By Tomiwa Talabi
The youths have just about had it with the numerous seminars, job fairs and empowerment programs for the youth but the fact is, there are hardly any good jobs out there and no matter how many job fairs we attend, it doesn’t guarantee a position in the labour market. I’d say the earlier people start to realize this, the better.
However, I think the people who know this already but aren’t particularly doing anything to change their situation. And while some are interested in changing their situation, they have no idea how to go about it or go about it the wrong way. Information is power and if these people had the right information at hand, it would help them make the right choices.
So how can millennials create jobs for themselves, you ask?
Being an entrepreneur is attractive and seems like the solution to unemployment and underemployment today, but starting a business is not an easy task.
There are a number of businesses you can start and establishing a lifestyle business is a good idea. One of the most difficult parts of starting a business is deciding on what type of business it should be.
Now I know you are already thinking “Oh, I don’t have funds, I would want to make a profit, it’s a saturated market and very competitive.”
Entrepreneurship requires creativity and the ability to solve people’s problems. Nobody lacks when they solve problems. When you give people what they want, you make life easier for them and that in turns translates to profit for you.
The beauty of establishing a lifestyle business is that it is all-encompassing of what makes people feel better; food and drinks, hospitality, fun, comfort, entertainment, health, and even relationships.
All you have to do is find the aspect of the industry that suits you and create a niche for yourself. The industry might be saturated, but the trick is doing something different and introducing something unique to your business.
However, there are also certain things you must know as a business owner. There is nothing wrong with wanting to make a profit; profit is one of the factors used to measure the success of a business venture. So indeed, expect and come up with strategies to make a profit but much more than that, make sure passion is leading you above all else. This is why it is important you pick a niche that suits you and can fuel your creativity, not simply because it is lucrative. Your passion is what will keep you going when the going gets tough because, as you probably know, nothing good comes easy.
You won’t become a millionaire overnight, it would take a while. So you shouldn’t give up at the sight of early challenges. You should be ready to put in the work and also be patient for your effort to yield fruits.
Also, a lot of people erroneously believe that you do less work when you are working as your own boss but the truth is that while you determine your own hours, if you want to be successful, you might have to do much more than you would as an employee, at least, in the first few years, before you can expand to hire help.
Being an entrepreneur is indeed a good venture to undertake but it takes time, hard work, determination, the right information, creativity, and inspiration. If you have all that, then success is just a matter of time.
Editor’s Note: This article was originally published in The Spark Magazine. Find the magazine here to read other articles.