Labour Force
REALITIES OF BEING AN ENTREPRENEUR – A. HASSANAH
The risks, roadblocks, and psychological challenges are realities of being an entrepreneur and they are enough to deter even the most confident entrepreneur with the best product offering
“An entrepreneur is somebody that takes risk to start a business by sacrificing their salary to make money on their own and create jobs. (Bet-David on my Follow My Lead podcast).
Prosperity is not guaranteed even if they are confident in their decision to forge his or her own, uncharted path to successful business ownership
Being an entrepreneur isn’t the easy, carefree career path that many believe it to be; it’s actually quite the opposite. When time, money, passion and creativity is invested in your own business, it can be overwhelming.
If you think meeting a boss’s demands is tough, try meeting your own. This type of pressure would light a fire under even the calmest person.
Not only will you feel the pressure to get your business off the ground, but you’ll also feel the added pressure to do so quickly in order to regain some profit.
As an entrepreneur, the workload can be intense, especially during the early stages when you are the CEO, HR person, sales staff, marketing guru, tech guy/girl and manager.
With all these roles, there’s rarely a moment that you feel your work is “done” for the day.
There’s always something more you could be doing, like researching new markets, contacting new media, developing new products and the list goes on.
So with this kind of stress, pressure and workload and basically the challenges of an entrepreneur, why, then, would anyone subject themselves to being an entrepreneur? The answer is simple: the positives outweigh the negatives.
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It is rewarding. When you’re successful, you reap both financial and emotional rewards. There’s no better feeling than when you see a product you’ve worked hard to develop consumed by people. It is gratifying.
And of course, turning a profit and knowing your business is financially stable are extremely rewarding as well. But quick truth: If you are just starting out, your losses with outweigh your profits. It’s the chance to create. Entrepreneurs are driven by the need to build something great, help other people, or leave something behind.
No matter what the motivation, creating something from nothing that grows and develops through the years can be almost like raising a child; it’s your baby, and you’ve nurtured it to its current level of success.
That type of fulfillment is difficult to duplicate in most other career paths.
Looking at these realities of being an entrepreneur,it is obvious that building a company is not easy. But there are a few reasons -once you’re ready -that you should do it anyway.
Of course it’s not easy to take an idea and turn it into a reality. Particularly one that not only creates jobs, but also pays the bills and makes a positive impact on the world. The reality of the situation is that being an entrepreneur will test you in ways you didn’t think possible – but once you’re ready, pursue it anyway.
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Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.
The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja
She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.
The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.
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The Federal Government on Friday said it would not increase petrol price in June despite the recommendation by the Nigeria Governors Forum that the cost of the commodity is increased.
A committee set up by the Nigeria Governor’s Forum had on Wednesday recommended a petrol price of between N408.5/litre and N380/litre, and also called for immediate removal of petrol subsidy.
However, in a statement issued and signed by the Minister of State for Petroleum Resources, Chief Timipre Sylva, in Abuja on Friday, the government ruled out the possibility of a hike in petrol price any time soon.
The minister guaranteed Nigerians that the cost of the commodity would remain the same at between N162/litre and N165/litre.
Sylva said, “Once again it has become necessary to assure Nigerians that despite the huge burden of under-recovery, the Federal Government is not in a hurry to increase the price of Premium Motor Spirit (petrol) to reflect current market realities.
“The current price of petrol will be retained in the month of June until the ongoing engagement with organised labour is concluded.”
“This clarification becomes necessary in the light of recent reports regarding the resolution of the Nigeria Governors Forum to increase the pump price of petrol.” He added.
The minister stated that he would like to strongly urge petroleum products marketers, not to engage in any activity that could jeopardise the supply and distribution system in place.
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COVID-19: NMA Predicts Hike in Cases as a Result of NIN Registration
The National Identity Management Commission (NIMC) on Thursday said that there is no cause for panic regarding the two weeks deadline for deactivation of subscribers identity module (sim) cards that are not linked with users’ national identity number (NIN).
The Commission explained that adequate arrangements have been made to capture the data of 200 million Nigerians within the next five years.
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It added that the steps taken so far to ensure that all subscribers have NIN in their sim cards are meant to address the security challenges facing the country.
The Commission also said the telecommunications operators would be involved in the exercise.
The Spokesman of NIMC, Kayode Adegoke said that government has approved licensing of over 200 institutions to carry out “enrolment of Nigerians and legal residents into the national identity database on behalf of the national identity management commission.”
Adegoke said the initiative was aimed at addressing the bottlenecks associated with the capturing of citizens data by NIMC.
He added that the method would increase the enrolment centres from the current 1,000 to 10,000 across the country.
He said the NIMC is desirous of scaling up its assignment to regulatory functions after the completion of the exercise.
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