Immigrant entrepreneur encourages a ‘Can Do’ approach
I moved to Canada 50 years ago and have never looked back. I salute all immigrants and newcomers for their courage to move to a new country and adapt to the environment.
Canada offers you an opportunity to work in the field of your choice and contribute to the economy. Or if you choose, it allows you to fulfill your entrepreneurial dream. I saw an opportunity and started a business in the ethnic foods market in the 1980s, and from my own entrepreneurial journey, I can say that with the support of Canada and the business community, all you need is your desire to succeed.
Below are my learnings from being a successful entrepreneur:
What entrepreneurship is about:
- Self-confidence: a strong belief in yourself
- Creativity, innovation and finding an idea that is unique and responds to a need in the market
- Not being afraid of failure
Here are five key qualities of successful entrepreneurs ( 5P’s):
- Plan – thoroughly investigated business plan
- Passion – a strong desire and belief in your success
- Persistence – follow your dream with conviction to the end
- Perseverance – do not give up
- Persuasion – your ability to convince others and sell
If you choose to be an entrepreneur, here are seven recommendations from my personal experience on adopting the “Yes, I can do it” approach.
1. Investigate your thoughts, idea or innovation thoroughly. Speak to experts in that field and gather as much information as possible including the market position and potential of your product and/or services.
2. Put together a practical business plan, Formal or informal, but it must include the opportunity and potential uniqueness a need for business, and rationale for adopting or switching to your idea or product, with all the five marketing P’s considered.. viz. Product, Packaging, Price, Placement, and Promotions.
3. Outline your passion, feelings and conviction about the idea
4. If you believe strongly in the idea, keep on pushing till the end as your conviction/belief is the strongest factor in convincing others.
5. Follow your dream, in spite of objections and/or hindrances, and continue until you are proven wrong.
6. In the real world, you need to be practical and need to strongly communicate your conviction in order to persuade people. This will be your greatest challenge.
7. Never give up. Failure is the best teacher. Learn from past mistakes and be ready to move on if needed and explore new horizons. There are many more opportunities waiting for your skills and determination.
And all this brings you back to “Yes, I can do it”. Continue to fulfill your passion, your dream, and your vision.