An entrepreneur is someone who creates or starts a new business, the individual bears most the risk and also enjoys most of the reward that comes with the business. Let us discuss entrepreneurship types and characteristics of successful entrepreneur.
Entrepreneurs are individuals that create solutions to problem in a society. When they see challenges, they do not complain instead they look for a solution, so you can also say that entrepreneurs are solution providers.
They are also important to the economy of every nation because their businesses provide jobs for others and their profit also make up for economic growth.
Being an entrepreneur has high risk because when they fail, there is no one to fall back on. Entrepreneurs go through a lot of stress, pain and challenges at the initial stage of the business that people cannot see. Most people only see their success and envy them but they do not know the story behind their success.
A franchise is a type of business in which the owner accepts a license or a franchise fee in order to allow other individuals use business resources such as product, branding and operational knowledge.
The business that grants a license to other individuals is called a franchisor while the Individuals or businesses that pays for the license are called franchisee.
In this type of business model, the franchisee is meant to pay royalties to the franchisor from time to time and this depends on the agreement between both parties.
The franchisee is also meant to get the operation principles of the business so that he can get an optimum result like that of the business owner.
The first time I heard about franchise business was when one of my uncles was succeeding in business and everyone admired him in the family.
Every country has its own business opportunity and it’s also
the same in Nigeria. There are profitable businesses that you can do in
Nigeria, don’t let anyone deceive you that people are not making money in Nigeria.
People are making profit from their businesses and all you need to do is look
around you to spot opportunities in your environment.
I believe that you can actually succeed in any business that you do but
different effort is needed for each business because you might need to invest
more money before you can make profit in some businesses.
I will be showing you some businesses which I believe which you can
start with low investment and still make profit in short period of time.
A lot of people are having the thought of starting a business while working but they are scared of taking the bold steps for many reasons.
Well, you may be
wondering if starting business as an employee is doable, then you should dive
in to find out what I think.
You might be thinking
that it is not the right direction but the truth is that it is the right
direction because we all have the ability to do business but if you do not make
use of that ability you will never know it’s in you.
Some people might be
scared of failing and that is their reason for avoiding going into business but
the truth is that you might also succeed also if you try, I mean only if you
try. Do not look at the negative side of doing business instead you should
focus on the positive possibilities a business can offers you.