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Tag: idea

intelligent

I thought those who wore glasses were intelligent

While growing up, I was of the impression that girls and boys who wore glasses were intelligent and smart. It was a weird and unproven belief that I carried for years. Glasses, by the way, is not in any way associated with intelligence or smartness. Unfortunately, I just assumed blindly, that those who had it were intelligent.

Years later, while in the university, I had a funny encounter with a guy who was putting on glasses, and this incident changed my perception completely. It was during our 2nd semester exams and we were writing one of our departmental courses in the School Hall.

I had arrived on time for the exams and was not confident, because I never had the best of preparations for the exams. I was however delighted when a smart-looking guy in my department walked in to sit close to me.

What made me even happier was the fact that he was putting on glasses. I assumed, though erroneously, that he was super intelligent. It was an assumption that backfired so badly.

As soon as the exams started, I did my best to answer 3 of the 5 compulsory questions and there was still time left before the end of the exams. I looked by my side and saw my glass-friend looking so busy and focused. In my thought, I assumed he would be able to give me a hint that would be useful.

I asked him if he understands the number 4 question, and he looked at me blankly. “I was hoping you would help me with the number 1 question he stammered”. At this point, I was confused and disappointed. Later found out he had not written down anything meaningful.

Also found out he wasn’t as intelligent as I assumed, as the glasses were merely medicated glasses. I had to shift focus from my glass-friend and dig deep to complete the rest of the exams. It was a bitter experience.

My perception changed, and the whole idea about glasses and intelligence became a mirage. To date, I never stopped laughing each time I remember that particular incident because it would have been disastrous if I had put all my trust in my glass-wearing friend.

I had learned my lessons and now, when I see anyone putting on glasses, I understand that they are just like me. Some mostly, are just for fun, while others are for medical purposes. We all live in a funny world, and sometimes, our high expectations of others may be counterproductive.

Accessing Funds for small scale business

Accessing Funds for small scale business

Accessing funds for your business remains one of the biggest hurdles to cross when planning to launch your small or medium scale business. Some do say it takes courage to make your dreams come through. I agree to an extent, but let’s be honest. Without money, your courage will be stranded! Some dreams need not just courage, but money to become a reality! 

That’s why entrepreneurs lookout for initial start-up capital to kick start their dream business. To be honest, there are millions of people out there whose dreams of achieving financial freedom have become stagnant due to the lack of start-up capital. We all need the courage to pursue our dreams, but money is like a fuel to take our dreams to its place of destination!

One of the most difficult stages in turning your idea into a tangible business is that of funding. There are however several sources of funding one can explore and possibly utilize when starting up a business.

Your funds

It makes logical sense to start from home. If you are serious about starting up that business of yours, then you must have worked out a plan about saving up for the business. You can never rely on other sources of funding when you don’t have a dime saved up for the business.

The best bet is to open a savings account and start saving before launching your business. It takes a lot of guts and self-discipline to save up. Try to maintain a certain standard which will require you to save a minimum amount monthly.

Friends and Family

Friends and family are the nearest sources for funding your business. You must have saved a tangible amount of cash before approaching them with the proposal for funding. More than 80% of family and friends would want to know the type of business you plan to start and also how much you’ve been able to save up for the business.

Be ready to answer these and more of their questions. One major drawback with this option is the fact that family and friends may want to interfere with your running of the business when they eventually lend you some funds.

Angel Investors

Angel investors are more like business-minded individuals who look out for potential businesses they can plow their funds into. In return, they get a percentage of share in the business. They are usually involved in more than one business, so if you are looking for a huge capital to start up your business, angel investors may not be the best option for you.

Banks

Banks should be your last port of call. They are generally willing to give out loans as long as they can confirm your business has potential. Be ready to check up on the different banks to compare their loan conditions and the interest rate on the loan.

All banks have their conditions and rate when it comes to granting loan facilities to entrepreneurs. Remember, having a good idea is not enough. You must be able to come up with a workable business idea. These are the things that would be required from you when you approach any bank.

Print out a copy of your business plan and if possible have a slide ready for presentation. The business plan must be practicable because no bank will be willing to invest in any business that may not yield any return on investment.

mentor

Creativity can boost your business

Creativity has always been known to be the soul of business success. Creativity and innovation are twin tools that can help give you an edge over your competitors. Apply imagination and creativity to the challenges that inevitably appear as you proceed towards your goal. History is replete with stories of inventors possessing limitless creativity. Inventors like Thomas Edison, Henry Ford, Michael Faraday, and the Wright brothers. These great men triumphed by using the power of creativity. 

They experimented with new materials and techniques that seemed foolish to ordinary individuals. For years, they suffered failure after failure, but they never gave up their pursuit and continued to look for that perfect invention. They were humble enough to learn from the idea of the people and adapt it to their project.

Creativity does not involve only creating an entirely new product! Hear what Brian Tracy had to say: “To create a successful product, the product needs to be only 5 percent different from existing products” It involves doing things differently from what others are doing

In the workplace, for example, there is always the place of creativity where employers are given room to create ideas for higher productivity. When there is room to think out of the box and innovate ideas that are implemented, creativity will ultimately blossom and birth more amazing results.

One of the unique advantages of implementing creativity in business is the higher rate of problem-solving. The business world is always evolving with new technology getting introduced yearly and the need for creativity can never be overemphasized. Another amazing thing about creativity is that it brings a sense of fulfillment to the creative minded. When you can come up with a creative idea that ends up been implemented within the business setup, you ultimately get that sense of satisfaction and fulfillment.

When creativity is implemented in business, you tend to see huge potentials rather than problems. That is what sets the successful businesses from failed ones. When companies want to innovate, they bring in their team of innovators and they usually go into brainstorming sessions where creative ideas are birthed.

Better teamwork is always encouraged via creativity. When team members are allowed the freedom to think innovatively and their ideas are accepted, this can help boost their self-confidence and create a better working environment that can eventually lead to the success of the business.

starting small

Don’t be afraid of starting Small

Starting small can sometimes be a barrier to those who are not patient in life. The starting point of every great accomplishment is froth with discouragement and hiccups. The most important point is starting something, no matter how small that venture or business looks. Like a mustard seed, that small venture can eventually blossom to something beyond your imagination. You can never know how far you can go in life until you try.

When the seed of an idea is generated, do well to plant it on fertile ground and water it daily with patience and hard work. Pour all your time, energy, and resources into it, and watch it grow into that perfect project you envisaged. It is a process that has worked for millions and is still functional. What kills great ideas most of the time is procrastination. You are waiting for the big break. You are waiting for the huge funds to implement the idea.

When Computer giants – Microsoft Corporation was established some years ago by a little unknown boy called Bill Gates, it was never given any chance of survival, but hard work and consistent innovations have eventually made the company the biggest computer firm in the world. It started so small but has blossomed over time. That is the power of starting small.

Some individuals are just too proud to start small; preferring to wait till the perfect time comes before they launch their perfect business. Unfortunately, that perfect time continues to elude them and the idea dies a natural death. Two friends once shared their business ideas. One of the friends had this idea of starting a particular blend of fruit juice.

He already had an idea of the fruit combination to use. Unfortunately, months turned into years and one faithful day, he saw a sample of the exact fruit juice he shared with his friend. His friend had gone ahead to implement the idea after waiting for 4 years, to see what would become of the idea. It was a bitter feud that ensued between them both.

So many individuals are not disposed to starting small, and research has shown that only people who are careful in managing resources and are disposed to a humble beginning can conserve the money to start afresh. We must be able to let go of ego and start doing something positive in the direction of our dreams and goals in life.

journey towards Entrepreneurship

The journey towards entrepreneurship

Entrepreneurship is a journey that usually begins with a step. An entrepreneur is an individual who perceives profitable opportunities and is willing to take the risk in making a success of the enterprise. An entrepreneur remains relatively unknown in his immediate city or community until he/she gets a break. It must be categorically stated, that the entrepreneur is more than just a business owner.

The ever-changing world of business has created numerous definitions of the concept of entrepreneur and business. The 21st-century entrepreneur must be ready to weather the storm that may arise from various sources. The journey towards entrepreneurship requires some specific steps.

Create a unique concept

Firstly, you must be able to create a unique selling concept that has perceived opportunities. Think differently from the ordinary business owner and you will get a different concept of a product or service. Coming up with a unique concept usually takes a while, as the market is already saturated with lots of concepts.

Evaluate the concept

In addition to creating a concept, you need to evaluate the concept. This involves proper scrutiny of the concept to determine if it will stand the test of time. The usual practice is to invite other professionals to a brainstorming session where the concept will be dissected and evaluated.

Draw a plan

Having confirmed the veracity of the concept or idea, the third step is to draw a comprehensive plan, highlighting the strength, weakness, opportunity, and threat to the concept. The business plan is one of the most sensitive documents that can make or mar a concept or idea. Technocrats are needed at this stage for proper implementation.

Launch into the deep

Finally, you have done all the creation of concept and evaluation. You have even drawn up a plan. The last step is the most crucial of all. This is where most entrepreneurs develop cold feet and abandon all the plans and concepts they had labored for over the years. If you are afraid of sharks, you cannot go swimming in the ocean. Similarly, if you are afraid of failure, competition or challenges then you better look for other easy routes to success.

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