How to Raise the Capital You Need to Be an Entrepreneur As a Nigerian!
How to Raise the Capital You Need to Be an Entrepreneur As a Nigerian!
Many people try to depend on government-managed loan funds, government subsidies, government-funded business development centers and entrepreneurial curriculum in schools to raise the capital they need. But the truth is infusions of venture capital funding at both federal and state levels do not necessarily foster the wiliness to bear the risk of a new venture that has significant chance for money-making.
Entrepreneurship is the creation of new and better ways of doing business, which will destroy the established ways of doing business. So do not expect funds from those you are trying to keep out of business through your new combination of resources. Capital is more mobile than labor, and funding naturally flows to those areas where creative and potentially profitable ideas are being generated. It is important for you to estimate how much you need and then raise that amount to transform your dream into a reality. But what you need to start-up your business and take up the market is your ideas and not funding. Funding does not create new ideas; funding follows ideas.
It does not necessarily take a lot of cash to create a successful business. What you need is a good idea first and the good idea along side proper planning will raise the capital for you. While I was at the University studying Computer Science and Electrical/Electronics Engineering respectively. I knew I was not studying to graduate and work for someone else but to be in business for myself. Apart from IT training sessions I organized while in the University towards raising capital for my future business, I also ran my wears and perfume business, which I started with my feeding and pocket-money as a student.
At the time I graduated from the University of Calabar with my first degree in Computer Science, I was already in business for myself. This is proper planning and you can do it. During my National Youth Service, I also increased my financial state through my Community Development Service project, which I exclusively sponsored and achieved significant financial rewards when the power-personalities identified with my CDS project. This and other projects enabled me to raise the capital I needed to be an entrepreneur without going to anyone or government for funding.
In entrepreneurship, what you need to sail on and cruise beyond the waves of the sea of favorable occasions is moneymaking ideas. If you feel what is holding you back is capital, have a second sight and see beyond where you are right now. If you are ready to be an entrepreneur, estimate how much cash you need to cover expenses until the business begins to make a profit. I will give you just five ideas that will give you capital just enough to establish the business, invest in some inventory and create some advertising materials.
IDEA #1: Most pastors in the US and UK have personal and church websites. In this city alone, there are thousands of churches and they do not have website. You can write proposals to these ministries to at least set up a website for them to preach the gospel with ease, impact lives online and even sell their materials. This has already made a multi-millionaire. Even if you do not have a website development skill, you can employ the services of a website development company and make your money through discounts and commissions.
IDEA #2: If you look around, you will notice that most people wear branded T-Shirts that face or faces of people they do not know. Someone who is not in any way related to them. You can create T-shirt branding business that will enable every one to wear branded T-shirt that has his or her face on it. Every one loves to be celebrated, even the average person. You give them the service and they will pay you, as you get richer.
IDEA #3: In case you do not know, I will tell you. There are lots of great men and women in this town who has stories that will give you the money you need to start your business and be in business for yourself. Some of you do not know the history and cultural value of your village and heritage but those men in the village know. You can interview them and package a book that will not just attract a kingly launch but immortalize your name and family name.
IDEA #4: The government has introduced entrepreneurship as part of educational curriculum in the higher institution. You know as I do know that entrepreneurial intelligence is not about theories but practical exposure that is based on enough knowledge and experience; a perfect manifestation of critical thinking, executive intelligence and business principles. As an entrepreneur, you can organize a high-powered entrepreneurship conference, which students can pay to attend and get richer as you influence their lives to greatness. You can also package a compendium, which is made up of biographies of successful Nigerian Entrepreneurs in order to encourage entrepreneurship and live passively making money whenever the compendium sale.
IDEA #5: If you feel, you have been through lots of difficulties in life. Make your life-story a gospel and make it public; motivating many not to give up. Most motivational speakers tell their stories and get paid. Add innovation to your experience, continue the skills and make yourself a master of the real things. There is no different between you and the master of ceremony you know. Talk is cheap but youcam make so much money talking. Think about it and grow rich.
If you feel you can not do any of the ideas mentioned above. There is something you have that you can sell to develop new goods or services that the market demands and are not currently being supplied. About forty years ago, Steve Jobs and Steve Wozniak started Apple Computer by selling a Volkswagen micro-bus and a Hewlett-Packard scientific calculator to raise $1,300 - enough foe a makeshift production line. Today most of us use Apple I-Phones and I-Pads. John H. Johnson was one of America's most successful and wealthiest entrepreneurs.
Khalil Suleiman Halilu - Get inspired by the success stories of Nigerian &African entrepreneurs. Best polo player & social entrepreneurs.
