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REALITIES OF BEING AN ENTREPRENEUR – A. HASSANAH

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Realities of an entrepreneur

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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Labour Force

Maritime Workers Union Threatens to Embark On Strike Action

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maritime worker union

Maritime Workers Union Threatens to Embark On Strike Action

The Maritime Workers Union of Nigeria has identified four shipping companies responsible for the gridlock caused by heavy duty trucks on Oshodi-Apapa expressway.

The union specifically accused the companies of deliberately keeping their trucks and their containers as means of attracting demurrage payment daily from their already overburdened members, truck owners and their drivers.

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A statement on Sunday evening by the President-General of the Union, Adewale Adeyanju, the union issued a 21-day ultimatum to the Federal government and Lagos state government within which they should call the companies to order.

The Union threatened to embark on industrial action to protect its members, should the government fail to address their demands.

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Labour Force

Buhari Commissions Itakpe-Ajaokuta-Warri Rail Line

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Buhari Commissions Itakpe-Ajaokuta-Warri Rail Line

President Muhammadu Buhari has commissioned the 326-kilometre Itakpe-Ajaokuta-Warri rail line and Railway Ancillary Facility Yard at Goodluck Jonathan Railway Complex, in Owa-Oyibu, Ika North East Local Government Area, Delta State.

President Buhari  In a virtual inauguration of the rail line On Tuesday, directed the Federal Ministry of Transportation to link all the nation’s seaports of origin and destination to the rail network in order to significantly improve the nation’s overall transportation capacities.

He added that his administration recognizes the importance of the railway mode of transportation as a an important support for industrialization and economic development.

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“I have approved the prioritization of viable railway routes for either new rail lines or the reconstruction and rehabilitation of some, to achieve effective and efficient train services supporting the country’s trade and commerce.

“The railway infrastructure that I have the honour to commission today is the rail line from Itakpe via the steel town complex of Ajaokuta to Warri, and it is an important link for the country’s economy as the central rail line.

“We have also approved linking this line further from Itakpe to Abuja, thereby connecting the Northern zones of the country and also extending southwards to link the Warri Ports,” Buhari said.

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Labour Force

NLC Gives FG 14 Day Ultimatum to Review Electricity and Petrol Price Hike

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The Nigeria Labour Congress (NLC), has given the Federal Government a 14-day ultimatum to reverse the recent hike in electricity tariff and fuel price.

The Nigeria Labour Congress (NLC), has given the Federal Government a 14-day ultimatum to reverse the recent hike in electricity tariff and fuel price.

The President of the Nigeria Labour congress, Ayuba Wabba, while addressing the press at the end of the body’s Central Working Committee (CWC) meeting on Wednesday in Abuja, noted that Nigerians were disappointed in the increment of both items by the government.

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Wabba said that the CWC meeting focused on the two challenges and solutions to them while assuring Nigerians that it would also mobilize its members, civil society allies and other social partners to try to resist the policies.

“We are surprised that at a time other countries across the world are giving palliatives to their citizens to cushion the effect of COVID-19, Nigerians are asked to pay more for fuel and electricity.

“In furtherance to this, the CWC also resolved to convene a meeting of the NEC in line with our constitution, on Sept. 22, 2020.

“This is to also give effect to the decision because the proposed action will commence on Monday, September 28, 2020 `if the issues are not addressed,’’ he said.

He added that the declining economic power was evident among many as the N30,000 minimum wage could is not sufficient for many workers and their families hence the ultimatum.

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"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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