UNDERSTANDING ENTREPRENEURSHIP

Photo by D A V I D S O N L U N A on Unsplash

People often think that entrepreneurship is synonymous with doing business alone, so they consider anyone who is into buying and selling to be an entrepreneur.

Although entrepreneurs are also involved in a business, the difference between an entrepreneur and a trader is mindset.

While an entrepreneur thinks of being a solution-provider, a trader thinks of selling his products for profit alone.

While an entrepreneur takes risks, a petty trader wallows in whatever level he finds himself; while an entrepreneur thinks of job creation, the petty trader sits in his stall as the CEO, COO, HR, and occupies all the positions that could ever exist.

An entrepreneur’s business is people-focused but an ordinary trader thinks of himself first. However, both of them also look forward to maximizing profit.

An entrepreneur is a response to the people’s needs while a petty trader is a response to self-need.

This is why entrepreneurs go as far as conducting marketing surveys and interviewing customers to be sure that their products or services are serving their purpose.

Customer satisfaction is considered paramount. But for that petty business person, if you express your dissatisfaction over a product you bought, you might not like the feedback because they do not care if you come back to patronize them or not.

An entrepreneur is driven by passion; the petty trader is driven by conditions. Passion is what distinguishes two people who are doing the same thing.

The man with passion can go out of his way and make the necessary sacrifices needed to excel in whatever he does, but the other person driven by condition had no inner strength to withstand opposition.

This is the reason you would see a person who has tried over five different businesses in one year and has not settled at any.

There were kicked out of the businesses by challenges and loss, but an entrepreneur will persist, reevaluate his moves and strategies, find out about the things he has not done right, and relaunch.

And guess what?

With all his homework and research rightly done, he is sure to succeed.

Now, you can ask yourself, ‘Am I an entrepreneur?’

The Chairman of Enadama Group. The Founder and CEO of Farm4Me Agriculture Limited.