WHAT STIFLES THE ENTREPENEUR’S CREATIVITY? (The Minding Your Business MYB™ SERIES)



An entrepreneur must always think abundance.  Indeed, there is enough market & resources for everyone.  All it requires is a little bit of creative ingenuity from you.   Year to year new businesses spring up, becoming profitable overtime and still remain in existence years after even with a challenging economy.



wearing many hats!



overwhelmed!

Today, entrepreneurs are constantly struggling to remain relevant to the purpose for ‘setting up shop’.  After overcoming the hurdle of pushing your services or products to the market, the next step of owning a market space becomes an even greater challenge. 

 

The main reason is – ‘the stifling of the entrepreneur’s creativity’.   The entrepreneur is overwhelmed wearing several hats. From customer service personnel, marketer, accountant to I.T personnel.  He becomes a ‘jack of all’.  Gradually, the entrepreneur begins to lose focus and creativity.  He/she becomes over stretched; worrying about so many issues and at some point may begin to regret the decision to start a business.  To own a market space, you need to stay creative and be innovative.  That’s why APPLE and SAMSUNG are still relevant players in the Mobile phone market.

 To solve this problem, the entrepreneur needs to ‘OUTSOURCE’.  Yes, outsource some of these services – I.T, finance/accounting functions, marketing, etc.  When you outsource some duties, you UNBURDEN your creative spirit.  The time spent studying and trying to understand accounting documentation for instance can now be focused on creating more value and further developing your products/services.

Outsourcing can be negotiated and even paid for without cash. For example there are new companies that are offering highly discounted fees and even free services for a start.  There is no harm in taking up any of these offers.  Where you have to pay, negotiate for the best deal.

Start outsourcing now before you get to that point of ‘stifled creativity’.  Outsource areas of non-expertise one by one, and you will be amazed at what you can achieve in a short while.

 

**This information is your currency; use it wisely.

 I remain passionate about your success,

 

Ehis Egbuji (@ehisbebe)

..Providing practical personal finance & business finance solutions!