Achieving Sustainable Entrepreneurship Development

There is a pervasive tendency to equate entrepreneurship development (ED)  with self employment. Many self employed individuals are indeed entrepreneurs, but the majority are not. Their businesses are simply micro-enterprises in the informal sector,  with little  growth potential. The promotion of self-employment is a worthwhile  objective, but it should  not be confused with entrepreneurship development programmes that  in reality focus only on self self-employment are less likely to succeed  in creating economic growth.

Entrepreneurship development should be about helping  people to start and grow dynamic businesses that provide high value added. In determining the difference, it is useful to look at potential growth sectors or geographic areas and to explore criteria for selecting beneficiaries who are entrepreneurial. A needs assessment before programme formulation is useful. An analysis of high-growth economic sectors enable more focused support to entrepreneurs in the most promising sector of the economy.

Entrepreneurship development programmes require a selection process that attempts to identify those target groups that have some of the key prerequisites for entrepreneural success. While it can be argued that public funds should be spent on those who most need help,  a selection process deploys limited resources where they are most effective, to the overall benefit of the community beneficiaries may be individuals and/or groups.

Entrepreneurship development programmes should be formulated to identify risks and determine the likelihood of success, identify the factors that affect the levels of entrepreneurship in the country. These factors include the perception of opportunity, degree of respect accorded to entrepreneurs, acceptance of wide disparities in income and a family environment which is oriented towards business.

An entrepreneurship development programme should help aspiring entrepreneurs to recognize and design unique, innovative business opportunities, based on an analysis of local conditions and their own special  skills. The program can help the entrepreneur to diversify based on his or her basic knowledge of a product or skill in a certain sector without distorting the local markets.

Tips For Aspiring Entrepreneurs

Entrepreneurs appears as someone  who creates wealth for others as well as finds better ways to utilize resources, reduce waste and produce jobs others are glad to get.
If you are ready to enter the world of entrepreneurship, here are a few tips to keep in mind.

Learn from others failures:
Rather than Admiring the small percentage of businesses that grow to become successful, it is also great to study those that end up failing. It I'd true that this research will greatly increase your chances of success, because most companies have made common mistakes that have lead to their demise. Having the humility to learn from the mistakes of others before making them yourself is the secret to success.

Make sure this is what you want: because entrepreneurship entails so much hard work, it is critical to ensure you are following the right path." Amini" said "if this is something  you  really want then think long term  be persistent " she said  the vast majority of great entrepreneurs  failed  multiple times before they finally found  the business idea that took off  and brought them success.

Solve problems :
Entrepreneurs should  always be in search of problems to solve,  and not the other way round said Ajayi  Bam, a lecturer In entrepreneurship and innovation at the university of California, Beverley Haas school of Business. In other words, they should not start with a solution looking for a problem", he said.

Be passionate :
 successful entrepreneurs are driven primarily by need for achievement  and the desire to make a meaningful difference, Benchenheimer said.  " The most important  traits are passion and persistence, but these must  not be confused with arrogance and stubbornness, " he said.

Get Advice from  those  who have done it:
http://superstarters.blogspot.com.ng/?m=1http://superstarters.blogspot.com.ng/?m=1Amino advised would-be business owners to find mentors who are successful, as well as to read books,  network with people they admire and look into great educational programs to help them throughout the process.