There is a pressing need to encourage teenagers to embrace entrepreneurship, especially now.  This is the viewpoint that is held by so many people and for good reasons too. After all, all of the multinational companies we have today were once startups, founded by people with zeal and burning entrepreneurial spirits who wanted to do more with their lives other than merely work for others. So yes…teenagers should be encouraged to embrace entrepreneurship, especially in these days and times when there are hardly any employment opportunities in spite of the increasing number of graduates that are churned into the labour market every year.

But inasmuch as it is imperative for more teens to be encouraged to be entrepreneurial, there is also the need for them to be informed of all the basic things they need to know. They will enable them be better prepared for the task in order that they will not be taken by surprise. That said, the following are some of the basic information every aspiring entrepreneur must possess to better inform their plans. Learn please.

You must have the passion. Entrepreneurship is not a bed of roses. If anything, it is replete with uncertainties. The chances of you failing as soon as you start are as high as your chances of ever succeeding. And the truth is that many people fail many times over before they eventually make any headway. But through it all, the one thing that keeps any true entrepreneur focused and determined to succeed is their passion. Therefore, you must be passionate about the business plan you have and the solutions you believe you are offering.

You must have a truly valuable product or service. Nobody likes to part with their hard-earned money just anyhow. For every kobo they spend, they want to get a commensurate value. And this is the reason why any aspiring entrepreneur must ensure that they have a product or service that will truly be beneficial to the people; products and services that solve actual human problems. Once you have this sorted, you make your entrepreneurial ambition a lot easier.  

Know the right market where your useful product/services matters. It is one thing to want to become an entrepreneur, another thing to have a tangible value you are offering in exchange for money and yet another thing to properly define a segment of the market who truly needs your products and services. Every true entrepreneur is able to do this. There is no way you could possibly succeed as an entrepreneur without first segmenting your market and figuring out how best to target them. Therefore, you must define your market.

You must look up to mentors. There are several successful Nigerian entrepreneurs who have achieved remarkable feats. They should inspire you to be greater. That is why you must look up to them, for inspiration because trust me…you will need such. When the challenges start coming your way and you feel like giving up, the inspiration that one day you could become the next Dangote should keep you focused and determined to do more.

So do you truly wish to be an entrepreneur? Well now you know the basics so start right away by developing that business idea that will make you the next tycoon.