So you want to make money in your business?
But, it takes an understanding of some factors to make this needed money…
Firstly, What Do You Know About Entrepreneurship?
Secondly, What Benefits Does Entrepreneurship Have On Human Existence?
Thirdly, How Can You Start And Make Money In Your Business?
How to make money in your business and many more we shall be learning in this blog post.
Sit tight and read this blog post till the end.
But, if you are like me, a busy entrepreneur, you would like to DOWNLOAD THE RECOMMENDED E-BOOKS FOR THIS BLOG POST and READ them later…(See links below):
Recommended Book On How To Make Money In Your Business #1:
Commanding Wealth Through Entrepreneurship
Recommended Book On How To Make Money In Your Business #2:
Strategies For Business Exploits
Recommended Book On How To Make Money In Your Business #3:
Cracking The Wealth Code
Recommended Book On How To Make Money In Your Business #4:
Cracking The Debt Code
WHAT DO YOU KNOW ABOUT ENTREPRENEURSHIP SO AS TO MAKE MONEY IN YOUR BUSINESS?
# Entrepreneurship is the pursuit of opportunities without regard to resources currently controlled.
# Entrepreneurship is not a set of skills but a process, a belief, and a commitment.
# Someone defined Entrepreneurship as a sentence of failures punctuated by brief success.
# Entrepreneurship is a mode of thinking and acting.
# Entrepreneurship is a way of observing the world, of figuring out how to change it (Hopefully for the better), and, of becoming the person who is capable of implementing that change.
However, Entrepreneurship is more valuable, more challenging, and sometimes more difficult to explain, even for those who practice it and teach it.
# Entrepreneurship is a major means through which the saints can successfully control the wealth of nations so that the world would not control God’s people (Isaiah 61:1-5):
The Spirit of the Lord GOD is upon me; because the LORD hath anointed me to preach good tidings unto the meek; he hath sent me to bind up the brokenhearted, to proclaim liberty to the captives, and the opening of the prison to them that are bound;
To proclaim the acceptable year of the LORD, and the day of vengeance of our God; to comfort all that mourn;
To appoint unto them that mourn in Zion, to give unto them beauty for ashes, the oil of joy for mourning, the garment of praise for the spirit of heaviness; that they might be called trees of righteousness, the planting of the LORD, that he might be glorified.
And they shall build the old wastes, they shall raise up the former desolations, and they shall repair the waste cities, the desolations of many generations.
And strangers shall stand and feed your flocks, and the sons of the alien shall be your plowmen and your vinedressers.
#: Entrepreneurship is a major way TO LIVE in freedom so as to be in total control of your time, finance (Money), family, ministry, business, career, etc. (This is because whosoever that controls your time invariably has full or major control over your life)
#: Entrepreneurship is a way TO LOVE. (See: John 3: 16):
For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
If you love the people of the world, what are you giving to them? If you love God, what are you giving to Him?
#: Entrepreneurship is a way TO LEARN: You do not know anything if you think you know. Knowledge is not to be assumed but to be consciously acquired and applied. Those who think that they know too much to learn are too small to earn. The worst-case in life is when you do not know that you do not know. This is the reason why many people are struggling through business and life generally. Do you want to consistently learn? Then, be an entrepreneur!
#: Entrepreneurship is a major way TO EARN: No matter what your employer pays you as your salary or wage, you cannot be richer than your employer in the same system. You make a lot of money for him/her. At the end of the business period, you would only receive a little fraction of the same money you made as your salary/wage.
#: Entrepreneurship creates jobs: Are you not bothered about the unemployment rate of this country? Then, create jobs! Build businesses! Employ the unemployed! That will bring great joy to God because you are really fulfilling His mandate upon your life, here on earth. This also qualifies you for eternal rewards and promotions.
#: Entrepreneurship is also a major tool for terminating poverty in any nation: No nation is rich until it is productive. Any nation that is not productive will end up as a product-thief. The difference between what you produce and/or sale, and what you consume or purchase is a major determinant of your prosperity or poverty level. When what you are consuming is higher than what you are producing, you must end in poverty. But, when the reverse is the case, you must surely prosper in the long run.
WHAT ARE THE BENEFITS OF ENTREPRENEURSHIP IF YOU MUST MAKE MONEY IN YOUR BUSINESS?
Entrepreneurship provides money to the owner in the form of profit since the essence of going into entrepreneurship normally to make a profit.
It makes you become a good leader because leadership is all about service. Anybody that wants to lead must serve. Therefore, since you are viewing people’s needs and wants and trying to solve them, that means you are a leader.
Entrepreneurship provides employment to the unemployed. For instance, one of the statistical revelations in the USA revealed that over 23 million small businesses employ more than 50% of the private workforce.
Entrepreneurship increases the standard of living of the people. This is because those who are self-employed today are helping to boost the economy of this nation.
Entrepreneurship teaches you how to be more rational in thinking.
Entrepreneurship makes you see opportunities fast and utilize them for your good.
Entrepreneurship supplies a rational and humane system of rewards in exchange for individuals’ productive efforts.
Entrepreneurship provides earthly well being.
However, it takes responsibility to enjoy benefits. There are many expected responsibilities for a real or intending entrepreneur …
WHAT IS EXPECTED OF YOU AS AN ENTREPRENEUR SO AS TO MAKE MONEY IN YOUR BUSINESS?
Claiming to be an entrepreneur without fulfilling the expectations of the people you serve is an error of the highest order.
There are many attitudes expected of an entrepreneur. These might be psychological, sociological, or economic. However, if an entrepreneur possesses the three traits, he is a visionary man. Thus to become a successful entrepreneur:
YOU MUST POSSESS STRONG DESIRE FOR RESPONSIBILITY AND INDEPENDENCE: It is what you desire that you deserve. Desire is a factor that generates motion. The desire to be responsible and independent makes one step out into action to actualize the vision.
To be responsible is a function of personal growth and maturity. Any irresponsible person in life is still a baby. Thus, if after graduating from School or from learning a particular trade, you are still depending on your parents or master to take care of your bills, accommodation, and feeding, you are simply irresponsible.
Until you become responsible, you cannot create any business. Therefore, a business person should be responsible and independent, though still depending solely on God the Maker of Heaven and earth.
YOU MUST HAVE HIGH NEED FOR ACHIEVEMENT AND SUCCESS: Until you see the reason(s) why you need a thing you might never value that thing. It takes a conscious desire for achievement and success to make an impact in entrepreneurship, thereby generating greater profits.
An entrepreneur must have a high need for achievement and success. It is a passion that creates motion in entrepreneurship. Looking for the product (reward) without having a taste for the process (action) is frustration without knowing.
Therefore, passion for success and achievement is a major indicator of a prospective entrepreneur.
Do you have like passion? Then, you are on your way to becoming a reputable entrepreneur.
YOU MUST HAVE A HIGH DEGREE OF SELF CONFIDENCE: Self-confidence is the foundation for self-accomplishment. Until you are confident in life, you remain at the mercy of the dungeons of life. Without self-confidence, your life becomes a ‘threat dumping ground’. No one intimidates or molests a person who is confident. In the same vein, no situation can intimidate a confident person.
Self-confidence makes you confrontational in life. Thus, when you are self-confident, you become a solution-bearer, thereby, solving the seemingly hydra-headed problems of man.
Hear this: The world is a place of intimidation. Nature intimidates you. Success intimidates you. Life generally intimidates you. But, when you are confident and confrontational, you create a business around a particular problem and make untold wealth.
Thus, a potential entrepreneur must be self-confident to make it in entrepreneurship.
YOU MUST HAVE EXPERIMENTAL ABILITY OR EMPLOY A PERSON WHO HAS IT: It takes expedition and exploration to become an entrepreneur. It is only those who want to take a risk and taste the seemingly uncomfortable places of life that make an impact on the earth.
Experiments unveil new grounds for exploits. Any acclaimed entrepreneur who does not experiment is a failure in disguise. He/she might not last in such entrepreneurship.
How do you hope to face the hydra-headed competition in the marketplace today sequel to information overload that has made many to consistently be aware of the happenstances in the marketplace?
Every entrepreneur must consistently experiment to produce the expected tangible results (objectives).
YOU MUST BE GOAL-ORIENTED: Life without a goal is frustration without knowing. In the same vein, any entrepreneur who has no goal is a goat heading to the slaughter. Goals are likened to targets. Until you have a target, you become a target for failure and stagnation.
A goal moves you into action. It makes you get MAD (Motivated, Aggressive, and Determined) in accomplishing a purpose. Until you are mad, you cannot be made; after all, the first three (3) letters of the word, “Made” is “Mad”.
A life without a goal makes you a goat. A life without target makes you the target. Imagine a football match where there is no goal-post, when will the match end? Imagine a race without a targeted ending point, how do you determine the winner?
The problem with most people is that they know how to be rich, but, the extent of their richness is never anticipated. For some, “As long as I can eat, pay my children’s school fees, pay rent,…I am okay!”. That is poverty in disguise.
Be determined. Know what you actually wanted. Think BIG. And soonest, you shall be a wonder to your world. God is a God of wonders (Exodus 15:11).
This year, what is your financial goal? How much precisely do you hope to achieve in the next year, five years from now, fifty years from now? Or, do you want to gamble through life just as you have gambled with last year thinking that God was unfaithful to you?
If you already have a financial goal, how do you hope to achieve it? What are the definite and concrete practical steps you hope to take to accomplish your financial goal? What marketing strategies do you hope to achieve? How many employees do you hope to bring into the system (if you have any) to act as leverage to your success? Think about these!
YOU MUST HAVE THE CAPACITY TO ADAPT TO CHANGING CONDITIONS: Life without adaptation is retrogression without recourse. As a potential or real entrepreneur, you must have the ability to adapt no matter what happens. The only constant factor we have on earth today is change. Thus, things must sometimes look funny.
But no matter the toughness of the entrepreneurship environment, keep going. Do not stop. The weather will soon change to good. Giving up in the fight is giving in to poverty without thinking twice. You do not need to stop that vision. Just take one more radical Supernatural step and everything will change.
YOU MUST HAVE THE ABILITY TO ORGANIZE MEN, MATERIAL, MONEY, AND MACHINES TO ACHIEVE GOALS: Organization is a manifestation in disguise. Those who know how to organize things are the ones who manifest power in life to the shame of the devil and his cohorts.
A prospective entrepreneur must consistently organize the 4 M’s of Entrepreneurship (Men, Materials, Money, and Machines). He/she must know how to take care of his/her staff, but the materials for production or services together, raise money, finance projects, and ensure that the production process does not breakdown before the end of the project. This will help the entrepreneurship system a lot.
YOU MUST BE PROFIT-ORIENTED: Entrepreneurship without profit is bankruptcy without thinking. Profit might not be the utmost purpose of any venture but it is one of the major factors that sustain any entrepreneurship. You cannot go far in entrepreneurship without profit.
Profit-making is a prerequisite for the maximum satisfaction of customers. Though profits are not just measured in monetary terms like in NGO’s (Non-Governmental Organizations), churches, and other related, they contribute majorly to the gross efficiency and effectiveness of any intending or real entrepreneur.
Even Christ was sown as a seed to reap the whole world (John 3:16): “For God so loved the world that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life”
We also read in Genesis chapter eight verses twenty-two: “While the earth remaineth, seedtime and harvest, cold and heat, and summer and winter, and day and night shall not cease”
So, for every action, there must be a reason. Thinking of establishing entrepreneurship without anticipating profits is thinking of stagnation and frustration in the said entrepreneurship without knowing.
Profits could be measured by the impact you made or the money you made. However, let not making money be the sole purpose of becoming an entrepreneur. That is a wrong motive! Money follows the impact.
Until you make an impact, you might not make a profit. Think of serving others first. Think of solving problems first. Think of changing the world first! Think of impacting nations first! That is what brings profiting in monetary terms later.
But, if your eyes are on how much you will make in the course of doing business, you may not get any dime. Or, you may accumulate money only to leave it for others to enjoy while you die prematurely. God forbid, it shall not be your portion in Jesus’ name!
YOU MUST POSSESS RISK-TAKING ABILITY: Risk is needed to make an impact in life. Any life without risk is life without results. Risk-less life is a risky life. It is even risky not to take risks in life.
Anytime in your life that it seems you are no more taking a risk, check your results, it may be that you are stagnated without knowing it. Thus, at that point, you must ask God to give you more risk to take. Risk is part of the makers of men.
If you want to be an entrepreneur, be ready to take the risk; don’t just be like the man whose story was narrated in the parable of the talents that Jesus narrated:
The master of the house is leaving for a long trip to a foreign country. He delegates the responsibility of managing his goods to three different servants. To the first, he gives five talents, to the second, he gives two talents, and to the third servant, he gives one talent. When the master returns, he brings the three servants before him to account for his treasure. The first proudly hands him back ten talents instead of five; he doubles the master’s money and the master is pleased. The second, likewise, produce four talents from the original two. The master is very pleased with both. But the third servant cowers and says, “I was afraid, and went and hid your talent in the ground. Look, there you have what is yours” the master gets annoyed.
The third servant takes no risk whatsoever and his talent yields no returns.
God took a risk in creating the world, if not, why did He regret in Chapter six of Genesis, precisely in verses five and six? Hear this:
And God saw that the wickedness of man was great in the earth and that every imagination of the thoughts of his heart was only evil continually.
And it repented the LORD that he had made man on earth, and it grieved him at his heart.
Entrepreneurship, just like every other affair of life, involves a lot of risks. That is why if you must venture into entrepreneurship, you must be ready to take the consistent risk that poses your way. If you avoid taking a risk in entrepreneurship, you will end up a nobody in your line of business.
However, Brian Tracy wrote a wonderful book titled, “Eat That Frog” which focuses on how to avoid procrastination and maximize impartation. If you have not read it, get a copy of it, and read it. It will impact you the grace for avoiding procrastination and taking unimaginable risks in life.
If you must succeed in entrepreneurship, you must dare the unimaginable and do the impossible to achieve the unthinkable among men. That is the key that generates tangible profits for the globally celebrated entrepreneurs like Bill Gates, John D., Rockefeller, and others.
YOU MUST HAVE THE ABILITY TO INNOVATE AND SPECULATE: Innovation is the mother of renovation. The walls of the buildings and structures have fallen. It is only innovation that can renovate them and give them a facelift.
Innovation gives you an edge in the entrepreneurship world. You cannot be innovative and end up a failure in entrepreneurship, except you are not disciplined.
Innovative people are highly creative. They do things other entrepreneurs never imagined or thought of.
They are practical and realistic solution providers. They solve the world’s hydra-headed problems.
They determine the pace at which the world grows.
Remove innovators from the face of the world and the world will be stagnated and stinking.
Just as every stagnant river stinks, so is a nation that lacks innovators. They add value to the gross growth of the nations of the world.
For you to be an entrepreneur, you must be an innovator. You must be ready to innovate things and in the end, make an impact on the earth. No entrepreneurship can survive without innovation.
Thus, an intending entrepreneur must have the ability to innovate and anticipate trends. This will add value to the vision and corporate objective and give him/her an edge in the marketplace; thereby generating untold profits to him/her.
Added to these, you must have enough ideas on how to market and distribute your products because a good or service created, without reaching the final consumers or users, makes no sense.
You must also know how to monitor your competitors and their product movements. You must have sound public relations ability. You must also learn to accept responsibility for any failure. Thus, you must not blame others for your entrepreneurship failures.
However, for you to be an entrepreneur, you must know how to identify entrepreneurship opportunities, mobilize, and organize the resources to tap the opportunities.
You must also be careful in implementing your plans to achieve success in your entrepreneurship endeavors.
In addition to these attributes, you must possess sound judgment, foresight, being purposeful, and morally sound abilities; otherwise, you will make money to your own detriment.
Therefore, use these factors to access yourself and your prospective entrepreneurship:
ABILITY AND EXPERIENCE REQUIRED: Do you have the experience required for entrepreneurship? Do you have the ability/ can you make it? All these and many other related questions you will ask yourself before going into entrepreneurship.
EXTENT OF GOVERNMENT REGULATION: Is the government’s “eye” always in the business? What are the laws established by the government or any other statutory board, for or against that type of business? To what extent does the government regulate it?
EXPANSION POSSIBILITIES: Does the potential business have any room for expansion? How long will it take to expand more? These and other related questions should be considered before one goes into business.
EASE OR DIFFICULTIES OF THE POTENTIAL ENTREPRENEURSHIP: Is the potential business easy or difficult to establish and manage/ How easy or difficult is it? If difficult, how can one handle the difficulty?
CAPITAL REQUIREMENT: The amount of capital needed for the kind of business you want to venture into must be considered. How much do you have? How much does the business require? Can you raise the capital? If not, how do you hope to achieve this target?
However, every breakthrough in life is a function of acquired and practiced information. You cannot breakthrough through entrepreneurship until you access the requisite light needed for your manifestation.
But, what kind of information do you need to start a business? What questions do you need to answer before stepping out to set up a business entity?
HOW CAN YOU MAKE MONEY IN YOUR BUSINESS?
Do you have a business idea you got based on the people’s challenges and problems? What is the scope of the value you wish to add to life vis-à-vis the problem/challenge in order to solve it? Have you conducted a feasibility and viability test? Have you registered a business name or a private limited liability company of your own in relation to solving that challenge? Have you done all the paper works observing and considering your business system What Business/Management skills and techniques do you have and what proportion of skill/techniques do you hope to employ?
NOTE THESE FACTORS IF YOU MUST BE AN ENTREPRENEUR AND MAKE MONEY IN YOUR BUSINESS…
- Discover yourself
- Dream big
- Be financially intelligent
- Be unique
- Have a business coach
- Focus and be known for one thing
- Have a personal value
- Be failure-proof
- Be able to assume and take risk
- Have a competitive edge
- Be a fast mover
- Be creative
- Be able to work with others
- Be passionate about your purpose
- Commit all your resources to the business
- Seek to satisfy your customers steady
- Take responsibility for your results
- Make seemingly complex assignments look simple by splitting the work.
- Focus on money-making activities and delegate the other task to others
- Collect and collate customers feedback and use the feedback to make better decisions
- Be an effective time manager
- Always be grateful to God, yourself and your clients/customers
However, time will no longer permit me to finish up this blog post series, I suggest you DOWNLOAD my suggested books and quickly learn how to generate money-making ideas for your business.
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Ideas are the real wealth of life. Those who lack ideas end up as nobodies on earth. Money is not the cure to poverty; transformative ideas and consequent application of these ideas beneficially are the real cure to poverty.
Without ideas, there will be no business. Lack of ideas means “No business”.
Andrew Carnegie supported this statement when he posited that all achievements, all earned riches, have their beginning in an idea.
See you in my next article!
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To Your Success,
(A Google Certified Digital Marketer, Author, Publisher, Blogger, Trainer, and Mentor),
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The Next Thing
Though I still have a lot to write on this topic I hope you learned something new from this blog post. More importantly, I want you to apply practically all I have been able to reach you via this blog post.
Right now, I want to know what you think.
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