IT’S NOT ABOUT IDEAS, IT’S ABOUT MAKING IDEAS HAPPEN

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The focus of this paper is on entrepreneurship which is an undisputable venture to reduce, if not eradicate poverty in the world. It identifies the uncommon qualities of successful entrepreneurs which are; creative, articulate, brilliant and productive. It further analyses the business plan of the author which comprises the summary of his to be business, its financing plan and profitability projection. In addition, it identifies the author’s SWOT analysis and finally concludes that it’s not about ideas but about impacting the necessary ideas into one’s plan to make it real.

1.0   INTRODUCTION

Many years ago, in a small town in United States, a doctor climbed his horse and rode to a chemist’s shop. He carried an old fashioned kettle, a wooden paddle and a sheet of paper on which was written the formula for a drink (to the chemist’s shop). Both of them began to bargain and eventually the chemist gave the doctor five hundred dollars for the items that he had come to sell. To the surprise of the chemist, the content of the kettle which has since become a household name in the world, began to pour forth gold. Somehow, the young chemist added something to the kettle, the paddle and the formula. That thing, I believe, is an idea. Today, the content of that kettle is the greatest consumer of sugar in the world and had turned the fortune of many men around. The name of this drink is Coca-Cola, and the name of the chemist is Asa Candler. This is a true life story which discloses the fact that “every technological breakthrough is built on the foundation of ideas”.

Ideas are simply thoughts, plans, or mental impressions on the mind which are more powerful than the brain that produce them. A renowned motivational writer, Sam Adeyemi, in his book Ideas Rule the World, said “the quality of ideas that flow through your mind determines the quality of your life”. According to him, successful people are not perfect people rather; they are brilliant, articulate, creative and productive. Their success is recorded in their determination to achieve their goal in life. This they do through various permutations and combinations to make their dream come true. They are very industrious; hardworking, optimistic and they never lose focus until their dream come true. Great achiever indeed!

1.1 Aim

The purport of this paper is that, man can move from failure to success or from lack to abundance if he impacts the required momentum into his ideas rather than to just envision it.

2.0   QUALITIES OF AN ENTREPRENEUR

You will certainly agree with me that, everybody desires to be successful in life. Isn’t it? Unfortunately, very few people endeavour to ascertain how to be successful. The truth is that entrepreneurship involves breaking the ice. This entails vision, cheerleading, enthusiasm, love, trust, verve, passion, obsession, consistency, always paying attention, creating heroes at all levels, coaching and effectively wondering around; though it’s a touch and go business. To make a clean breast, entrepreneurship is much more than one wielding enormous powers and exercising authority but entails, amongst others, ability to monitor, coach, inspire and motivate. Entrepreneurs are usually successful because they achieve uncommon. Research shows that successful entrepreneur possess the following qualities; skilful initiative, positive mental attitude, good leadership skill, well organized, decisive, accepts responsibility, preserves, very energetic, self-discipline,  non-procrastination, self-confidence, fearlessness and boldness. Ascertaining some of my uncommon qualities, wow! I’m almost there.

3.0   MY BUSINESS PLAN

To let the cat out of the bag, successful entrepreneur conceptualizes ideas and ensure its achievement through planning. Once an idea fails, it can no longer be an invention. To achieve success rather than failure, I’d prepared a systematic and well articulated business plan (as you can see below).

3.1 Executive summary

  • The project analyzed in the business plan is for the establishment of a fish farm which shall be known as success fish farm.
  • It shall supply table size fishes to; wholesalers, retailers and even individuals within and around the town and neighboring states to the farm location.
  • The farm shall take not less than two (2) to three (3) years to be fully established as dreamed and shall be located in Ilorin, Kwara state(Nigeria)
  • The total cost of the project shall be

Fixed capital                                       N 27,100.00

Working capital                                               N 207,500.00

Preliminary/Pre-operative Expenses       N15, 400.00

Sum Total                                        N250, 000.00

3.2 Financing Plan

—  Owner’s Equity                          N50,000.00

—  Term loan(WAP)                       N200,000.00

—  Total                                            N250,000.00

3.3 Profitability Projection

—  N500/kg with 2250kg realized                  N1,125,000.00

—  Less cost of sale                                  N457,900.00

—  Gross  profit                                         N 667,100.00

—  Income-tax                                           NIL

—  Net profit                                               N 667,100.00

—  Repayment                                           N 150,000.00

—  Retained profit                                                 N 299,600.00

4.0 MY SWOT ANALYSIS

The word SWOT is an acronym which must be indicated in any business proposal. SWOT analysis involves both the business internal and external environmental factors.  The meaning of this acronym is STRENGTH, WEAKNESS, OPPORTUNITY, and THREAT respectively. They occur in pair (that is, strength-weakness, opportunity-threat). The major strength of my proposal was the breakthrough I recorded towards setting up a small scale fish farm at home (as you can see in the picture below). Contrary to this was the music I faced, that is, finances (cost of feeding, maintenance, input, amongst others). The opportunity surrounding my enterprise is majorly from the Small-Median Enterprise(SMEDAN) schemes which were implemented to foster entrepreneurship by the Nigerian government (particularly among youth).on the contrary, the first class threat surrounding my business plan is the exorbitant interest which was calculated at 10% per annum.

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5.0 CONCLUSION

It’s true that, the supernatural realm is a world of possibilities. That is, where there is no vision, the people perish. In order for a man to achieve uncommon results in any business, vocation or career in life, he must be an adventurer, rather than being a risk-averse person. He need not wait till the clouds roll by before he put his idea to work otherwise, his dream will remain in a resting state as described in Isaac Newton’s first law of motion. To hit the nail on the head, Harry Browne said “you can’t change the fate of a nation but you can do a great deal to make sure you are not adversely affected by it’. That is, just play your role. Just kick start. Just do it!

 

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2 Comments

  1. Ridwan says:

    I’ very glad being the author of this article. I hereby call every to help me in sharing this article through all their available social media. With regards, Ridwan

  2. abiola says:

    I wish you emerge the winner

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