Entrepreneurs with Ideas and Innovation should seek strategic partnership to make their dream a reality. A trend I have personally researched is that Entrepreneurs are very unwilling or scared to open up their Innovation for strategic partnership (not anyhow partnership). The era of sole ownership of Ideas and Innovation is in the past, You will be under-archieving if you try to do it all on your own. your Innovation needs resource power from business oriented minds to thrive and develop. Most blue chip companies today are built on partnership and cooperation with competitors and rivals in the same Industry. On a sleek side, Entrepreneurs should be less rigid but be very smart with your idea, don't let would be partner steal your idea and effectively push you aside. Don't just work hard, be smart.
The idea of SME is not always to remain a small or medium scale enterprise. The question here is hinged on the tenets of outgrowing this status quo.
This is a very good point to discuss.you see there is no business that hasn't been established, the difference in business we have is the fact that one is legally registered while another is not. non the less they all make profit to some extents. making your own unique is what matters,depending on the busines you do,what I think will make yours different from the others is the packaging,mode of reaching your customer. Also ANALYSIS and making of market strategy matters. picking the class of customer base you want to satisfy also brings about the uniqueness in business there for yields profit. This is a little I know and i am glad6sharing with you people . Thank you.
Young Business Leaders of Nigeria