My no. 1 Entrepreneurship Strategy

This post is short, sweet and punchy. You'll need this if you want to start a side hustle or become a full-time entrepreneur.

Too many people feel that having a 9-5 job is the only option to acquire wealth. 

I am here to tell you that this is 100% false. 

With advancements in technology and social media, entrepreneurship seems to be winning the game.

Millions of people are finding new ways to make money by solving old problems better. 

But how do you know what to do to make that extra money? 

The challenge

It starts with your idea. What problem are you solving and who is willing to pay? Getting a good pain point to solve is where many entrepreneurs fail and often get discouraged.

The “big opportunity” isn’t always right for you

In an attempt to decide what problem to solve, many people often look for the biggest opportunities. Netflix is making millions of dollars so I can create my own video streaming business and earn a fraction of that. Or Mary sells shoes and makes hundreds of thousands of naira each month, so I too can sell shoes. 

This often leads to enthusiasts starting a business they know little about or have no interest in. They don’t have the network or resilience to push through the challenges. The result? A failed business. 

It is true that some business owners take on completely new challenges having identified an opportunity, but the success rate is dramatically low. 

Same energy, better results

Is there a better way? 

Yes, absolutely!

The proven strategy to get a great business idea is to provide services or products you already offer. 

This means looking at what you are already good at and your current environment and offering products or services that come more naturally to you. 

Let’s look at a few examples -

If you are a doctor, offer consultancy services to busy professionals.

If you are a product manager, create content about getting a product manager job, or thriving in a new industry. 

If you recently moved to a new country, solve the immigration-related problems other like you have gone through. 

If you are an experienced primary school teacher, offer a service for young parents to learn how to navigate learning for toddlers at home. 

…

The list is endless. 

If you follow this approach, the world of entrepreneurship is your oyster. You can expect up to 3x more sales and easy delivery because you know your work. As the saying goes - “you understand your assignment”. 

Although you will encounter challenges like every other business, you would be in a better position to solve the problems compared to another business owner with no experience or previous contact with that target group. 

Try this better approach if you want to start a side hustle or become a full-time entrepreneur. Any questions? Let’s chat in the comment section.