen – lose money, waste time? Come on, you are not the first to experience that and you won’t be the last. You are better off trying that idea and failing than not trying at all and not knowing the possible outcome. So register that business name, make those call cards and start!! –  “Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it!” ―Johann Wolfgang von Goethe

Lesson 4

Be genuinely happy for others. There is more room up there to accommodate everyone. No need to pull others down for you to survive. Success is contagious so celebrate others and learn from their stories.

Lesson 5

Share with others. Don’t fall too in love with your own ideas. There is always somebody who knows better and can do it better. Knowledge is not a repertoire of anybody so share with others who can add and subtract constructively!!

Lesson 6

Beware of people who take away. Be careful of those you lend out or provide service on credit – even supposed friends and family. Truth is, many whom you trust simply do not care how their actions or inactions affect your business.

Lesson 7

Never trade Goodwill and integrity for anything. It is the most expensive commodity to posses!!

Lesson 8

Money is power –don’t ever belittle its importance. Having readily available cash on you will give you an added advantage in most situations. I’ve seen people acquire products and services at ridiculously low prices just because they had monetary advantage at the time. To paraphrase the clergy man John Wesley when it comes to money -“Make as much as you can, save as much as you can, invest as much as you can and give as much as you can”!!

By: Cosmos Nana Owusu Adjei

Twitter – @chiefcosmos_

IG- @chiefcosmos


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