To be an entrepreneur is a call many have attested to and rightly so because of the enormous benefits society derives. Have you felt strongly that entrepreneurship is your calling too? You are not alone, but what differentiates success from failure for most entrepreneurs is heeding to wise reasoning as you embark on this lonely journey.
From the thoughts shared by the insightful membership of The Spirited Hub Facebook Community. Here are eight solid, not mincing words and factual advice contributed for you who wants advice as you aspire to become an entrepreneur.
1. Be Prepared to Embrace the Risks.
Life itself is a risk. Not taking a step a risk and doing so is riskier. This is not to scare you but expose you to the cold reality. You have taken the first risk which is making the bold decision to become an entrepreneur.
“Entrepreneurship is a risky venture but worth it… focus, and stay committed to your chosen venture and fall in love with what you do… challenges will definitely come but be tactical and play accordingly.” – @Ebenezer Essuman
2. Ponder on Why You are advised “Don’t Do It!”
“If you are able to find reasons why you think I should not tell you not to do it, then you my dear friend have found your own reasons why you should do it. I find that when people arrive at conclusions for themselves they do a better job at sticking to it.
Now, qualities, virtues and advices work for everyone differently. Some people breakthrough because they are patient and determined, others are very impatient and a minute spent on something is too long too much but that impatience drives them to try so many things and kaboom! one works and that’s their breakthrough.
People will focus on one thing, what if you are innately wired not to focus on one thing? I will tell you don’t go into entrepreneurship? If you feel offended and have the need to debate it then voila! you are already an entrepreneur because if there is one thing all successful entrepreneurs do, it is that they do not let anyone tell them they can’t or should not do anything.” – @Nora Delali Kumahor
So on your own you begin to ask yourself why you shouldn’t and if you truly want to be an entrepreneur, the fire in you won’t quench and will give you every reason back to answer you “I will do it and I’m prepared for all the challenges ahead.” – @Battseeyon Fynn
3. Failure is a Necessary Evil.
How many times have you failed at doing something? On the issue of failure, research and you will realize that for many achievements by successful entrepreneurs you celebrate today, repeated failures was an inevitable tool for success, so be prepared.
“Be prepared to fail many times. But it is not failure if you learn from that error and not repeat it. If you are not willing to fail and still go on, then don’t start.” – @Marricke Kofi Gane
4. Getting Mentorship is a Must.
Mentorship involves being guided and given right directions by experienced entrepreneurs who have long passed your stage of the journey.
“There is a huge difference between folks who have made it and those striving and doing their best possible. There is a secret, the former knows something that the latter doesn’t. I would advise, have a mentor and be humble in all circumstances to learn because experience is another way of teaching.” – @Ishmael Cudjoe
5. Pursue that Dream, Reward Will Come Later.
Your business idea did not come to you for nothing. Consider the number of people who will be direct beneficiaries if you bring that dream to reality. There are others who also have dreams just as yours, but you know how best it should be executed.
“I will encourage them to go ahead and follow their dreams. I agree because failure teaches you virtues such as patience and humility which makes you want to learn and grow (perseverance). I also think in the initial stages and perhaps throughout the entire life of that project/initiative, one should focus more on meeting the satisfactions/needs of that particular initiative and money/rewards will follow later.” – @Monica Tetteh
6. Solve a problem.
Successful entrepreneurs such as Elon Musk, Mo Ibrahim, Strive Masiyiwa, etc. are all considered great not for the fat bank accounts they control but for the services and products they developed which go to solve a specific problem society is facing. Money won’t come when customers don’t believe in the business.
“Is my idea trying to solve a problem in society? Passion is key.” – @Issah Adil
7. Don’t Start Without Market Research.
All businesses operate well in particular niches. Your product is not meant for all the 7 billion human beings on earth but for a specific market with peculiar behahiours. For a market where many have both failed and succeeded, you need to pull resources together for proper research into your market providing the basis for you to decide if it is worth pursuing or just a mirage.
“I will urge the fellow to research into the chosen field to know if there is a market.” – @Kingsley Gbeho
8. Answer the question, “How Will You Make Money?”.
Apart from the impact your business idea will make on the society, the essential ingredient of success and staying in business is your company having inward cash-flow. Furthermore, for your business idea to be attractive enough to potential investors, one question you should be prepared to find answer to is how you will make money or what is called having a Business Model. You are in business for profits and when it’s difficult finding answers to this question, you may regret you started.
After going through these pieces of advice and mentally prepared for the lonely journey. You are on your way to fulfillment.
Are there other pieces of advice you want to share with aspiring African entrepreneurs? Leave your comments.
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Ghanaian Twin Brothers Launch 0207 Def Jam Label to Champion British Music Culture
Universal Music UK has today announced the launch of 0207 Def Jam, a new frontline label and the UK home of the iconic Def Jam Recordings label, with a stellar cast of execs including the appointment of highly respected industry executives and Ghanaian London-born twin brothers, Alec and Alex Boateng as co-Presidents.
0207 Def Jam, which takes the first part of its name and inspiration from a telephone code in London as a nod to the music, culture and art the UK is famed for, is partnering with the legendary Def Jam label which has shaped and propelled cutting-edge hip hop culture around the world for over 35 years.
Alongside his brother, Alex takes the helm after 10 years at Universal Music UK, most recently as president of Island Records’ first Urban Division which has played an instrumental role in shaping the current and sustained trajectory of UK Black music. After taking the role in 2018 he oversaw UK campaigns for Drake, Tiwa Savage, Buju Banton, Nav, Giggs, Unknown T, Ray BLK, M Huncho, Tekno and Miraa May whilst also spearheading the campaigns for George The Poet’s debut book release, British film, The Intent 2 and UK based clothing brand/label Lizzy. Alex is a member of Universal Music’s Task Force for Meaningful Change, which was created as a driving force for inclusion and social justice. He joined Universal Music in 2010 in a digital role at Island Records before going on to hold positions in marketing and A&R, a period which included campaign launches for Tinchy Stryder, Drake, The Weeknd, Nicki Minaj as well as A&R for artists including JP Cooper, Sean Paul, Jessie J, Dizzee Rascal, Donae’o and Big Shaq. He started his music career balancing a marketing degree with DJing, multiple shifts at radio and running his own marketing and promotions company with his then BBC 1Xtra colleague G Money, moving on to consulting roles with Atlantic Records, Polydor and AATW.
Alec joins 0207 Def Jam after seven years at Warner Music, most recently as co-head of A&R at Atlantic, where he collected a clutch of industry awards and played a pivotal role in the commercial and cultural success of acts who have defined their era, including the emergence through to her chart-topping dominance of Jess Glynne, the revolutionary rise of Stormzy, Burna Boy’s rapid ascent to global superstar as well as the likes of WSTRN, Rita Ora, Kojo Funds, Stalk Ashley, Preditah and many more. A seasoned broadcaster, he also spent over a decade at BBC 1Xtra where he hosted the breakfast show for several years and a series of other specialist shows with a focus on breaking new British music. Alec remembers a passionate deep-rooted love of music as a child, evolving into DJing and leading the award-winning UK mixtape team Split Mics before halting university after he was headhunted to cut his teeth in A&R. First, he worked with Ministry of Sound and then began operating his own co-owned music company alongside the late industry lawyer Richard Antwi. Together, they oversaw a plethora of success with Wretch 32 and worked with artists such as Popcaan and Gyptian amongst many others.
Alex’s former Island colleague Amy Tettey will be joining the team as managing director after 11 years, the past four as finance director, at the Universal Music label where she worked across the entire roster of Island artists including everyone from Amy Winehouse to Drake and Dizzee Rascal to Giggs. Alongside Amy, Jacqueline Eyewe and Char Grant join as marketing director and A&R director respectively. Jacqueline – previously senior marketing manager at Atlantic where she spearheaded the marketing of Black music – has been deeply rooted in contemporary Black music and culture for the last decade. She joined Atlantic in 2015 where she has worked with artists including Stormzy, Burna Boy, Lizzo, WSTRN, Kehlani and Cardi B. Char, whose 10-year career has been immersed in artist development and management as well as songwriting, joins from BMG Music Publishing where she has published the likes of Giggs, Ghetts and producers P2J, TSB and AOD.
Alec and Alex report to Universal Music UK Chairman & CEO David Joseph. He says, “Bringing the Boateng brothers together at 0207 Def Jam is an important moment in British culture. Alec and Alex have always done things their own way with success always quick to follow. They have already assembled an exceptionally talented top team with a clear vision for this exciting new chapter in the history of one of the world’s most famous labels”.
Jeff Harleston, interim Chairman & CEO, Def Jam Recordings said, “It is a perfect fit having Alex and Alec at the helm of 0207 Def Jam. Their creativity, artist relationships, and connection with culture are all key elements that have made Def Jam such an important label for over 35 years. I have no doubt that Alex, Alec and their team will only make the label and the brand even stronger.”
Alec Boateng, co-President of 0207 Def Jam says, “Music, art and artists really, really matter. I’m super excited to play a leadership role in this brilliant new space we’re creating for amazing music and talent to live and evolve. A space which will support both our teams and our artists to be the best version of themselves.”
Alex Boateng, co-President of 0207 Def Jam says, “Especially in these times, this is a real privilege. I’m proud our collective journey now includes partnering a legendary label with a style that only London and the UK can provide. Looking forward to watching and guiding where the music and art takes the journey next.”
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