When it comes to entrepreneurship, making mistakes is part of the journey. After all, some of the world’s most successful businessmen and women, at some point in their career, got it all wrong. So, mistakes are very normal. However, the truth is that certain mistakes can also be avoided by learning from other successful entrepreneurs who are nice enough to document their own mistakes and the lessons they learnt from said mistakes..
In line with our mission to educate and inspire African entrepreneurs, we recently asked the Founder and CEO of Bellafricanna, Bukky Aseinde, to tell some of the mistakes entrepreneurs can avoid. Note that Mrs Aseinde is the right person to discuss this subject matter because, not only is she an experienced entrepreneur herself, her startup works with thousands of of other entrepreneurs across Nigeria and beyond to foster business growth.
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.