Rainoil Limited is one immensely successful entrepreneurial endeavour in present day Nigeria. Let's see what routes have worked well for the business and what route there are that we also can go through for our own success as well.
Route 1: Besides your "8 to 5" job what else can you do to gross at least the same amount as your monthly salary? Any endeavour that you can undertake that can generate your salary outside your place of work can as well take the place of that job.
Route 2: One parable of Warren Buffet: If you want to test how deep a river is, you don't go with your two legs in at once.
Route 3: Reasons people start their own business: they want to be their own boss; economy forces them to do something for themselves; they want to have their destiny in their own hands; they follow their passion.
Route 4: Very many people think that to go into business the first important thing you need is capital. No, it's first and foremost knowledge. Those who turn it the other way round learn the hard way. Lay your hand on what you understand.
Route 5: To get capital to start your business, first things first: be disciplined not to get into the practice of eating your fruit altogether with the seed. It's the seeds - what you save - that you plant to give you plenty of fruits in the future.
Route 6: People rarely give money to those who don't have.
Route 7: To remain the typical employee, money is all for a consumption. And when more comes, another consumption. For the business person money is for production, for a next project. And when that gets completed, another project.
Route 8: Typically, sell your business idea to your immediate family first - siblings, spouse, parents. A lack of support from the immediate family can mean a very long tough route to go.
Route 9: Business success is "step-by-step". You have one element contributing today: then you have two; by the time you have five, then ten, you find that the rate to regenerate the business gets faster.
Route 10: Any business you are doing, any location where you find your business, it's only a matter of time: competition will perch up next to you. Because as you are making money other people are watching you. Never just sit on a spot behaving "God has 'buttered' my bread."
Route 11: You need to have a staying power. Hustle while you wait. Even when nothing seems to be happening, always do something.
Route 12: Once you have the courage to put your hands on the plough, no looking back. Promised Land, here I come; there is no going back to Egypt !
Source: RUNNING A SUCCESSFUL BUSINESS IN NIGERIA: MY EXPERIENCE by Gabriel Ogbechie, Managing Director, Rainoil Limited.
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