The Chief Executive Officer of Ebony Live TV, Ms. Mo Abudu has advised young entreprenuers to always remain focused on their goals.
Abudu, gave the advise on Tuesday when she featured on the Fidelity SME Forum on Inspiration FM, Lagos, that was moderated by the Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo.
According to the multi-talented Executive Producer, young entreprenuers must also have a plan of what they want to achieve, stressing that such plan must be realistic.
"It is important to look at Nigeria as it is today as a market and find those opportunities for what they can create within the reality of the market as it is today. I find often that the business ideas that the millenials have may not be grounded in reality of the times that we find ourselves in, and it is important that your ideas are grounded.
"That is the most important piece of advise I can give to any entreprenuer. You must make sure your ideas are grounded, make sure they are realistic and you must be able to execute them. Why are they going to switch to your channel? Why are they going to buy your product or your service? What makes you different? What makes you unique?
"Those are the things that any business person needs to identify, looking at the existing business opportunities in their area. What is it that you are coming up with? Is it art, music or fashion? All these exist. But what is going to make the difference is the added advantage you are bringing to the market and the extra value," she explained.
Abudu described the Fidelity SME forum as fantastic platform for young entreprenuers because it gives them the opportunity understand issues such as how to start their business.
"By speaking to those that have experienced life in business, learning from them and learning from their mistakes. Every business person, including myself, must have made mistakes which the young ones can learn and avoid.
"This forum helps us to understand the key principles that supports businesses. We all need to engage to be able to have an understanding of what is happening in business to succeed. That is why the Fidelity SME Forum is important," she added.
Okonkwo recently reiterated the bank's resolve to support operators in the entertainment industry. According to the Fidelity Bank boss, when Fidelity Bank decided to play in the SME, its management developed a strategy about how to add value to the sector.
“For about seven years now, our strategy has been to focus on segments. A lot of people get entertained by musicians, they see people in the movie industry and get entertained. But we as bankers, we look at the business components of what people do and how to transform those talents into business," he said.