Wednesday, 1 February 2023

THE FIVE Cs of SUCCESSFUL ENTREPRENEURSHIP

AUTHOR:  BENJAMIN ANABARAONYE

AFFILIATION:  BENJY POETRY AND MUSIC GLOBAL CONCEPTS

COUNTRY:  NIGERIA

 

INTRODUCTION

Entrepreneurs are the necessary link in bringing new ideas and innovative solutions to the communities, cities and countries of the world. An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying the most of the rewards. An entrepreneur is a starter. He is also an initiator, a challenger and a driver of change. In this article, we shall explore the five Cs of successful entrepreneurship in Africa and globally:

1.     CREATIVITY: Creativity is simply the ability to make profitable use of the imagination. It is also the act of turning new and imaginative ideas into reality. Through the profitable use of imagination, an entrepreneur can put aside the norms and think of something innovative which will help make the world a better place.Creativity enables an entrepreneur to disconnect from the accustomed and move into new territories with an aim to discern unique and useful solutions to the problems of humanity. Creativity helps the entrepreneur to increase productivity and maximize profitability. Lack of creativity could easily drag any business to the stagnation mode. As an entrepreneur, you should think creatively and take appropriate action.

 

2.     CONNECTIVITY: Connectivity involves the ability of entrepreneurs to network with customers, mentors and potential investors towards achieving their business goals. Connectivity highlights the fact that no one can make it in business all alone. Businesses are connected to each other and they need each other. John Maxwell rightly affirmed that “Team work makes the  dream work”. Every entrepreneur that desires success and growth need to connect for partnership, mentorship, mutual and financial support, etc. Effective connectivity demands good networking and communication skills.Connectivity enables you to build, maintain and sustain strong relationships with other entrepreneurs from different age groups, nationality and professionalism.One of the ways to increase your connectivity is by attending networking events organized around the world which bring together groups of highly skilled and talented entrepreneurs.Secondly, make productive use of your social media handles to connect with relevant individuals and institutions who will help to move your entrepreneurship forward.

 

3.     CONSISTENCY:To be consistent means that you will repeat what you are doing and with each repetition, you will be better and better. Consistency requires that you stick with the right goal, plan, team and actions even when tempted to falter. Consistency is one of the most powerful qualities required for success in entrepreneurship. Conversely, absence of consistency is one of the fastest killers of success. Consistency is a critical part of maximizing the effectiveness of  your  time, assets and resources towards successful entrepreneurship.

 

4.     CLARITY: Clarity is the quality of being clear or transparent. Entrepreneurship requires clarity of goals and objectives which must be pursued with coherence. Clarity leverages internal and external resources to empower an entrepreneur to act, innovate and offer solutions that support his or her visions and goals. If you are going to reach new milestones this new year as an entrepreneur, you should have clarity in these three vital areas of business: a)Clarity on why you are building a business.

b)Clarity on whom are your customers and how you communicate to them. When you have clarity of the target customers, you can easily find where they are and the best way to reach them.

c)Clarity of your desired end results, end products along with the benefits. Take some time today to get clarity.Get clarity of strategy and how it all connects together. Then map out tactics and take appropriate action, then successful entrepreneurship  is assured!

 

5.     CREDIBILITY: Credibility is the quality of being trusted and believed in. It is an attribute of an entrepreneur who is reliable and trustworthy. Crucially, credibility in business is linked to certain attributes such as honesty, integrity, clarity of purpose and transparency in dealings with customers. Credibility automatically assumes centrality in the creation, sustenance and expansion of business operations. It allows those who rely on you to know they can count on you, trust you, do business with you and align with you. John Maxwell rightly affirmed “ Credibility is a business leader’s currency; with it, he or she is solvent; without it, he or she is bankrupt”. Successful entrepreneurs are able to develop credibility, sound business reputation and satisfied customers.

As we’ve stepped into the  beautiful new year 2023, seek to imbibe these outstanding qualities to enjoy a smooth ride in your journey to successful entrepreneurship.

 

 

REFERENCES

1. Clarity:The secret weapon to experiencing explosive business growth. www.entrepreneur.com/article/328798

2.  in entrepreneurial success. http://danascranton.com/consistency

3. The importance of business networking for entrepreneurs. https://startupistanbul.com/blog/2014/11/the-importance-of-business-networking-for-entrepreneurs/

4. The role of creativity in entrepreneurship. www.alphagamma.eu/entrepreneurship/role-creativity-in-entrepreneurship/

5.10 powerful ways you can earn credibility in your industry. www.inc.com/lolly-daskal/10-powerful-ways-you-can-earn-credibility-in-your-industry.html

6. Unleashing the power of human capital for sustainable development in Africa. www.projectgreeninitiative.wordpress.com/2019/11/29/unleashing-the-power-of-human-capital-for-sustainable-development-in-africa/

 



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