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Life is full of principles and it has its own ways of treating anyone who goes against these principles. Most people see life to be frustrating when they venture into their dream business and fail. This is because they often fail to follow or find out the necessary principles of the business before going in to it.

However, this article will reveal some basic principles of success which famous entrepreneurs have used and it will help you in your journey as an entrepreneur. The article will be divided into two parts. Let’s get part one today.

Life is not fair

Conceiving a business idea is something anybody can do. But working towards it and watching it becoming a success is what only few brave minds can do. Nothing good comes easy, they say. A fact one must bear in mind as an entrepreneur. Every great business seen today has been able to survive due to the magnitude of hard work put to it.

Principles of Success for Young African Entrepreneurs Part 1

There is a saying that “every next level of your life will demand a new you.” Consequently, the question any young entrepreneur should ask him/herself should be; am I really ready to sacrifice my time to see my business become a success? Truth be told that for you to be able to beat your chest and say, “I am an entrepreneur” you must have braved some sleepless nights. For anything that have never given you sleepless night, is not worth going for.

Mentor and Role Model

There is no road that a young entrepreneur would want to travel that no one has ever travelled through. Likewise, there is nothing he/she would want to do that nobody has done or tried doing. Thus, having a mentor and a role model will be a good idea for a start. As a young entrepreneur, there should be someone in your life that you are looking up to or learning from. That one person who’s your source of inspiration.

Principles of Success for Young African Entrepreneurs Part 1

Having a mentor and a role model is not a sign of weakness. It’s rather, a sign that you are willing to learn. The essence of a mentor and role model is for you to guide your steps jealousy along your entrepreneurship journey. Also, it helps you to learn from their mistakes and not to fall at the same point where others failed. Don’t forget, no man is an island of knowledge.

Keep your dream alive

Mere refusal to give up is a victory on its own. Many people have allowed their dreams to ‘die’ because of lack of funds to start. Not to forget, dreams are not the things you see when you close your eyes to sleep at night. Dreams worth living for are those things which give you sleepless nights.

Principles of Success for Young African Entrepreneurs Part 1

 

When you take a look at the successful story of great Aliko Dangote then, you will find reason to keep your dreams alive no matter what.

Delay, should not give you reasons to give up. Learn to keep your dreams alive and see how you can archieve them slowly.

Be daring and take some risks   

Entrepreneurs are known to be risk takers. As a young entrepreneur, are you ready to take the necessary risks for your business? There will come a time when you will have to invest your little capital or take a loan for your business, even when you don’t know if the business will be successful or not. You will be left with no choice but to do just.

The likes Mark Zuckerberg, Aliko Dangote and many others have had their share in this. Just as the CEO of Facebook will always say “the biggest risk is not taking any risk.” This alone will make you understand that life is full of risk. Either you take the risk of doing something new or you take the risk of becoming a liability.

Now! Talking about risk, failure should be next on your mind right? In order to become a great entrepreneur, you need to hear what doubt is saying. Entrepreneurs are never afraid of risking or investing and so you don’t have to partner with fear.

Life is made up of principles, no doubt. In as much as failure can occur in most cases you should not be afraid to take risk. You can only know your limit or ability if you take certain risk and break certain principles.

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