I've been asked this question several times, especially when I'm at a conference that is secretly searching for marketers.
It's very annoying when all they want is to make you a marketer of their products but insist on using the word entrepreneur to confuse you into marketing for them.
That is why we go to school—to learn and acquire the necessary knowledge that can help us defend ourselves and get angry at people who try to deceive us.
That is why we not only read textbooks but also different kinds of books, as no knowledge is a waste.
Entrepreneurs own their own businesses, work for themselves, and mostly produce their goods themselves. They don't have bosses to whom they are accountable at the end of the day; they control their time and actions.
That being said, my answer to the question in the first paragraph is always the same: "I want to be my own boss and employ people to work for me." As a student, I have two things going on in my life that bring me profit. Both of them are what I love doing so much. The first is wig-making, and the second is writing.
I have made a lot of wigs for my friends, family, and strangers. Also, I have written for my friends, family, and strangers. I learnt that entrepreneurs start by managing and satisfying the first two groups I mentioned before the third one. And I've been trying my best so far to deliver.
The exams I wrote a few days ago, which happened to be my last exams for the school year, were on entrepreneurial studies. I learnt a lot from the textbook they gave us, but the most outstanding thing I learnt was how businesses fail. I loved this topic because I have been struggling to keep up as an entrepreneur. I know that if I'm to be a successful entrepreneur in any field in the future, I should be able to manage these two things I'm doing now: wig making and writing.
So, I tried to relate these two things—my life and what I learnt from that textbook. Please permit me to share it with you here.
The first is the lack of business plans. It is undeniable that we, as writers and entrepreneurs, need a business plan. We need to set out goals, the methods through which we are going to achieve the goals, and the time frame within which these goals must be achieved.
Goals, or let's call it a business plan, help us stay motivated, focused, and on track. Any entrepreneur without a business plan is prone to procrastination and failure.
The second thing is poor customer management. I've learnt to be honest with my customers, letting them know what I can and cannot do.
When given urgent work, I check my schedule first to ensure it won't interfere with my studies before giving feedback on meeting the timeframe. I also listen to their complaints and strive to satisfy them.
I'm applying the same principle here on Hive. I aim to write quality posts to not disappoint my readers and friends. I make sure to read and reply to all the comments on the posts. The effects of doing this may not be noticeable, but the truth is that it is very important, and failure to do it may thwart my growth.
Last but not least is the behaviour of the entrepreneur.
I'm not the type to hide my flaws behind personality and zodiac signs. I believe anyone can change their behaviour despite what their zodiac sign says.
An entrepreneur's behaviour significantly impacts their business; this includes consistency, self-discipline, and habits. Other reasons for business failure often trace back to the entrepreneur's behavior. Achieving goals requires self-discipline, and customer management reflects the entrepreneur's character.
I am guilty of some of these behaviours, most especially self-discipline. I know I lack it, and I'm trying my best to cultivate it.
It's tough to break bad habits and adopt good ones because bad habits feel natural, while good ones demand conscious effort and stepping out of our comfort zone.
Attending a state of perfection is delusional, but aiming for it isn't. Small steps in self-improvement can lead us closer to perfection. And it doesn't have to match the definition in the dictionary; being a healthy, independent, and successful individual could be our version of perfection.
However, I am the kind of person who focusses more on what I do than on the results I achieve. I believe that if I do well, the results will be good.
Being a successful entrepreneur requires a lot of self-development—socially, mentally, economically, and emotionally. We need to work on ourselves from within to build a successful business.
Studies have shown that more than 50% of businesses fail within their first two years, a trend evident even here on Hive. Success demands a significant investment of time and hard work.
One great aspect of life is the opportunity for continuous growth and development. This opportunity gives us hope of becoming the person we aspire to be, no matter how long the journey is.
Thumbnail design using canva. Other images are mine.