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Assessing past endeavour

By Omiko Awa   |   05 March 2017   |   1:12 am

students. PHOTO: bellanaija.com

As one begins another academic session this year, it would be proper to reflect on the activities of the previous year, to find out if one should continue or jettison his/her entrepreneurial ideas and squarely face one’s primary assignment in the campus.

Though, acquiring entrepreneurial skills has its own challenges and prices to pay; putting these skills into practice is key.

However, before quitting one must appraise past endeavours, to know reasons for failing or while the business has to be continued. To do this, one has to leverage on the SWOT (Strength, Weakness, Opportunity and Threat) analysis. This will enable one fashion a sustainable means of combining business and academic without allowing one to suffer at the expense of the other. It would enable one to take the best advantage of one’s talent(s) and opportunities.

Strengths
Talks about the advantages one has over others in doing what he/she is doing. It includes one’s uniqueness; those virtues that would make people see you as the first choice in anything. Look at your strengths from what people say of you; how friends or clients view you and how you see yourself.


Incase you have some difficulties identifying these, get a sheet of paper and begin to list those characters of yours people openly identify or you have, but have not showcased them. Think about your gifting(s) in relation to your competitors.

If you are the only one producing a particular item, then let those you consider as enemies do the telling. Fly with their views, those unpleasant comments about you, because they tell whom you are. Their comments are more real than those you consider as friends.

Weaknesses
This deals on things you could improve on; things you could avoid, including attitudes. Those things people see as your soft spot that are hindering your advancement. You have to be realistic when looking at this. Being realistic would help bring out the best in you; make you excel in life.

Opportunities
This is taking advantage of the opportunities around you; capitalising on situations and trends to increase your sales or demand for your services. This could come in form of changes in technology, crisis in campus, changes in school authority policy, events/festivals such as Val, changes in social patterns and others. One thing most people do not know is that when you create opportunities for others, more will open for you. So, always have the mind to create one and the eye to see any available around.

Threats
This has to do with the obstacles one faces as a student. These challenges may be inform of not having time to run your business, friends discouragement, bad debt or poor cash-flow and others.

If you could take your time to honestly apply this instrument, then allow the result you get to inform your decision(s). I am sure, if you apply this instrument properly, it will not only impact on your business endeavour, but also your academics.


In this article:
SWOT


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