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Considering other businesses key to surviving as an entrepreneur – Obaego

 

Serial entrepreneur Ejiobi Charles Chibuike, better known as Obaego, has challenged Nigerian entrepreneurs to maximise their potentials by diversifying into small-scale businesses and stop being comfortable with being mono-business entrepreneurs.

He stated that the key to survive as an entrepreneur in this era is to have more than one business.

Citing himself as an example, Obaego, who owned three different businesses ―Teczo Real Estate, Teczo Autos and Teczo Forex Bureau – avowed that a lot of entrepreneurs have so much potential that they are not exploiting yet.

“If you have successfully run a small-scale business, then by carefully upgrading your management skill and keeping your passion high, you can venture into new areas.”

To support his view that a good entrepreneur can run two different business areas profitable, Obaego drew from his experience in real estate and forex trading.

“For me, the real estate business has been a good career option, though it comes with its own difficulties and challenges, because it is quite competitive and requires capital injection, but the good side of it is that the sector is always busy as humans’ need for residential apartments, office and other buildings keep rising. Forex trading, on the other hand, has to do with trading of foreign exchange to the public and it is highly regulated by law. You can, however, run a successful forex business when you blend prudent analysis and effective implementation,” he articulated.

Noting that the recipe for entrepreneurial success does not preclude hard work, Obaego, however, opined that government could play a big role in ensuring that the business community are safeguarded from failure. To this end, he urged the Nigerian government to lend more support to private sector-driven business initiatives especially, small scale businesses.

“It is imperative for our governments, both federal and state, to support businesses because if the effort is sustained, it helps to minimize rural-urban migration. Support for small scale businesses will enhance the growth of the economy of local communities and this will reduce the migration of the locals to the cities in search of non-existing jobs,” he explained.

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