Why Young Entrepreneurs Fail And What They Must Know

By Azumah Vozbeth
Career & Money Why Young Entrepreneurs Fail And What They Must Know
MAR 18, 2019 LISTEN

To become an entrepreneur, you must be able to invest in business setups, wait patiently for it to grow to where you will begin to see daily returns, which will eventually allow you to break even and subsequently begin to see the business generate profit.

One thing upcoming or young entrepreneurs do is to begin to imagine the profit of the business even though they haven’t yet started it. They fail to calculate how long they will have to wait before they reach the profit margin, they also fail to calculate how long they will have to work before they break even, and finally, they fail to calculate the magnitude of efforts they need to put in on a daily, weekly or monthly basis before they can reach the profit margins they have dreamed of.

Any business that will generate huge sums of money for you in the short term is a scam and can’t last forever. “Business is not for the Pope in Deed“. Business is for the businessman - one who understands how business works and the sacrifices they have to make to get the business functioning.

Every upcoming entrepreneur must understand his business and what it takes to reach the goal - something that involves careful planning, and sacrifice.

Since I decided to become an entrepreneur/Agripreneur, I practically abandoned friends, family members, and any other person that mattered to me. They understood little about my journey. I went through sleepless nights finding what should work and what would not work. I was in a world of my own where many around me doubted my capabilities, expecting me to fail.

I work hard on the premise that I don’t work for myself, but rather I work to rescue a generation, my generation. Other entrepreneurs must think likewise and join forces to begin to solve Africa’s most pressing problems. Since the world chooses to ignore or recognize what we do, we ourselves as entrepreneurs can only rely on our individual strengths and weaknesses to transform Africa.

To develop Africa - we the entrepreneurs hold the key to Africa’s prosperity; where politicians can only hope to understand it.

Vozbeth K. Azumah
CEO of West Africa Snail Masters
[email protected]
Vozbeth K. Azumah
Director of My Community Farm Project
Agotime - Ziope District, Kpetoe, Ghana
Phone: +233 204495570 / +233 543557517
WhatsApp: +233 554546497
Facebook Account: Facebook

ModernGhana Links