One thing we need to understand is that, failure is part of every successful business, founders must first of keep that in mind and know they shall face it as they set-up their project. There is no business that has been able to be executed for 100% without any failure within the process. The most important thing is you find ways to overcome the failure and not just feel absurd and relax or sit down and see your project collapse.
This is very important and no one educates for that. People think that entrepreneurship is to set up a store and start earning just because customers come to you by themselves. Most businesses don't make it to two years.
I'm all about trusting the real builders out there. Even when they fail, if they stand up to their mistakes, learn from them and keep on building, that's usually someone I'm comfortable placing my trust in and often times my money as well.
Accepting a mistake and continuing to build the project with your head held high and facing difficulties is something that generates real confidence and inspires loyalty! These are really trustworthy
Exactly! You can trust someone who got their sleeves rolled and make things work. Even if they fail at the end, you can see the work done and their leadership. They will try to make something work eventually and they will succeed!
Business competence is all about learning from your experiences - both the successes and the failures. Even if you miss opportunities or make mistakes, you can learn from them and grow as a result. That's what makes someone truly competent.
Absolutely! Embracing experiences, whether successes or failures, is key to business competence. Learning and growing from every opportunity and challenge contribute to a well-rounded and resilient professional journey. I'm in support.
I agree with u. When I started my travel agency, I had some idea of what I was doing, but I learned a lot from my mistakes and successes. If you don't have competence initially, you can acquire it if you have the motivation to obtain it.
If there are no failures, success will not come, you have to fail to learn from mistakes, one thing is to know the theory, but in practice it is another thing, that's why you should not be afraid to fail, but rather to do nothing.
Learning from failures is an important aspect of business competence every founder needs. It may not always go as planned but staying with the lessons is priceless for success.
Thank you great teacher, they say Jack or all trade but master of done. Definitely, setting priority right will help to overcame wasted efforts and resources, I know how scarce resources are, in order to maximize them and have a rewarding result from our hustling, there must be a set goals to be achieved
To be competent, you must write down your vision, from then, it will become a reality. Knowing where you are going will make you strive for competence.
We cannot overemphasize the need for clearly defining the goal of the project in a way that others can join us to interpret their best point of collaboration.
Business competence is really important. One way to display business competence is to realize that there are things you dont know and need to strive to know. Sometimes, you have to learn from experiences. Missed opportunities, and lots of mistakes. But being competent means that you learn from your mistakes and grow from there and strive to do things a little differently
I agree. Admitting that you've made a mistake is extremely necessary, especially so that you don't alienate people from you, because if you look for culprits, you'll end up alone.
So, being competent is essential for business founders day he should strive to learn new things whether from his mistakes or from that of others. It could be making research. What matters is that he continues doing well in his business
Or course. The competences like any other skill can be learned by the experience. You don't just grow up with these skills, instead of that, you learn them in order to your own experience at the school, the family, the community.
As an entrepreneur turning a vision to reality isn't an easy task, failure is part of the process,but when it continues, then it's about time you bring in Someone competent to join your team to inspire your project with their intelligence.
Creating a company has its light side and its dark side, there will always be losses, small failures and so on, the important thing is to grow with failures and take them as impulses to improve your company and make it stronger
the show is Live. Time to join and enjoy the behind the bags. Some give aways especially when one get involved and participate fully on the show. Join and learn more. @marajah, @ngobaby, @kenechukwu97, @iamchimary,
The founder of a project must have many business skills to achieve the objectives, hence he uses the most appropriate strategies to make profits in the crypto market.
I resonate with the speaker. I have also been one who believe is out working everyone else. It compensate for lack of talent or skill most times. This applies to the web 3 space. Mostly people are only willing to do half arse jobs. So when you actually do the work and commit more than everyone else, you succeed. That's my secret to success in the web 3 space.
Yeah, doing your absolute best even when there's little reward is what gets you to that stage of great rewards and I think most people forget that these things take time, you have to work out for a while to start to succeed,
The founder is the one who most needs to have a business mind, largely due to the fact that he will choose the other players who will make up his team.
Great point of analysis, the founder must have competence and experience, or at least a vision of what he wants for his company and this includes knowing how to choose the right people for the positions.
in any business, self confidence is very important. In fact it is the first thing any business founder should have. Without self confidence you do not have anything as a business founder
You are right. Self-confidence is a key ingredient in any successful founder. It's not just about having a positive attitude, but rather about truly believing in yourself and your ability to achieve your goals.
You made a very good point. Believing in oneself despite the failures, push downs or discouraging talks from people and sticking to the goal of building the business to success. At the long run, competence would have been built.
Yeah, well said. Self-confidence is really important. Without being confident in oneself, one can't convince other to be confident or invest in their project or company.
There's nothing better than a few failures to teach us some lessons. I've made some mistakes in past ventures that have given me valuable insights. Today, I am a more experienced person because of what happened.
Failures make us in all walks of life. There aren't mistakes if we learn lessons from them and next time we try we ace it.
As my mother would say, you fall Edward then you get up dust yourself down and go in even harder!
I am not a bot what's doing on, i have been removed from another podcast, how do I do the task if I'm not involved. This honestly is getting frustrating.
what is a business without a good lawyer and adviser, they act like your personal savior in your difficult times. AAnd help you holdhold on strong while you rise
Yeah, I think a founder of a project does need a business competence, cause when everything is going well its a bull its easy, but when the bear market hit and money starts to become short that's when a management of a business comes into play.
Yes, generally when everything is going up, the project moves forward smoothly, but, if you are a good leader with vision and financial knowledge, I am sure you will withstand a bear run, but you must know how to guide difficult decisions.
Competencies should not be seen as enemies, but as an opportunity to develop better strategies and growth. As you say, when everything is going well, it looks easy and you don't grow.
That's right, the leader or founder must be competent, have the skills to manage all aspects of the project and, of course, know how to work with his people, this is indispensable.
Embrace your failures and use them as stepping stones
A great piece of advice from Soc. I think it's true that people are afraid of what others perceive of them when the things they do fail or do not work at some point.
Hehehe I have gotten further away stumbling than I did with my plans. So yeah, you don't even need to go to a specific place, you can use what you have to keep going forward and up until you are high enough to see the horizon and now you have a goal.
That's the way to go rather than cowering out because you met a hurdle in the process. A determined or driven person would most likely keep pushing no matter the stumbling blocks they come across along the way.
funny thing isbwhen we cross the line, we discover that those fears and failure were just blocking you from seeing the brighter side of yourself, don't let failure decide for you, beat it, you can!
You really need competence as a leader or a founder, before you start to execute a business you need to prepare yourself for different kinds of situations have strong perseverance, and surround yourself with people with the same vision.
Competence is necessary to build something in any aspect of life, be it a community, a business, a relationship or anything else. If you're not competent in the areas in which you want to work, at some point this will weigh heavily on you.
I feel like it's easy to tell people not to fret at the sight of failure. But the truth is that it stings a lot. Failure is demoralizing. That doesn't mean we should let it limit us. But it's worth it to acknowledge its negative effects
Its true that failure can be disheartening, but then we must try to look beyond it and sees it as a life lessons that brood our experience to get better as time goes on.
So in a nutshell, failure helps us understand the process.
The thing is not everyone can handle failure and some people just lost interest and give up on what they doing or building up once the fail, we all need to learn to accept failure in our lives and that how we can start to do
Trusting in ourselves, in the process of a project and even in the small stumbles we may have in it, is part of growth. But sometimes we are going to have mixed feelings and we have to live them because they are also part of the process 😊
Embracing your value and using it to fuel your desire to do better should be the goal of every business minded individual, it's easier said than done but it's actually the easiest way one can bounce back after failing.
This makes so much sense. And I think it's easy to do as well. If we lean into the qualities that make us valuable, there is no way we won't get paid. It's the same thing as mastering your craft and being the best.
There are so many specific ways to learn about Business competence. if I want to be a manager, I will learn about leadership, motivation, and team building. Want to be a marketer, learn market research, consumer behavior, and advertising.
I sincerely agree with you, since business competence could be ensured from different angles, it is thus very necessary to build competence round a specfic area of business specialisation to be able to work effectively
As a founder or builder business competence is what is learnt overtime in the journey of business building.
You gain knowledge, experience, there are wins and failures too so as you continue, it will get to a certain level where you will be so grounded in the business that you can think of spreading out because the business is strong and doing well.
The whole bankruptcy thing is totally different between countries. In the UK it is taboo big time, but over in The States it is commonplace both for personal and business bankruptcy. That also makes the fear of failing I think less on your mind in America,as you can say fluff it,decalrebankruptcy and start again. The UK way different!
Who would start up a business without a valid reason and aim? The purpose for business creation development must not be ignored,this stirs up and ignites the desire to go deeper and grow stronger
The success’s are what we tell on our resumes making it look like a smooth ride but beyond those rides lies tons of failures that have been encountered on the way and that’s what makes your business stand out as you keep pushing regardless
A beginner sucks at first on the first attempt at business, it's a process which is what a new business owner should know, and it only gets better with time. Great point yo!
That is why consistency is key to every business owner out there in the market. The drive to keep pushing forward againts all odds has be in the owners mind. The more the individual delivers the more the business is likely to bloom.
Yeah it gets bigger and better with every hurdle on the way. As a beginner expecting to get a hang of everything almost immediately is not realistic neither is it magical. Trust the process and everything will work out well in due time.
In my opinion, it is necessary to have a bit of business competence, so that its founder can closely monitor what is happening and with this can generate better business. Of course, the founder of a great idea can also put other people to manage the your business, in any case it needs competent people to make your company grow
Yes, for a business to thrive and succeed, you need to work with a good team that will collaborate with you. Get a good lawyer for advice and monitor your sakes volume .
Without a doubt!! A business competence remains key among successful entrepreneurs. The founder’s who are not so knowledgeable in this field may find themselves disoriented in a complicated dynamic marketplace. As such, founder should strive to be competent in their business through which they can increase their odds of success and create a flourishing sustainable business.
For any business to flourish the business owner must be competent, and must have in mind that at some point they might fail, but when they do they should be able to find a way around to make things work.
Jeremy made a nice point, a competent person focuses on what he doesn't know and tries to improve on it, but an incompetent person thinks he knows it all and doesn't improve himself.
And that is the thinking that leads to failure. Relying on specialized people is always ideal, but if you are not willing or do not have the means to resort to them. You have to learn from scratch to be able to do anything successfully.
Spot on. Often, the less competent one usually makes a loud noise like he knows everything. While the most knowledgeable person usually just keeps finding ways to better himself.
I won't say it's a must for a founder to be business competent but then it would be a lot better if he or she did. All they have to do is get someone who is business competent on their team who is business competent and I think that works too.
okay! I'm not sure if I understand your POV, but I think I do. It isn't a must for a founder to be business competent, I mean, that's if he/she doesn't want to grow and improve. However, if a founder wants to grow and improve, it is a must to be business competent (just my opinion.)
I think putting it in context will help. As a founder that means you are competent at something but might not really be in business, the best thing to do is start working with someone who is business competent and from there you can grow. I see cases like this before, so never say since you are not business competent you can't be a founder
Yea, I kind of agree with your take on this, if the founder isn't competent in the business aspect, hiring someone who is would bridge that gap and enhance the progress of the project moving forward.
That's right, the founder is human after all not some AI or something. It's totally fine to hire someone better than him in that regards to work with and in the process of working with them he can as well learn from them
Hmm, I won’t say it’s a must also but as a founder which can also make you be seen as a leader, it is a must for you to be business competent, you can’t just leave all the hard work to your partner or workers every time, lead by example.
Well,I still go with what I said because I've seen several times when a founder is not good at something but has competent hands to fill in for his incompetence and with time he became competent because he seeked for help. He's a man not a robot, he can always learn on the job
I agree with you, it's good for a founder to have a level of business competence and tthen get one or two people who are competent in business in the management team.
With the efforts of the team put together, the business will grow.
That's right, as a founder of something you'd definitely have a good knowledge of it normally so getting more people to work with will boost your capabilities even more.
I think it's actually a must for a founder to be competent in the business and trust me I am speaking from experience. Having someone in your team might not actually work out well most times but knowing about your business matters alot.
You're the founder so you surely know what you founded but going further, you can't know it all and when you have someone who is specialized on what you are not so good at, you as a founder will get to learn from them and get better from there.
But like I said, it's better if a founder is business competent
I think it's all about putting it into perspective though, there are some cases when it is a must you be business competent as a founder but there are other cases when it is fine to learn on the job
As a business founder, you need to know the purpose of starting up a business. Is it for making money, to help people, to travel, satisfy people? You need to consider these. So it will help you navigate your way to success.
Every business founder must have this self esteem and confidence that sure, it's gonna work out well. This prepares him to be ready and on the lookout for ill signs and of course tackle them on time
Failure can be scary, especially if you're the type that pays much attention to criticism, you love to know what people say about you. For me failure isnt a bad thing, itshould be a step to successes. It will make you to be alert & cautious
I agree with you, failure is scary, and nobody wants to fail no matter how little it may seem. If a founder isn't competent enough, he or she will experience failure. And yes failure might not seem that bad.
I have noticed that business founders and entrepreneurs who fail at first trial, restrategize and improve has had the chance to be very successful, doing great in their various businesses. Failure braces us up to be better entrepreneurs
Right! Failure is a good teacher. Of course, some people decapitalize on those failed attempts and it's a hard thing to overcome. Things like initiative, motivation and not having all your eggs in the same basket is what helps to try again.
Yeah, that should be the aim of a good founder or leader of a project, don't just give up or become embarrassed when you experience a failure in your project, failures are part of the methods in becoming successful, embrace it and strategized a new plan and execute. There is always a try and error and that should be part of your plans when building a project.
failures to teach us some lessons. I don't think it's bad to experience failure just that some give up on their dreams when they fail why some utilizes the opportunity to learn more and come back stronger which is the right thing to do
You're right, it's not bad to have failure. Many times you learn this way and gain experience. We should not give up on our dreams. We should always learn from our failures and become stronger.
Exactly. What you learn from that too. You have to learn from failures and not everybody knows how to deal with that. I guess that's something you learn over time.
It is never a bad experience to see failure in your project building, it should rather encourage you as a founder to work harder and put more effort into your project to make it a better and successful one. Failure is there to encourage us.
To check if a business founder is competence enough then they must have self confidence, financially oriented. Know about personal finance and understand financial literacy. This are so good for any business founder
I think self confidence is the main thing before starting a business. Because sometimes the revenue depends on the self confidence of a businessman. With a confidential mind, a businessman can maintain the best strategy about his business.
As I want to be an independent woman, I want to do business for growing my personal finances. As a result, I have some business ideas to start my business. But suggest me how can I prepare my investment plan from the beginning?
That's very important. You need to be prepared for a multitude of scenarios and also you need to understand more or less when you can expect to turn your business into a profitable one or, alternatively, when you can expect to raise some funds through investments or something like that. That would give you a rough idea of how much you need, how long you have and so on
sometimes failure is necessary, it teaches people how to be strong and how not to give up, so failure in business doesn't not mean you are not business oriented. I totally
To a great extent, a founder needs a business competence. If you don't have business competence, you will barely understand how to make decisions that would affect your business positively or otherwise. That puts you ahead of competitors.
'applied' this is not just about nfts and crypto. So much takes on winning in business, any business at all, and generally life. Turning out to be one of my best space so far.
One thing we need to understand is that, failure is part of every successful business, founders must first of keep that in mind and know they shall face it as they set-up their project. There is no business that has been able to be executed for 100% without any failure within the process. The most important thing is you find ways to overcome the failure and not just feel absurd and relax or sit down and see your project collapse.
This is very important and no one educates for that. People think that entrepreneurship is to set up a store and start earning just because customers come to you by themselves. Most businesses don't make it to two years.
I'm all about trusting the real builders out there. Even when they fail, if they stand up to their mistakes, learn from them and keep on building, that's usually someone I'm comfortable placing my trust in and often times my money as well.
Accepting a mistake and continuing to build the project with your head held high and facing difficulties is something that generates real confidence and inspires loyalty! These are really trustworthy
Exactly! You can trust someone who got their sleeves rolled and make things work. Even if they fail at the end, you can see the work done and their leadership. They will try to make something work eventually and they will succeed!
Business competence is all about learning from your experiences - both the successes and the failures. Even if you miss opportunities or make mistakes, you can learn from them and grow as a result. That's what makes someone truly competent.
Absolutely! Embracing experiences, whether successes or failures, is key to business competence. Learning and growing from every opportunity and challenge contribute to a well-rounded and resilient professional journey. I'm in support.
I agree with u. When I started my travel agency, I had some idea of what I was doing, but I learned a lot from my mistakes and successes. If you don't have competence initially, you can acquire it if you have the motivation to obtain it.
If there are no failures, success will not come, you have to fail to learn from mistakes, one thing is to know the theory, but in practice it is another thing, that's why you should not be afraid to fail, but rather to do nothing.
Learning from failures is an important aspect of business competence every founder needs. It may not always go as planned but staying with the lessons is priceless for success.
certainly right here a business founder must have the attribute of being hard working because this essential for every business
Working hard should be clearly defined. It should not be just getting busy with stuffs but with a good sense of priority and resource combination.
Thank you great teacher, they say Jack or all trade but master of done. Definitely, setting priority right will help to overcame wasted efforts and resources, I know how scarce resources are, in order to maximize them and have a rewarding result from our hustling, there must be a set goals to be achieved
To be competent, you must write down your vision, from then, it will become a reality. Knowing where you are going will make you strive for competence.
We cannot overemphasize the need for clearly defining the goal of the project in a way that others can join us to interpret their best point of collaboration.
Business competence is really important. One way to display business competence is to realize that there are things you dont know and need to strive to know. Sometimes, you have to learn from experiences. Missed opportunities, and lots of mistakes. But being competent means that you learn from your mistakes and grow from there and strive to do things a little differently
I agree. Admitting that you've made a mistake is extremely necessary, especially so that you don't alienate people from you, because if you look for culprits, you'll end up alone.
So, being competent is essential for business founders day he should strive to learn new things whether from his mistakes or from that of others. It could be making research. What matters is that he continues doing well in his business
Or course. The competences like any other skill can be learned by the experience. You don't just grow up with these skills, instead of that, you learn them in order to your own experience at the school, the family, the community.
As an entrepreneur turning a vision to reality isn't an easy task, failure is part of the process,but when it continues, then it's about time you bring in Someone competent to join your team to inspire your project with their intelligence.
This is what founders have to learn. Some of them think they are capable of doing everything.
They forget about the existence of a Hierarchy of competence & that's why they fail to get more competent people involved when necessary.
Yea that's absolutely correct and definitely the perfect way to go, putting competency into consideration is important to thrive.
Creating a company has its light side and its dark side, there will always be losses, small failures and so on, the important thing is to grow with failures and take them as impulses to improve your company and make it stronger
that's true, in fact failure are part of the process that teaches us core lessons to improve on going forward.
Failure is almost inevitable as a business owner, so bringing someone competent to the team isn't a bad idea at all.
exactly, such people help bring stability and curb the failure to a minimal level.
Orun kun mi
Ibo latun jasi bayii 😂
🤣🤣🤣
the show is Live. Time to join and enjoy the behind the bags. Some give aways especially when one get involved and participate fully on the show. Join and learn more. @marajah, @ngobaby, @kenechukwu97, @iamchimary,
The founder of a project must have many business skills to achieve the objectives, hence he uses the most appropriate strategies to make profits in the crypto market.
having a clear vision and strategies to achieve those views helps a lot to be more competent and successful
Thanks so much, Brother. I'm live in the space and active in the threadcast. Haha
Have an amazing Wednesday, brother.
thanks so much brother. You are very active and hardworking. I'm reading your threads and engaging
I resonate with the speaker. I have also been one who believe is out working everyone else. It compensate for lack of talent or skill most times. This applies to the web 3 space. Mostly people are only willing to do half arse jobs. So when you actually do the work and commit more than everyone else, you succeed. That's my secret to success in the web 3 space.
exac
Yeah, doing your absolute best even when there's little reward is what gets you to that stage of great rewards and I think most people forget that these things take time, you have to work out for a while to start to succeed,
exactly my thoughts on this, a business founder should be ready to work hard, as this is the first base to a successful business flow
The founder is the one who most needs to have a business mind, largely due to the fact that he will choose the other players who will make up his team.
Great point of analysis, the founder must have competence and experience, or at least a vision of what he wants for his company and this includes knowing how to choose the right people for the positions.
True, the founder selects the team so he or she needs to have the business mind or competence so he can hire the right people
Yes, you are absolutely correct.
He needs to be a very competent person business-wise so as to choose those other actors to make up his team.
This is key and help shape the future of the business.
Self-confidence is also a quality that leads to competence, believing in one's ability and proving it in words and deeds.
in any business, self confidence is very important. In fact it is the first thing any business founder should have. Without self confidence you do not have anything as a business founder
That's right.
You are right. Self-confidence is a key ingredient in any successful founder. It's not just about having a positive attitude, but rather about truly believing in yourself and your ability to achieve your goals.
You made a very good point. Believing in oneself despite the failures, push downs or discouraging talks from people and sticking to the goal of building the business to success. At the long run, competence would have been built.
Yeah, well said. Self-confidence is really important. Without being confident in oneself, one can't convince other to be confident or invest in their project or company.
There's nothing better than a few failures to teach us some lessons. I've made some mistakes in past ventures that have given me valuable insights. Today, I am a more experienced person because of what happened.
Failures make us in all walks of life. There aren't mistakes if we learn lessons from them and next time we try we ace it.
As my mother would say, you fall Edward then you get up dust yourself down and go in even harder!
I am not a bot what's doing on, i have been removed from another podcast, how do I do the task if I'm not involved. This honestly is getting frustrating.
Has this happened before? Are you writing a comment? If so what is it..
what is a business without a good lawyer and adviser, they act like your personal savior in your difficult times. AAnd help you holdhold on strong while you rise
Good Morning everyone o/
Yeah, I think a founder of a project does need a business competence, cause when everything is going well its a bull its easy, but when the bear market hit and money starts to become short that's when a management of a business comes into play.
Yes, generally when everything is going up, the project moves forward smoothly, but, if you are a good leader with vision and financial knowledge, I am sure you will withstand a bear run, but you must know how to guide difficult decisions.
Competencies should not be seen as enemies, but as an opportunity to develop better strategies and growth. As you say, when everything is going well, it looks easy and you don't grow.
That's right, the leader or founder must be competent, have the skills to manage all aspects of the project and, of course, know how to work with his people, this is indispensable.
A great piece of advice from Soc. I think it's true that people are afraid of what others perceive of them when the things they do fail or do not work at some point.
Hehehe I have gotten further away stumbling than I did with my plans. So yeah, you don't even need to go to a specific place, you can use what you have to keep going forward and up until you are high enough to see the horizon and now you have a goal.
That's the way to go rather than cowering out because you met a hurdle in the process. A determined or driven person would most likely keep pushing no matter the stumbling blocks they come across along the way.
this is great
Yes. This is going to stick with me for sure. Simple but it says a lot.
funny thing isbwhen we cross the line, we discover that those fears and failure were just blocking you from seeing the brighter side of yourself, don't let failure decide for you, beat it, you can!
Yep. It's easier said than done but with enough passion or drive, I think we can always see the brighter side of things and just keep on.
You really need competence as a leader or a founder, before you start to execute a business you need to prepare yourself for different kinds of situations have strong perseverance, and surround yourself with people with the same vision.
Competence is necessary to build something in any aspect of life, be it a community, a business, a relationship or anything else. If you're not competent in the areas in which you want to work, at some point this will weigh heavily on you.
I feel like it's easy to tell people not to fret at the sight of failure. But the truth is that it stings a lot. Failure is demoralizing. That doesn't mean we should let it limit us. But it's worth it to acknowledge its negative effects
Its true that failure can be disheartening, but then we must try to look beyond it and sees it as a life lessons that brood our experience to get better as time goes on.
So in a nutshell, failure helps us understand the process.
Aptly articulated.
Failure helps us understand the process
The thing is not everyone can handle failure and some people just lost interest and give up on what they doing or building up once the fail, we all need to learn to accept failure in our lives and that how we can start to do
Trusting in ourselves, in the process of a project and even in the small stumbles we may have in it, is part of growth. But sometimes we are going to have mixed feelings and we have to live them because they are also part of the process 😊
Embracing your value and using it to fuel your desire to do better should be the goal of every business minded individual, it's easier said than done but it's actually the easiest way one can bounce back after failing.
True, somehow things are recovered, not throwing everything into the sea believing that all is lost.
This makes so much sense. And I think it's easy to do as well. If we lean into the qualities that make us valuable, there is no way we won't get paid. It's the same thing as mastering your craft and being the best.
There are so many specific ways to learn about Business competence. if I want to be a manager, I will learn about leadership, motivation, and team building. Want to be a marketer, learn market research, consumer behavior, and advertising.
I sincerely agree with you, since business competence could be ensured from different angles, it is thus very necessary to build competence round a specfic area of business specialisation to be able to work effectively
As a founder or builder business competence is what is learnt overtime in the journey of business building.
You gain knowledge, experience, there are wins and failures too so as you continue, it will get to a certain level where you will be so grounded in the business that you can think of spreading out because the business is strong and doing well.
The whole bankruptcy thing is totally different between countries. In the UK it is taboo big time, but over in The States it is commonplace both for personal and business bankruptcy. That also makes the fear of failing I think less on your mind in America,as you can say fluff it,decalrebankruptcy and start again. The UK way different!
Who would start up a business without a valid reason and aim? The purpose for business creation development must not be ignored,this stirs up and ignites the desire to go deeper and grow stronger
The success’s are what we tell on our resumes making it look like a smooth ride but beyond those rides lies tons of failures that have been encountered on the way and that’s what makes your business stand out as you keep pushing regardless
A beginner sucks at first on the first attempt at business, it's a process which is what a new business owner should know, and it only gets better with time. Great point yo!
That is why consistency is key to every business owner out there in the market. The drive to keep pushing forward againts all odds has be in the owners mind. The more the individual delivers the more the business is likely to bloom.
Yeah it gets bigger and better with every hurdle on the way. As a beginner expecting to get a hang of everything almost immediately is not realistic neither is it magical. Trust the process and everything will work out well in due time.
In my opinion, it is necessary to have a bit of business competence, so that its founder can closely monitor what is happening and with this can generate better business. Of course, the founder of a great idea can also put other people to manage the your business, in any case it needs competent people to make your company grow
Yes, for a business to thrive and succeed, you need to work with a good team that will collaborate with you. Get a good lawyer for advice and monitor your sakes volume .
Without a doubt!! A business competence remains key among successful entrepreneurs. The founder’s who are not so knowledgeable in this field may find themselves disoriented in a complicated dynamic marketplace. As such, founder should strive to be competent in their business through which they can increase their odds of success and create a flourishing sustainable business.
For any business to flourish the business owner must be competent, and must have in mind that at some point they might fail, but when they do they should be able to find a way around to make things work.
Jeremy made a nice point, a competent person focuses on what he doesn't know and tries to improve on it, but an incompetent person thinks he knows it all and doesn't improve himself.
And that is the thinking that leads to failure. Relying on specialized people is always ideal, but if you are not willing or do not have the means to resort to them. You have to learn from scratch to be able to do anything successfully.
Spot on. Often, the less competent one usually makes a loud noise like he knows everything. While the most knowledgeable person usually just keeps finding ways to better himself.
I won't say it's a must for a founder to be business competent but then it would be a lot better if he or she did. All they have to do is get someone who is business competent on their team who is business competent and I think that works too.
#contribution
okay! I'm not sure if I understand your POV, but I think I do. It isn't a must for a founder to be business competent, I mean, that's if he/she doesn't want to grow and improve. However, if a founder wants to grow and improve, it is a must to be business competent (just my opinion.)
I think putting it in context will help. As a founder that means you are competent at something but might not really be in business, the best thing to do is start working with someone who is business competent and from there you can grow. I see cases like this before, so never say since you are not business competent you can't be a founder
Yea, I kind of agree with your take on this, if the founder isn't competent in the business aspect, hiring someone who is would bridge that gap and enhance the progress of the project moving forward.
That's right, the founder is human after all not some AI or something. It's totally fine to hire someone better than him in that regards to work with and in the process of working with them he can as well learn from them
Hmm, I won’t say it’s a must also but as a founder which can also make you be seen as a leader, it is a must for you to be business competent, you can’t just leave all the hard work to your partner or workers every time, lead by example.
Well,I still go with what I said because I've seen several times when a founder is not good at something but has competent hands to fill in for his incompetence and with time he became competent because he seeked for help. He's a man not a robot, he can always learn on the job
Okay boss
Lol
Good morning Foxy
I agree with you, it's good for a founder to have a level of business competence and tthen get one or two people who are competent in business in the management team.
With the efforts of the team put together, the business will grow.
That's right, as a founder of something you'd definitely have a good knowledge of it normally so getting more people to work with will boost your capabilities even more.
I think it's actually a must for a founder to be competent in the business and trust me I am speaking from experience. Having someone in your team might not actually work out well most times but knowing about your business matters alot.
You're the founder so you surely know what you founded but going further, you can't know it all and when you have someone who is specialized on what you are not so good at, you as a founder will get to learn from them and get better from there.
But like I said, it's better if a founder is business competent
I actually wrote something about this sometime ago. Maybe I will share the link to you so you would read through
I think it's all about putting it into perspective though, there are some cases when it is a must you be business competent as a founder but there are other cases when it is fine to learn on the job
A real business has to be sustainable.
As a business founder, you need to know the purpose of starting up a business. Is it for making money, to help people, to travel, satisfy people? You need to consider these. So it will help you navigate your way to success.
A company is always about making money, it cannot lose. The focus on helping people has to be the main focus and the money comes in.
Every business founder must have this self esteem and confidence that sure, it's gonna work out well. This prepares him to be ready and on the lookout for ill signs and of course tackle them on time
Failure can be scary, especially if you're the type that pays much attention to criticism, you love to know what people say about you. For me failure isnt a bad thing, itshould be a step to successes. It will make you to be alert & cautious
When people fail, they learn from their mistakes, work on their mistakes and become better. That's the beauty of be it all.
That is the beauty!
The ability to rise again after failure is grace, and that is what matters
I agree with you, failure is scary, and nobody wants to fail no matter how little it may seem. If a founder isn't competent enough, he or she will experience failure. And yes failure might not seem that bad.
Failure sometimes is what is needed to be more vigilant and competent.
It is not bad at all🙂
Right momma
I have noticed that business founders and entrepreneurs who fail at first trial, restrategize and improve has had the chance to be very successful, doing great in their various businesses. Failure braces us up to be better entrepreneurs
Right! Failure is a good teacher. Of course, some people decapitalize on those failed attempts and it's a hard thing to overcome. Things like initiative, motivation and not having all your eggs in the same basket is what helps to try again.
Yeah, that should be the aim of a good founder or leader of a project, don't just give up or become embarrassed when you experience a failure in your project, failures are part of the methods in becoming successful, embrace it and strategized a new plan and execute. There is always a try and error and that should be part of your plans when building a project.
failures to teach us some lessons. I don't think it's bad to experience failure just that some give up on their dreams when they fail why some utilizes the opportunity to learn more and come back stronger which is the right thing to do
You're right, it's not bad to have failure. Many times you learn this way and gain experience. We should not give up on our dreams. We should always learn from our failures and become stronger.
Exactly. What you learn from that too. You have to learn from failures and not everybody knows how to deal with that. I guess that's something you learn over time.
It is never a bad experience to see failure in your project building, it should rather encourage you as a founder to work harder and put more effort into your project to make it a better and successful one. Failure is there to encourage us.
To check if a business founder is competence enough then they must have self confidence, financially oriented. Know about personal finance and understand financial literacy. This are so good for any business founder
I think self confidence is the main thing before starting a business. Because sometimes the revenue depends on the self confidence of a businessman. With a confidential mind, a businessman can maintain the best strategy about his business.
As I want to be an independent woman, I want to do business for growing my personal finances. As a result, I have some business ideas to start my business. But suggest me how can I prepare my investment plan from the beginning?
That's very important. You need to be prepared for a multitude of scenarios and also you need to understand more or less when you can expect to turn your business into a profitable one or, alternatively, when you can expect to raise some funds through investments or something like that. That would give you a rough idea of how much you need, how long you have and so on
Fear of failure won't let a business founder forge ahead. Failing in your business doesn't mean you are a failure but a stepping stone to success.
sometimes failure is necessary, it teaches people how to be strong and how not to give up, so failure in business doesn't not mean you are not business oriented. I totally
Fear of failure won't let a business founder forge ahead. Failing in your business doesn't mean you are a failure but a stepping stone to success.
Giveaway loading
I can't hear anymore, it's breaking.
What's the giveaway about please.
To a great extent, a founder needs a business competence. If you don't have business competence, you will barely understand how to make decisions that would affect your business positively or otherwise. That puts you ahead of competitors.
Running a giveaway . Yippee. I hope I am athletic enough. Hehe.
Giveaway coming
'applied' this is not just about nfts and crypto. So much takes on winning in business, any business at all, and generally life. Turning out to be one of my best space so far.
How much failure would require a person to stop?
Why are peeps getting booted from the Space?
I really don't know what's happening. I got booted and can't access the space anymore. Can someone please help draw their attention to this?