Converting a raw startup idea into reality is an enormous task. The onus is on you to ensure that the idea comes to a fruition notwithstanding the circumstances. This is perhaps why some Nigerians are scared to the bone about floating a startup. It is even more discouraging as Nigeria is currently experiencing a recession whose end is unknown.
Evidently, ideas will be abandoned due to these challenges.
Despite all these woes, it is essential for you to take action on your idea as you will be thrilled about running your own business and secure your financial future. Hence, Jumia Travel shares some ideas on how to convert your startup in this economic recession.
Believe in Yourself
A bit of motivation will really do you some good. You cannot do anything if you do not believe in yourself. Believe that when you take the risk of initiating an idea, it will work out. And if it doesn’t work, you will not give up and be able to accept the consequences of your actions.
Make risk your best friend
Not taking a risk is a risk itself. And the fact is, it is very risky to float a startup in Nigeria due to the recession. But, a risk is part of life. You have to take risk by venturing into the unknown. You work hard and be committed to your business. Don’t expect a smooth ride.
Be extremely patient
If you are impatient, it will be very challenging for you to move ahead with your idea. This is because any little hiccup will leave you distraught. You shouldn’t expect to invest today and start getting returns immediately.
Learn to sell your idea
Few people are willing to part with their money in this recession. Except your idea is sterling and you can ensure that other people fathom your vision, it will not be difficult to get investors. A major mistake that some budding entrepreneurs who have lofty ideas make are that they cannot sell their idea and how to achieve financial results.
Always improve the idea
Ideas are dynamic not static. So, you shouldn’t be laid back because you believe your idea is impregnable. But don’t be too confident. You should keep improving and expanding your ideas.
credit: Adeniyi Ogunfowoke