THE FULL STORY

SELF ENTREPRENEURSHIP

There is now a prevailing Entrepreneurship vibe among youths particularly students. The country's economy, the lockdown, and too much listening to motivational speakers seem to be the major driving force.

Everyone with an idea believes he can start and run a company on his own, assuming the self- appointed position of CEO. However, an idea is only one part of the puzzle.

Starting and sustaining a business is more difficult than it appears. Eight out of ten startups fail to make it past the second year.

For a business to stand a chance of succeeding, it needs people with Managerial experience, Access to cash and Network. Each of these characteristics is equally important, strategic and complementing one another. You will hardly see anyone possessing all the three at once. That's the reason why you should never start a business alone.

You may have a great business idea, but if you don't know how to commercialize it, don't have the cash to do so, or don't have access to the useful network that can open doors for your company, then you're in for a tough time.

Many people have romanticized entrepreneurship, Bill gate dropping out of Harvard to establish Microsoft or Zuckerberg lying down in his Harvard dorm to come up with Facebook. But, behind all these stories of successes lurks the true narrative of teamwork and collaboration, chance and privilege, hard work and sacrifice.

Now rate yourself against the above criteria, recognize your strengths and shortcomings, and seek partners whose attributes will complement your own, to construct a truly capable team that will compete with your peers.

Even so, Be familiar with your field. Some businesses take years to germinate, necessitating a lot of blood, sweat, and tears. Not everyone will persevere on the long and slow path of entrepreneurship,

not every partner will have the patience and understanding to trust an idea that will take years to materialize especially in a country where people become millionaires overnight. That is why, when selecting partners, one must consider not just those who can bring long-term value to their organization, but also those that have similar goals.

Umar M Alabira. U16 Human Anatomy ABU-Zaria.