Why Do You Want to Be an Entrepreneur?

In every nation, it is required that there should be the existence of serial entrepreneurs. This would be of great advantage to the economy of the nation. If you take a look at developed nations, you will find out that their economy survives on entrepreneurship.


Nigeria needs more entrepreneurs but first, we all must answer the question of ‘Why Do You Want to Be an Entrepreneur?’

This post is short. It is short so as to help you do more of writing and thinking. Before you go ahead, you will need to get a writing material. Get a booklet and a pen. Do that now… Ohkay. Now you have your writing materials. Now answer the question of Why Do You Want to Be an Entrepreneur?’ Take a few minutes to answer the question in your booklet.

Now answer the following questions…

Do you have the determination and belief in yourself to succeed even on the most challenging days?
What’s your vision you want to share with the world?
What does success mean to you?
How will you get your business Idea?
Where do you intend to locate your Business and why?
Why will you succeed ?
What is your unique selling proposition?
What is your business name?
When will you register your business?
When will your business be incorporated?
What will be your Annual turnover (range)?
Describe your product/service
Number of people the business will employ
Describe your business.
How unique are your products/services, what is the need?
What is particularly innovative or original about your business (i.e. innovative idea, processes/market, products etc)?
Describe your market.
Who will buy your products and/or services?
What is the size of your market, and how is it growing? Where are the growth opportunities?
Why will people buy your products and/or services?
What makes them unique?
What is the competition?
How will it change and why are you better?
How will your business make money?
How profitable is it?
What five things do you need to do in the next six months to expand your business?
What qualifications or experience do you have to run this business?
What are the risks you foresee in this business?
How will you overcome these risks?
How much money do you need to expand your business?
Number of new people the business will employ every year:
Projected Annual turnover
Location of Business

I’m sure you have written out all the above questions. Go ahead and spend time to think through them and write down your decisions. Make sure you go through your answers everyday until they are fulfilled. Please note, these are not all the things you need to become a successful entrepreneur. More will be revealed to you in the course of running and managing your business.

I read somewhere before writing this that 189 successful African entrepreneurs were surveyed and it was found out that most of the really successful ones among them have at least 6 different types of business. You have a long way to go but learn to take one successful step after the other.

I hope this helps. If this is your first time here or you are not part of our subscribers, feel free to subscribe with your email so you can always get future effective updates sent to your email address.