I attempted to bring about a new light on what entrepreneurship is all about in my previous post and how important it is to achieve this state of mind called entrepreneurship. Â I literarily debunked the old thinking that entrepreneurship translates to being self-employed or any other form of career that frees you from the 9-6 regular job. Entrepreneurship is simply a state of mind where economic opportunities are recognized and seized.
Â
Â
Let’s assume you have a full time employment with a bank and through your experience as an account officer, you discovered some loop holes amongst importers seeking for facility to procure goods. You realized that most of them have good business plan but do not know how to present a good business plan to the bank; this deficiency prevents the importers from getting the support of the bank.
Â
Â
You immediately saw this as an opportunity and decided to help one of the semi-illiterate importers to construct an effective business plan free of charge. The importer got the facility and was so glad that he gave you 20K Naira to thank you; he knew the business plan you wrote for him did the trick because he has been turned down so many times by different banks. He used the business plan you wrote for other banks and the result was positive.
Â
Â
You started getting calls from other importers asking you to write business plan for them since you were bothered about the way the bank may feel about this. You asked most of them to meet you at home over the weekend and to prevent the traffic of callers, you charged them 50K Naira for each business plan. You were shocked that despite the increased charges, the traffic increased.
Â
Â
You decided to open an office and employ a secretary that will collect all the work from the importers to avoid them coming to your house. After some point, you realized that the money you get from this personal runs of yours was 3 times your salary. You also know instinctively that you could do more if you quit your appointment with the bank so you gave yourself a deadline of one year to see the way the business goes.
Â
Â
You got a lot of complain from the importers because you were not around; some of the business plan did not reflect their businesses and they needed some coaching in what you have written. You knew that if the business was to continue successfully, you have to resign from the bank but something keeps holding you back; you got promoted by the bank and you were issued an official car.
Â
Â
Then you started to do a thorough analysis of the situation;
Â
As an employee:
1.     INPUT (Do what you’re asked to do.)
2.     OUTPUT (You get a paycheck.)
As an entrepreneur:
1.     INPUT (You follow your dream.)
2.     UNCERTAINTY
3.     OUTPUT (You get paid.)
   Â
Â
 Explanation of the analysis
As an employee:
Â
1.     Do what you’re asked to do.
2.     Get paid N1, 500,000/year guaranteed.
Â
Â
Or be an Entrepreneur and get this:
1.     Figure out what you need to do and do it.
2.     Uncertainty whether it will work.
3.     You get paid in the following ways:
a) If it doesn’t work, you either make zero naira, or you lose money and perhaps even bankrupt the business.Â
b) If it works out poorly, you may make N500, 000/year.Â
c) If it works out average, you may make N700, 000/year.Â
d) If it works out nicely you might make N2, 000,000/year.Â
e) If it really works out of you, you may make N2, 00,000 per MONTH or more.
Â
Â
 After the analysis, you realized that you have found what you want to do but you are uncertain if it will work out. Despite the fact that it is working now, you are uncertain that traffic will be maintained if you leave your job. It is this uncertainty that is the burden of every entrepreneur. This uncertainty troubles you when you eventually give up your job.
Â
Â
 As an employee, you were an entrepreneur; when you leave paid employment, you are still an entrepreneur. The only difference is that you discovered an opportunity when you were employed; the opportunity to make more money by being on your own. If you do not seize this opportunity, you have definitely violated the employee rule of seizing opportunities.
Â
Â
Ask yourself this question: Why are you an employee? It is the belief that you have a regular salary every month. It’s not that you make a lot of money from being an employee but that you have a “false certainty†that you will get a regular pay. This is the reason why those who have the calling to leave the employment regime stick to it. They want a sense of security that they get paid every month.
Â
Â
This is the burden of entrepreneurship; the uncertainty of getting regularly paid or the uncertainty that the project will be economically viable. If you take a deep look at the employee regime; every employee is working for an entrepreneur of group of entrepreneurs who are quite uncertain of every project they venture in. The entrepreneurs are so comfortable with the uncertainty that they bear the burden to make employees certain of their salary every month.
Â
Â
The whole concept of the Christian faith is based on being comfortable with uncertainty; faith is hence the confidence assurance that something we want is going to happen. Every true entrepreneur embodies the Christian virtue of faith; they are certain that what they hope for is waiting for them even if they cannot see it up ahead. Even if the outcome of the project is not economically viable, they are approved to be entrepreneurs because they will eventually learn from their mistakes and share with the next generations so the project can be perfected.
Â
Â
The sons of God are thus entrepreneurs; they are comfortable with uncertainty. They are convicted of their reality; they know that the future is sure. They do not depend on human hands; they know they are first spirit being before human being so the concept of what they do not see does not affect them. They believe in that call that prompts them and urges them to go on to a world of uncertainty. Entrepreneurs know their God so they do exploit. Entrepreneurs shape the world!
Listen to this podcast
Loading ...
12 comments
1 ping
September 1, 2008 at 11:20 am (UTC 1)
Terrific analysis and so true, i left paid employment last year to take care of my children and to give myself the needed break to think and move on with my life!ended up partnering with a friend and we went out there to get some jobs, initially there was nothing to do cos what we were selling was ideas-event management for companies but gradually we started getting jobs and the money started coming in gradually, yes there are times when we dont have monies for fuel but thank God for husbands in paid employment and above all thank God for God..but if the truth be told even with a salary, the money was gone after the first week so it still did not make sense being in paid employment, now i have my time and sanity and also avoided literarily killing some of my colleagues if i had remained in paid employment!she laughs! Really its a Faith walk as an enterpreneur and i believe its God’s idea but if the truth be told not everyone can be one, so know your type of person and stick to it.We will succeed in Jesus name amen
September 1, 2008 at 12:00 pm (UTC 1)
Entrepreneurship is indeed faith based.
I remember placing order for some Jewelries from the US for resale in here in Nigeria. Prior to sending the money—a lot of thoughts passed through my mind—what if i didn’t get the goods and all that, because it’s my first time and secondly i have done my due-diligence, i was still restless, the thought of loosing my money dominated my mind.
Eventually i received it and my fear stopped. It’s a wonderful experience i must say. Right now i much wiser and confident though i still make sure i know more about the foreign company am dealing with before taking any step.
Entrepreneurship is good for people who have the appetite for risk taking. It’s like passing a bridge and setting it on fire not bothering how you’ll get back.
Finally entrepreneurship should have a Spiritual Focus (Meeting people’s needs/Making life better for people etc) and a Business Focus ( continous cashflow in the positive to keep the biz going) for it to really outlive the entrepreneur.
Many Thanks
September 1, 2008 at 12:55 pm (UTC 1)
thanks dipo can’t add anymore.
the second part is well worth the wait.
any part 3?
balogun
September 1, 2008 at 3:50 pm (UTC 1)
Nice one Dipo.
Really love this definition “Entrepreneurship is simply a state of mind where economic opportunities are recognized and seized”. With this definition and the xplanation you offered, you may have librated a lot of minds. I know what am talking about from a personnal perspective cos there are so many of such opportunities coming our ways daily.
I am working on a feasibilit study/report for a guy who said he wants to go into the same business our company is into though, he is yet to make payment. How did it start, a friend brought him to our office to have an oral breifing on what obtains in the business without any intent from my end to bill him for this. So i set the stage for him to ask for a feasibility report .
Recently a guy contacted me to stand in as a production manager for a pure water producer seeking NAFDAC’s approval. We are still negotiating it. This is the second offer in this regard, the first from another producer didn’t go through though.
Like I said in one of my previous comments, knowing when to divorce the marriage between paid employment and personnal purstuits is very vital to the success of the adventure.
@Biddy,
spot on on this: “…not everyone can be one (an entrepreneur), so know your type of person and stick to it”. A wise counsel
Luv u all
September 2, 2008 at 10:10 am (UTC 1)
Good analysis Dipo. I like the way you married Faith and secularity together.
September 2, 2008 at 11:40 am (UTC 1)
Thanks for the brilliant entrepreneurship idea. Your ‘re doing a good job. As a fresh graduate ,studied psychology, interested entrepreneurship especially in the area of import & export clearing, how do i started as a novice. I wish to have ur reply
September 2, 2008 at 4:47 pm (UTC 1)
Thanks Dipo; for another thoughtful write up. I wonder, “when will I make the leap to entrepreneurship?”
September 4, 2008 at 6:20 pm (UTC 1)
well said,dipo!can’t agree with you more.
September 7, 2008 at 3:34 pm (UTC 1)
@ charles
it isnt the mountain that we conquer but oursleves..if u’ve got the entrepreneurship streak in you then make the bold leap.you sholuld know that anyone can be an entrepreneur but not everyone eould become one.either in the career world or business,you are in business.any employee in any organization is making the organization or company richer richer by exchanging his skills for money(salary).so what is the difference between the man who owns a bank and employs people to work for him in exchange for a fraction of what he makes and the employee in that bank?the difference is that that one recognized an opportunity and went all out for it not minding whatever results he may get(he may fail but doesnt give up) while the other is afraid to take a leap in dark(its light actually cos knowledge enlightens).everyone knows what they ought to do but just do not do it.ts all a state of the mind.
dare yourself brother!
September 15, 2008 at 6:09 pm (UTC 1)
@Emeka,
Thanks for your comment and encouragement. I “know” I’ve got the entrepreneurial streak in me, though I see myself as an intrapreneur presently. I should know, bcos I’m at my 7th job in 10 years, mostly with multinationals and a few indigenious groups. I’m restless and relentless, looking for the next challenge and beleive me, its gotten bigger and bigger in every respect. Putting those same traits to mind my own business is another kettle of fish altogether. I guess I’m waiting for something to give instead of making it give……Beats me!
September 24, 2008 at 7:47 am (UTC 1)
This just aptly describes my experience, I work full time foir a peanuts, i got a skill that USED to earn me about 10X my monthly income rather than quit and face it well i thought i could combine that with my job and the result i could not satisfiy clients and today i am just starting to rebuild this idea, but this time my mind is made to get off once i have an appreciable level of clientelle.
Let me say we all have the entrpreneural streak in us but its the confidence (FAITH) level that will allow us move in the direction of our skill that varies
September 24, 2008 at 7:52 am (UTC 1)
This just aptly describes my experience, I work full time foir a peanuts, i got a skill that USED to earn me about 10X my monthly income rather than quit and face it well i thought i could combine that with my job and the result i could not satisfiy clients and today i am just starting to rebuild this idea, but this time my mind is made to get off once i have an appreciable level of clientelle.
Let me say we all have the entrpreneural streak in us but its the confidence (FAITH) level that will allow us move in the direction of our skill that varies. Its also mimportant to know that our upbringing matters a lot also e.g a situation where as a parents we indoctrinate a child with words like go to school, graduate and get ajob is not the best at all. As a parents let us guide ourchildren in the direction of thier passions.
http://www.catfishfarminginnigeria.blogspot.com/
An Uncertain World: Dipo Tepede.POeT says:
January 13, 2009 at 6:35 pm (UTC 1)
[...] the city. Uncertainty is the reason for minimal traffic to this all important path. You may read Burden of Entrepreneurship to understand [...]