Godwin Omene is a former Managing Director/Chief Executive, Niger Delta Development Commission and Chairman/CEO, Gladson Petrogas Limited. In this presentation made available to Okechukwu Nnodim, he says the single function that constitutes entrepreneurship is innovation
Who is an entrepreneur?
An entrepreneur is anyone who owns a business enterprise for the purpose of making profit. Entrepreneurs include contractors, producers, investors, traders, industrialists, manufacturers, etc. An entrepreneur could also be defined as someone who runs a business at his own financial risk. An entrepreneur can also be defined as someone that sees an opportunity, puts together a team, and builds a business that profit from the opportunity.
A tradesman or craftsman is someone who can produce a product or provide a service primarily by himself whilst an entrepreneur builds teams that take on products that no one individual can do on his or her own, according to Robert Kiyosaki. Thus, an entrepreneur creates employment for people, having pulled them together from different disciples to work as a team with a view to achieving a common goal, which is profit.
What are the secrets of making it as an entrepreneur?
In a broader sense, owners of trading outfits, block-mounting companies, tailoring services, farmlands, information technology companies, electrical/technical companies, welding outfits, business centres, barbing salons, hotels, etc., that have employees, are all entrepreneurs irrespective of their educational background, provided they have basic skills for the leadership and success of these enterprises; and their target is to make profit.
However, the level of success of an entrepreneur depends on several factors, which include his/her educational background, vision, organisation, available funds, environmental condition, government regulation, availability of infrastructure, legal framework, information accessibility, cost control and management, quality of services/products, discipline and determination.
Successful entrepreneurs are uncommon achievers that are driven by the need to achieve uncommon things; to accomplish something difficult; to master, manipulate, or organise physical objects, human beings, or ideas. To do these as rapidly and as independently as possible, to overcome obstacles and attain a high standard; to excel, to rival and surpass others; to increase self-regard by the successful exercise of talent. Entrepreneurship means vision, cheerleading, enthusiasm, love, trust, verve, passion, obsession, consistency, always paying attention, creating heroes at all levels, coaching and effectively wondering around.
Entrepreneurship is much more than one wielding enormous powers and exercising authority but entails, amongst others, ability to monitor, coach, inspire and motivate. Entrepreneurs build teams, create cohesion and resolve conflicts at group level; they build culture and originate change at the organisational level. Successful entrepreneurs are not perfect people but they are brilliant, articulate, creative and productive. Good entrepreneurs attempt to do things that have never been done before. Entrepreneurs require both the heart and the head.
Fully developed, successful entrepreneurs become powerful people. They generate enthusiasm, create waves of favour but still stay focused on their vision. Entrepreneurs are investors. Every achievement in life is the result of an investment. Thus, if you desire to be rich in life, you must be willing to sow the necessary seed. Entrepreneurs are the prime initiators of all economic activities in a mixed economic system.
What are the functions of an entrepreneur?
The function of an entrepreneur could be performed by a single person as in the case of a sole proprietorship or by so many persons either as partnership, private companies, public companies or statutory corporations. Successful entrepreneurs acknowledge the fact that success or failure of their business is dependent on their ability to attract, develop, retain and motivate a diverse group of appropriately-skilled persons.
Managers are not entrepreneurs but persons entrusted with the fiducial responsibility of administering the daily activities of businesses or enterprises profitably by the business owners/entrepreneurs.
According to J. A. Schumper, the single function that constitutes entrepreneurship is innovation. He opined that innovation, rather than risk-taking, is the most important distinction between the entrepreneur and the manager. He said that an entrepreneur’s major goal is the development of new products or services, as well as new methods of production, location of new sale outlets and creation of new organisational strategies. Successful entrepreneurs seem to be scarce commodities today. Most people are too scared to take risks. They would rather be in the comfort zone of salary earning, as they want to be sure of their regular income/salary at the end of every month or period.
What are some qualities of successful entreprenuers?
The qualities include but not limited to good leadership, arranging things orderly, decisiveness, accepting full responsibility for the general operation and success of his/her organisation, perseverance, have above average level of energy, must be very industrious, must have self discipline, fearlessness and boldness, non-procrastination and self-confidence.
We should be aware that we are not born with talents and skills from the onset. We acquire them. Government cannot employ everybody like in Nigeria where our population is over 150 million. Unemployment is a great determinant of a country’s progress and so it is taken very seriously. Individuals should therefore try to acquire one skill or the other to be an Entrepreneur in order to be self-employed in the event you do not have a job.
How would you describe entrepenuers in Nigeria?
There are numerous successful Nigerians in entrepreneurship and skills acquisition. We should follow their examples. I can assure you that Nigeria is full of potentials but a few are spoiling our names and damaging the image of the country. Let us therefore play more on the side of our entrepreneurial knowledge, and showcase our potentials to the world. Then you can find out that these qualities are indeed prerequisite for national development.
How would you relate skills acquisition to entreprenuership?
Skills acquisition is not born with anybody. You gradually acquire it. Like the entrepreneur, you gradually perfect on what you want to do in order to be successfully self-employed. With a high population and numerous universities in Nigeria turning out thousands of graduates every year, there is no ready market to employ them. So we must rely on the principal of self-determination. Young graduates and non-graduates should therefore practice skills acquisition. Such skills acquisition should include but not limited to agriculture, computer training, wood technology, poultry, fish farming, hair salons, pedicure/manicure services, barbing salons, tailoring, etc.
Punch ng
No comments:
Post a Comment