As an entrepreneur, making mistakes is part of the journey. It is a known fact that some of the world’s most successful businessmen and women have, at some point, gotten it wrong. So, mistakes are very normal. But then again, certain mistakes can also be avoided. After all, that is why some successful people often take the initiative to document their experiences so we can learn where they got it right and what they did to correct their mistakes.
In line with our mission to educate aspiring entrepreneurs across Africa, we asked the Founder and CEO of Bellafricanna, Bukky Aseinde, to discuss some of the mistakes entrepreneurs can avoid in the course of their entrepreneurial journeys. Mrs Aseinde is the right person to discuss this subject matter because, not only is she an experienced entrepreneur herself, her platform works with thousands of of other entrepreneurs across Nigeria and beyond. Below are the nuggets she shared.
Mistakes to Avoid as an Entrepreneur
Not Starting with what you have, who you know, where you are: One of the hardest things in business is to actually start. When considering a lot of things, the fear of the unknown can set in. But you must never let that deter you from starting, especially when you believe in the feasibility of your business plan.
Not Building your Knowledge: Learning must always be a constant thing; successful entrepreneurs never stop building knowledge. Continually striving to gain more experience and build more knowledge will make you successful. Learn everything about your line of business and the laws obtainable in the country where your business is located; including tax laws, environmental laws, etc.
Not Focusing: Don’t do too many things at the same time. So many budding entrepreneurs try to do so many things at the same time and this cripples them. It’s important to focus.
Not Being Consistent: Don’t be in a rush to “make it”. As the saying goes, the journey of a thousand miles starts with one step. Being consistent gives room for growth and helps you to the achieve the end goal which is success.
Not Surrounding yourself with wise and positive People: This is so vital, especially when you know your personality type. I am an extrovert and a positive person, so having negative people around me was a no no. This I know has certainly helped my journey. Another key one is surrounding yourself with wise people, as the bible says also “He that walketh with wise men shall be wise: but a companion of fools shall be destroyed”.
Not Getting Mentors: It’s important to have mentors who key into the vision of what you do and are thought leaders in their various sectors not necessarily celebrities. How? (you might ask) by keeping a relationship with them and striking a mutually beneficial balance of what they do, they will give you more than their time when you show you care.