COMMUNITY CONNECT: 10th EDITION.

INTRODUCTION: 

The 10th edition of the community connect which was held on the 25th of August was the first community connect held since after the Techflock event and it was a very educating and eye-opening edition. The event had an influx of people in attendance and everyone who attended left with some words of wisdom. Abia Tech Hub sees this edition as a milestone and we are happy to have attained this feat of bringing like-minds together.

As a tradition, the event started with everybody introducing themselves at the event. After that, TG the CEO of Abia Tech Hub who moderated the hangout welcomed everybody to the event, and it was on that note that the event officially started. 

TG first started by introducing the topic of discussion which was “ENTREPRENEURSHIP MASTERCLASS, BUILDING IN THE AGE OF CHAOS (BOOTSTRAPPING)”. After introducing the topic, he went ahead to give us a dictionary definition of who an Entrepreneur is and according to the dictionary definition, a person who sets up a business or businesses, taking on financial risks in the hope of profit.

He also further mentioned that as an entrepreneur himself there are two people who he looks up to as his role model in the business world and they are Ben Shapiro and Jordan Peterson. He mentioned one of Naval quotes that have always motivated him “stay at the bleeding edge of trends”. He stated also that out of 100 businesses about 90 plus fail which in turn means that not all businesses survive. He continued by taking us down memory lane of how and when he started his first business in Absu which later failed along the line and how subsequent businesses that followed suit failed as well till he got to where he is today.

Two ways to become a successful business person:  :

  1. You have a runway; that has to do with you getting funding to take off your business career.
  1. You bootstrap:

              Ways to Bootstrap

  • The first way to bootstrapping as an entrepreneur is to ask yourself the very important question “what problem am I going to solve with my business”?
  • You also need to have it at the back of your mind that as an entrepreneur you need to put in money to make money.
  • As an Entrepreneur, you also have to be big on publicity as regards your business, run adverts, be it offline or online always talk to people about your business and know your target audience.
  • Always ask for feedback from your customers and work on the negative feedback and sell your business with the positive feedback.
  • Try to position your business in a way where you do not necessarily have to meet your client in person before a transaction will take place.
  • Also, go with the trend as a business owner. He chipped in that if you are running a business with a business model of 5 years ago you have technically run out of business because the world is evolving and as a business owner you are supposed to always be at the bleeding age of trends like Naval said.
  • Always delegate duties to your teammates for effective productivity, that way you can have less to do and concentrate on the job you have to do for the business and also be able to hold people responsible for their tasks.
  • Understand the psychology and personality trait of the people that you are working with, and learn to use the mixture of positive reinforcement techniques to deal with your team for easier management.’

Some Entrepreneurship take home Nuggets from the event:

  • Learn to separate your personal finance from your business finance
  • Documentation and valuations are very important in business
  • Learn to always detach emotions, and don’t allow your self-esteem to be tied to your company or business.
  • In your team you do not need experts, you need the people who are willing to learn. You just need to be the lion herding the sheep and you can successfully convert the sheep to lions.
  • When hiring in startups, start by hiring generalists after a while you start hiring specialists and experts.

CONCLUSION

In conclusion, he advised that everyone who intends to become an entrepreneur should apply these nuggets so nobody would have to move out of umuahia to start up a business.

One of the attendees asked TG about some of the challenges he faced in the early stage of entrepreneurship.

He stated that he:

Lost friendships and relationships,

Made lots of sacrifices and denied himself lots of frivolities,

Encountered Depression and heartbreaks.

  • He ended by saying “ when using the positive reinforcement technique, leverage on the strength of your teammates and work on their weaknesses.

It was on this note that we ended the event and we got lots of feedback afterward from our attendees that they were mind blown at the event and learned a lot.

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