Ogitech Chat Room (OCR) where virtually all alumni and other students of the school can be found complements fun with learning as students are being assigned any topic of interest to educate the loop.
However, one of the group admin felt entrepreneurship should be encouraged among students in the school so assigned such to be presented by two members of the group Afolabi and Julia
julia therefore began by typing; Entrepreneurship is more than just starting a business.It is a mindset, a way of thinking and acting.
Entrepreneurship in these modern age involves thinking of new ways to solve problems and create values. An entrepreneur spirit is said to be characterized by innovation and risk taking.
Afolabi added; Entrepreneur nurtured personal growth and development
Moreover, it creates opportunity, instills confidence, ensures social justice and stimulates the economy. Entrepreneurshipeducation also provides budding entrepreneurs with the skills and knowledge to come up with business ideas and develop their own ventures
And this includes helping them to learn about core business areas such as finance, sales, marketing, management and accounting, not to mention, broader ranging skills such as adaptability, effective communication, and confidence.
Studying entrepreneurship benefits students and learners from different social and economic backgrounds because it teaches people to cultivate unique skills and think outside the box. Also provides budding entrepreneurs with the skills and knowledge to come up with business ideas and develop their own ventures. And this includes helping them to learn about core business areas such as finance, sales, marketing, management and accounting, not to mention, broader ranging skills such as adaptability, effective communication, and confidence. Yes
Another important lesson that entrepreneurship programs teach students is that risk is something natural, something that we have to live with, and something that has to be managed. There is no other school program that teaches this.
In fact, if we are being honest, most of us have been thought throughout our education that we need to stay away from the risks and that certainty is the best path to take. In the world of business, risk is a common occurrence. And to be able to succeed in it, you have to work on your character traits – risk-taking and persistence. An entrepreneurship program fosters these character traits. This is why it’s beneficial for students when they find themselves in a real-life situation.
Mind you, there used to be an Entrepreneurship club in the school – A club responsible for the encouragement of student entrepreneurship. Though, nothing had been heard from the club lately, but our Amebo team finds out that the club is up to something big very soon – WATCH OUT!
Considering the fact that this is a topic developed to proffer a solution; the two therefore highlighted some problems of Nigerian entrepreneurs, benefits of entrepreneurship, problems faced by undergraduates and solution thereof.
Major problems of Nigerian entrepreneurs
- Lack of capital
- Difficulty in securing loans from financial institutions
- Poor state of infrastructure in Nigeria
- Unstable state of Nigerian economy
- Inconsistent government policies
- Poor knowledge on how to run a business
- Inadequate planning and poor execution
- Lack of patience and greediness
- High risk involved in starting a new business
- Lack of entrepreneurial mindset.
Now, let’s look at the 7 benefits of entrepreneurship ;
- You have the golden opportunity to set your own schedule and work at your own pace.
- You believe in what you do.
- You work place can vary.
- You are the boss and you have the highest degree of control on your business
- You get to see your work Change lives. E.g, I sell wigs and weaves… Ladies buy from me and look more beautiful and attractive
- You become a business leader.
- That rush of excitement will always be within you because you are doing something that’s earning you money.
Julia in her presentation said; “We have dealt with the major problems of Nigerian entrepreneurs.”
“Moving forward we are going to streamline it to problems undergraduates face in entrepreneurship.”
5 major problems undergraduates face in entrepreneurship are;
- Intellectual property
- Perfecting the product/skills
- Balancing school with business ventures
- Finding the right business partners
- Getting funds
Like we all know, To every action there’s always equal and opposite reaction! (Newton 3rd law motion)
9 ways to overcome obstacles as an undergraduate venturing into entrepreneurship.
- Move with positive thinkers.
- Don’t give up, keep trying.
- Change your thoughts and meditate on positive things
- Change your perception towards entrepreneurship
- Never over work yourself… Work smart
- Think BIG
anything is possible
Any undergraduate that wants to venture into entrepreneurship should take note of the following;
- Take advantage of your school’s entrepreneurship center
- Put yourself out there
- Intern at a startup
- Learn how customers think
- Do something entrepreneurial, even on a small scale.
Thank you so much! Gracias! Merci!