Thursday 12 September 2019

Entrepreneurship Free Training


                                            
                 
                     BASIC ENTREPRENEURSHIP COURSE

Entrepreneurship is a trending word in our society today. This increasing awareness is not purely out of choice, but in most cases out of necessity.

What is Entrepreneurship?
The word entrepreneurship is derived from 17th century French word “Enstreprendre” meaning a person who undertakes the risk of new enterprise.

Entrepreneurship can be defined as the capacity and willingness to develop, organize and manage a business venture along with any of its risks, in order to make a profit.

An entrepreneur has been defined as "a person who starts, organizes and manages any enterprise, especially a business, usually with considerable initiative and risk".

Several terms can be identified in the definition of entrepreneurship and you need to understand these terms.

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1. Develop:
Entrepreneurship involves first bringing out an idea. This idea could be developed from an existing business or product. Great entrepreneurs may not be good inventors, but they are good innovators. They are able to take an existing idea, and transform it to a unique product or service. They see ways to make things better. Example: With the rapid adoption of GSM phones in Nigeria, many opportunities were created. The rapid expansion of the networks, resulted in poor service delivery at the initial stage. It was very common for Nigerians to carry two or more mobile phones at the same time, so they could use another network when the other is bad, or to benefit from the numerous bonanzas rolled out by the different networks as they competed for customers. Nnamdi Ezeigbo as an entrepreneur saw an opportunity and approached Nokia in a bid to convince them to manufacture dual sim phones for Nigerians, so they would carry only one mobile phone at a time instead of two. Nokia refused to implement this idea, but he forged ahead teamed up with the Chinese, and brought Techno to Nigeria. This simple innovation and subsequent ones, were widely accepted in Nigeria, and today Techno is a well-known brand, and has made Nnamdi Ezeigbo a billionaire.

           

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2. Organize:
Entrepreneurship involves the critical skill of organization. An entrepreneur is typically in control of a commercial undertaking, directing the factors of production – the human, financial and material resources – that are required to exploit a business opportunity. A good entrepreneur must have the ability to organize these resources in order to execute his business plan and idea. The exploitation of entrepreneurial opportunities may include actions such as developing a business plan, hiring the human resources, acquiring financial and material resources, providing leadership. Organizational skill therefore is a critical component of the entrepreneurial process. Many young people have great ideas, but lack the organizational skills required to bring their ideas to life. Thus they are not good entrepreneurs. Fortunately, organizational skill is one of the components of entrepreneurship that can be learnt. Business schools and programs such as this CEO Entrepreneurship Academy, can easily equip young people with the organizational skill required to bring their ideas to life.



3. Manage:
After establishing a business, proper management is essential to avoid early failure. An entrepreneur is often seen as a business leader. In the early stages of a business venture, the management ability of the entrepreneur (or his team) is critical to the success of the business. 


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4. Risk:
You cannot talk of entrepreneurship, without talking about risk taking. The Entrepreneurial spirit is characterized by innovation and risk-taking. An entrepreneur is someone who can take any idea, whether it is a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need.



BENEFITS OF ENTREPRENEURSHIP TO THE ECONOMY.
1. Economic Growth
Economic growth of any nation depends on entrepreneurs and not government as we all assume.
Analysts’ have come to realize that entrepreneurs are the backbone of modern economies. It is their important contributions that help society grow as a whole. One of the reasons the United States is such a dynamic, innovative, and prosperous nation is because of the numerous business entrepreneurs that take their ideas to the next level regardless of the risks involved. Entrepreneurs create jobs and innovate and grow the economy.


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2. Employment
It is entrepreneurs that provide high job opportunities in any nation and not government as we all assume. It is high time we stopped blaming the government for jobless youths and start to blame ourselves. If all of us in this class open one business or the other, I bet you that it will reduce unemployment by the number of us in this class, if we can only engage just one person each.

3. Improved standard of Living
The standard of living of any society is grossly improved by the number of entrepreneurs in that society. One of the surest way to financial and time freedom is entrepreneurship. This guarantees wealth distribution among individuals in that society. 


5. Peace:
A robust and flourishing economy is usually a peaceful one. Hunger, unemployment, poor standard of living will give birth to anarchy, terrorism, high levels of criminality, kidnappings and other vices in the society.
Conclusion: Entrepreneurs are not inventors as we assume rather normal people who are doing their everyday thing in a unique manner. Most of us are of the opinion that when they invent one new thing, then they can become an entrepreneur. That is a big fat lie. To be candid, if you invent something new, you will need more money to promote it for people to accept it. It is better you take what has already been promoted and bring it out in a unique manner, that is all that is required from you. While I was growing up, water was sold in bottle as ice water. It was 10kobo for a bottle. It was an entrepreneur who thought of putting water in sachet and giving it name and marketing it at a higher price. That is the uniqueness am talking about.
I want you to cast your mind back when “Wonder Foods Nigeria Ltd” came into Nigeria market. Seeing that peak milk has dominated the milk market, they decided to put the normal powdered milk you know into small affordable price sachet milk. The idea was to capture the market of the poor in Nigeria, who has greater population. Knowing that business is turn over, the sachet was selling at #5.00 per sachet. Today even peak has copied them to have sachet milk. Entrepreneurship is all about imitation and uniqueness.
Success is copy and paste, nobody is re-inventing the wheel any longer. Other entrepreneurs saw the great initiative of the person that brought out the first sachet water, and joined him/her, and they were successful too. I will teach you how to discover high selling business and benefit as an early bird (people that are among the first individuals to enjoy the benefit of a new innovative business).
Entrepreneurship that you will learn in this course, will be doing the already known business/things in an unknown manner.

I remain CEO BJ (Entrepreneurship Development expert from CEO Entrepreneurship Academy) who will be taking you in the courses as outlined in our course module. You can reach me at benjamin.unachukwu@ceo-entrepreneurship.com for consultation purpose.

Please copy this link and paste in your URL to submit online the exercise/questions of this course https://goo.gl/wUqi3G