| The need for Africans to pull themselves out of | | | | entrepreneurial mindset has been instilled, any |
| grinding poverty is an urgent task that has to be | | | | type of business whether big or small is able to |
| looked into by the authorities who have the | | | | achieve significant growth. Entrepreneurs in most |
| adequate machinery. The most appropriate way | | | | cases have prosperous personal lives as well |
| to deal with this is to instill a culture of | | | | because they are able to align their business vision |
| entrepreneurship in the masses until it becomes | | | | with their life objectives. This combination will |
| entrenched in the fabric of the society. The | | | | ensure that all aspects are catered for because it |
| masses are often willing to engage in activities | | | | is of no use to have a flourishing enterprise at the |
| that will improve their lives but without the right | | | | expense of a fulfilling personal life. |
| direction, they simply find entrepreneurship | | | | Entrepreneurship can aptly be described as a |
| daunting and unattainable. | | | | business lifestyle in contrast to regular business |
| | | | | self employment which is merely an activity. The |
| A country such as Nigeria is ranked among the | | | | achievement of an entrepreneurial mindset is able |
| poor countries according to the Human Poverty | | | | to turn around any business towards greater |
| Index though we have a large oil production base. | | | | heights. |
| Since the wealth is not trickling down to the | | | | |
| common man, we have to put measures in place | | | | Role of the Populace |
| to ensure that other sources of wealth are | | | | We need to adapt a focused mind and emotional |
| attained. In addition to this, up to 60% of those | | | | state as entrepreneurs. Self examination is |
| who have graduated from institutions of higher | | | | important in helping us to figure out our strengths |
| education do not get formal employment hence | | | | and weaknesses. To be successful in business, |
| the need for alternative sources of income. | | | | there are several questions that all Nigerian |
| There are currently very few institutions that | | | | Entrepreneurs should think about in order to make |
| have made it their mission to spread the gospel | | | | any project successful. |
| of entrepreneurship to the populace as a | | | | - Am I a self starter? In business it is not |
| sustainable method of poverty eradication. Our | | | | possible for things to just happen. As a business |
| Institutions should be able to educate the populace | | | | owner, you have the responsibility for initiating all |
| on issues concerning entrepreneurship. | | | | the business practices that will stimulate sales. The |
| Entrepreneurship vs. Self Employment | | | | vision of the owner is the driving force for any |
| Our citizens should learn the difference between | | | | business enterprise. |
| self employment and entrepreneurship. The | | | | - Do I think positive? Any time a person becomes |
| two seem to be one and the same thing to many | | | | a business owner, you have an optimistic outlook |
| Nigerian entrepreneurs however, they have a | | | | on your activities which will reflect on the |
| distinct difference. An entrepreneur is a business | | | | progress made. Any employees or fellow |
| proprietor who carries out business with ease and | | | | entrepreneurs will notice this optimism and are |
| maintains growth while getting satisfaction of all | | | | likely to feed off this energy. |
| the business activities. The entrepreneurial mindset | | | | - Do you have discipline? Compared to formal |
| is that of a strategist and a visionary. On the | | | | employment that has fixed hours and limited |
| other hand a self employed business person is | | | | motivation, an entrepreneurship is an on ongoing |
| one who simply seeks to tap a financial niche | | | | commitment that requires dedication beyond the |
| without much regard for objective planning. This | | | | standard working hours and there needs to be |
| type of business person may not necessarily | | | | lots of attention to detail to ensure business is |
| enjoy what they do. While an entrepreneur is | | | | maintained. Our entrepreneurs require the will to |
| focused on growth and expansion, a self | | | | resist any distraction and temptations that could |
| employed business owner may be content with | | | | keep them from achieving their objectives. |
| the current income levels, thus seeing no need for | | | | - What are your objectives? The expected goals |
| new strategies. Many Nigerians are self employed | | | | and target need to be set in advance and our |
| but their current state of living does not reflect | | | | entrepreneurs should always have them in mind |
| much prosperity and it is until entrepreneurship is | | | | when conducting business |
| instituted that things can change. Given that the | | | | Following Suit |
| unemployment rate is about 6% according to | | | | Africa is able to learn a lot from the developed |
| statistics, it is vital for Nigeria to consider | | | | nations concerning entrepreneurship activities and |
| Entrepreneurship as a solution for creating jobs | | | | their impact on the lives of citizens. The European |
| for the unemployed. | | | | Union (EU) for instance has put plenty of |
| | | | | emphasis on the promotion of small and medium |
| Innovative Entrepreneurship | | | | sized enterprises which has resulted in the |
| The lay person needs to know that being an | | | | creation of over 75 million jobs. In fact, many of |
| entrepreneur requires a considerable amount of | | | | these jobs in the EU are being done by Africans |
| sales and marketing skills. This may put some | | | | who have fled their countries to earn a better |
| people off because they do not consider | | | | living elsewhere. With the right economic |
| themselves as business people. However, there is | | | | mechanisms in place, these migrants would not |
| no business that can progress without an | | | | need to go to far flung countries to seek a |
| aggressive sales strategy. We should also | | | | decent living. |
| know that entrepreneurship is dynamic and plenty | | | | Governments' role |
| of thought has to be invested in coming up with | | | | Currently, most sub Saharan countries use less |
| new innovations to enhance business. It is evident | | | | than 2% of their gross domestic product (GDP) |
| that consumers' needs change every so often | | | | on infrastructure that will help scale up trade. This |
| therefore new strategies need to be put in place | | | | is considered very little and in order for trade |
| and old methods reviewed for out | | | | practices to greatly boost the economy of |
| entrepreneurship sector to be successful and | | | | Nigeria, approximately 10 % of our GDP should go |
| effectiveness. | | | | into building of investment capacity. Only when |
| Creating the Mindset | | | | this happens can there be a shift in our people's |
| Nigerian entrepreneurs should be good strategists | | | | mind frame leading to a more productive and self |
| not afraid to make calculated risks after making a | | | | sufficient nation. |
| careful assessment of situations. The moment an | | | | |