As Corper: Have An Entrepreneurship Mindset

Ajuwaya youth Initiative has three main areas it is focused on improving in the lives of youth corp members and they include:

  1. Entrepreneurship development 
  2. Career development and 
  3. Personal development

Every member of our online and offline communities understands how serious we are about these three core areas and if you are a youth Corper (NYSC MEMBER) You can join our whatsapp group here. 

You will get different opinions from different people when you ask them what entrepreneurship is. But, if you read this post to the end you will get clarity on most of the grey areas about entrepreneurship and get guidance on how to engage your entrepreneurial efforts in order to get the right results. 

Definitions: let’s first define the term entrepreneurship according to an online dictionary, entrepreneurship is “skill in starting new businesses especially when this involves seeing new opportunities.”

The Entrepreneurship mindset

Having done this clear, here are some of the reasons why people become entrepreneurs?

But, we at Ajuwaya say it different, we choose to say that entrepreneurship is the act or undertaking of the responsibility of providing solutions to human problems at a profitable price or for the sake of common good. By this definition not every entrepreneurial venture is for profit, some are not profit oriented but serves the common good. Because we can’t have entrepreneurship without an entrepreneur, we choose to say that an entrepreneur is a person or an entity that undertakes the risks, organizes the factors of production and bears the responsibility of providing these solutions. He also enjoys the benefits or suffers the loss associated with this process.

  1. Self actualization
  2. Wealth creation
  3. Employment creation 
  4. To solve a problem 

SELF ACTUALIZATION: people are different in many ways and so for some people becoming entrepreneurs seem the best way to live a fulfilled life. This for them creates the perfect avenue tor them to show their creativity and personality with little or no restrictions.

WEALTH CREATION: many people get into entrepreneurship as a way to make money and create wealth for themselves by selling their products and services to others. As an entrepreneur you are only limited by your ability to create market worthy products and services to help people solve their needs unlike a salary earner whose salary may never increase or take long to increase even if he increases his productivity. This means that as much people as you can profitably serve, the more wealth you can create for yourself and those that are working with you.

EMPLOYMENT CREATION: the statistics on the rate of unemployment shows it is very high and some individuals take it upon themselves to contribute to the solution by becoming entrepreneurs and creating jobs for themselves and others. The truth is not everybody has the genetic makeup that flourishes in entrepreneurship but the good news in that the traits that make one a good entrepreneur can be learned by anyone who wishes to become a successful entrepreneur. With deliberate practice these characteristics become second nature to the person.

Here are some of these habits:

  • Resilience
  • Creativity
  • Problem solving
  • Curiosity
  • Assertive
  • Risk taking

We will have a look at these characteristics individually later so keep reading. 

TO SOLVE A PROBLEM: This is the foundation of every true entrepreneurial venture because if you are not solving a problem that people are interested in solving you will soon be out of business. Entrepreneurs are sometimes individuals who decided they should do something about some societal issues and figured out a way to be rewarded for their actions. 

Let’s go back and look at the characteristics of an Entrepreneur.

RISK TAKING:

If there is one character all entrepreneurs possess without exception, it is the ability to embrace risks and ambiguity. This means that they are willing to bet on opportunities that others think will not succeed. Also, as risk takers entrepreneurs don’t think of playing life safe rather they want to go all in into activities they believe will bring them good profit in the future or some other form of reward which may be tangible or intangible. 

CREATIVITY:

The thing is entrepreneurs meet challenges on different scales and shades for which they provide solutions. This calls for mind shifts in order to solve these problems. So, entrepreneurs bring their unique perspective into the equation when they are solving these problems.

Curiosity and learning

CURIOSITY 

This is the attribute of the entrepreneur that fuels his creativity and problem solving ability. An entrepreneur always want to learn and find out more especially when it comes to their areas of interest. It is this curiosity when properly harnessed that leads them to the right solution to whatever the problem is which eventually announces the entrepreneur to the world at the end.

ASSERTIVE:

One thing for sure is that there must be opposing thoughts and ideas both within and outside the entrepreneur. The role of assertiveness in the life of the entrepreneur is that it helps him maintain a clear course of action even when it seems no one else wants to go there provided his convictions drive him in that direction. If you want to venture into entrepreneurship, it will be necessary to check yourself, if  you are not assertive build it or better still choose strategies to make you more persuasive and keep at it until you get results.

RESILIENCE

The popular saying, “when the going gets tough the though gets going” applies so well here. Most times the idea is not one to come to bring result immediately but the entrepreneur persists most times enduring some hardship in the meanwhile as he perfects his idea into a profitable business venture.

There are more traits to the entrepreneur but, the ones above are really core to the process and vital as well.

In my next post, I will show you how you can build your entrepreneurial ability as a youth Corper.

Here’s to your Success. Cheers!