Are you currently thinking of starting a business and you are surrounded with a lot of “what ifs”? What if the business does not succeed? What if you do not break even? What if customers refuse to come? You are not in this alone. Even as I am writing this, I am having the same experience. What you need to know is that successful business owners all had their “what ifs” seasons but they still went ahead to confront their fear and set up the business. That is why we have Microsoft, Dell, Interswitch, Dangote, Globacom et al today.

Thomas Edison tried thousands of different materials in search of a filament for the light bulb. When none worked satisfactorily, his assistant complained,

“All our work is in vain. We have learned nothing.”

Edison replied very confidently,

“Oh, we have come a long way and we have learned a lot. We know now that there are thousands of elements which we cannot use to make a good light bulb.”

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Starting a business is more than having a great desire… It is all about finding a need and filling it. You need to be passionate about solving problems. Entrepreneurship is the art of finding profitable solutions to problems. If you need to be a successful business owner, you must always have eyes for solutions.

One of the characteristic of a successful entrepreneur is the ability to identify a problem and come up with its solution before someone else did. We are surrounded with needs you everyday. Your responsibility is to find them and fill them. Human needs and wants are unlimited. This makes the opportunities for entrepreneurship and financial success unlimited also. The only constraints are the ones you place on your imagination.

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Our school system has been designed as an environment to enlighten young minds, to replace ignorance with understanding and thereby improve the quality of life. Our educational system has obviously been successful in many areas. However, it has woefully neglected one important subject, “How to Earn Money.”

You can earn a doctorate degree in economics and have little or no knowledge of how to earn money. A lack of understanding in this area is the cause of numerous unwanted and unnecessary problems, since money is the medium of exchange that is used worldwide for other people’s products and services. Bob Proctor has a very useful write-up on this. (more…)

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