The International Export guru and member of the Nigeria/Vietnam business Associates Mr.Sunday Anjorin the CEO of SunyProfit International Limited, addressing the public on Youth Empowerment yesterday at a gathering of Young Entrepreneurs and those who are looking for tips on how to unlock the secret to a successful business in Nigeria. In this article, 8 secrets for business success are given by Sunday Anjorin during his teaching.
These secrets are built, based on his personal wealth of experience in the business environment locally and international.
Imagination is the key to your business success. You perceive, conceive and believe based on more than what you alone can see, hear, taste, touch and smell, and primarily on what you can imagine. The impossible becomes possible. The unexpected happens. The explainable occurs and all you can do is shrug, and say to your partners.
Your business success is the culmination of how you think about it, partner with others to think about it, and then collectively imagine outcomes that seem unrealistic at the moment, but are achievable as all of you believe.
There’s a power behind imagination. Every entrepreneur must be able to think about things that are non existent and bring them into manifestation.
2. Planning and Timing
Planning is very important to every venture. It is more important to the entrepreneur’s venture because of the uncertainty of success and less room to make mistake.
With good planning, it is very easy to know how many activities have been completed and how many are remaining. It goes one step ahead to determine if there is any critical activity that needs to be attended immediately. Thus it provides a good picture of where we are currently vs where we planned to be.
Planning is important in business. And while planning, an entrepreneur must be someone who plans with time- following market trends closely.
One of the most common reasons for entrepreneur failure and business closure is the lack of determination and persistence.
Those who are not determined to persevere until success tend to jump from one idea to another when encountering difficulties. If you don’t try to overcome the difficulties and deal with them, none of your ideas will get the chance to mature into something successful.
In contrast, successful entrepreneurs talk about the difficulties and the ways of dealing with them – sometimes in very creative ways.
Entrepreneurs need the skills to spread a message, win over investors and increase their sales. Do your due diligence in learning how the business works.
Don’t be afraid to gather experience along the way as well. Just because your big vision is to own your own business, it doesn’t mean that you can’t benefit from the value of learning from an already established brand. Take on an internship or work full-time for a successful company within your industry while you pursue your passion on the side.
In whatever niché you find yourself, you must endeavour to dig deep in the knowledge banks at your disposal to know more and become an authority. This is what makes you free.
The committed entrepreneur may not be sitting behind a desk 24/7, but that doesn’t mean they’re not working. At the dinner table, in the shower or stuck in traffic, the committed entrepreneur is thinking about their business. These are the people who keep a notebook and a pen beside the bed so they can write down the ideas that wake them in the middle of the night. Of course, it also means that they are fiercely committed to protecting their business.
Even before the business was started, the entrepreneur was committed to the idea of it. Planning, making lists, doing research—these are the things that took up their time even before the company was launched.
An entrepreneur must set goals for his business. Whatever your goals are, you must be committed to those goals. Your commitment keeps you going when the going gets tough.
6. Investment Strategies
An entrepreneur must learn different types of investment strategies. As your business starts to grow, you must start looking for other investment opportunities.
Diversification is God’s structure for the earth. You must take the risk of diversifying your business, as not taking risk is riskier than taking risk itself. You can not be rich by doing a single thing.
Most entrepreneurs are prepared to give something up for the success of their company. It’s rare, however, that an individual understands exactly how much they’ll have to forfeit while growing their business.
One of the most effective ways to support a new business is to prepare yourself — and those around you — for which responsibilities will have to take the backseat.
You must be ready to make sacrifice in order to succeed. The natural order is that something must always go for something. you must be willing to sacrifice your time and also give preference to somethings that you need.