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THE JOURNEY TO ENTREPRENEURSHIP

As an entrepreneur who has so far made a few steps into the business world, I decided to start this blog where I will be simply sharing a few thoughts, testimonies, views, and bits of advice to my younger brothers and sisters.

I will be regularly posting content with a view to also contribute to the training of youth in my area of specialization and the development of the private sector.
It is an uphill battle to start and grow a business. This blog is a hand I am lending my country’s private sector.


Recently, I came to know that in the whole world, there are only are 582 million entrepreneurs. Yet, starting a business is not only a desire but a plan for many of us. According to a 2013 study from Rasmussen College, 71 percent of USA millennials working a typical 9-to-5 job have the desire to quit and go work for themselves. A 2014 study from Bentley University revealed similar stats with 67 percent of millennials wanting to opt-out of the traditional “corporate climb” and start their own businesses. Changing the world by doing something tangible, and therefore making a positive impact is thought of and wanted by a big number of people. However, making it actually happen by shifting from the starting block is the very first step towards success. Unless one makes it actually happen, dreams remain what they are.

The world does not lack people with ideas. What the world is in shortage of is people with the strength of character and courage to follow through on ideas they have. Entrepreneurship requires much more than just having ideas, knowing the current opportunities/trends, or being capable to debate about things that can sell best. Business requires more than even the human need to be understood and supported. Most people in need of the latter never make it!

For those who finally make it happen, the most exciting and wonderful thing is the business launch celebration. Day one is always the most thrilling time, but the subsequent period is the most daunting challenging time; the entrepreneur discerns progressively that clients are not easy to attract and retain, he/she realizes that contracts are not easy to secure, and notices that it is difficult to make it through the networks. Upon the creation of a company, the most unnerving risk is the potential to fail. Statistics show that, in the US, 22.5% of businesses fail in their very first year of existence. And more alarming is the fact that, in the same country, 49.3% of small businesses founded in March 2013 were closed by March 2018, which is 50% of businesses failing in their 5 years of existence only. Over a span of just 10 years, US statistics prove that the failure rate of start-ups rises up to 70%.

In Rwanda, as per the 2014 entrepreneurship impact assessment study, the main triggers for creating a business were unemployment (32.9%), new ideas (31.5%), and overall satisfaction (27.2%). As per the Establishment Census of 2017, in Rwanda, the number of establishments has increased from 154,236 establishments in 2014 to 190,288 establishments in 2017, representing an increase of 23.4 percent in three years. Clearly, a number of people are continuously venturing into business. But definitely, not all of them manage to get off to a flying start.

I am writing this short story for young men and women willing to sell something to the society out of the best skills they have. Entrepreneurs often lack points of reference in the above-stated problems and some do not manage to keep their heads above water because the best trainer in business is not any academic book, but hands-on knowledge, experience sharing, or master classes.
As an entrepreneur who has so far made a few steps into the business world, I decided to start this blog where I will be simply sharing a few thoughts, testimonies, views, and bits of advice to my younger brothers and sisters.

I will be regularly posting content with a view to also contribute to the training of youth in my area of specialization and the development of the private sector. It is an uphill battle to start and grow a business. This blog is a hand I am lending my country’s private sector.

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Jean D'amour on :

Very interesting article

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