How to overcome the struggles of building a profitable and scalable business
My entrepreneurial journey, my struggles and transformation into smart entrepreneur
Over 12 years ago, I was a student in the university in a foreign country with an aspiration to become a medical doctor but no financial support or backbone. It was like going to war with no weapon. I had no idea how to survive let alone pay for my huge university degree. My parents were pensioners back in my home country Nigeria while I was in England. No body to help, as I had no financial support in a foreign land.
I was a mere teenager with big dream in foreign nation with no money. I lacked confidence to even get a job to work for 20 hours a week, which was what my student visa status permitted me. It was a struggle to make any money, which meant that I had to rely on my elder sister for upkeep until I get a job. I was embarrassed to even go out with my classmates on an outing because I had no money to buy anything. It was really a nightmare for me. I was frustrated as well as freaking out on a daily basis, I had to deal with cold weather, as well as ask myself where the job will come from. I was only hoping that a miracle would happen (also rooted in my religious belief in good fortune).
One faithful day in the winter of 2004, I was in college when I was called out of the classroom to go to the bursar’s office and was told that I would have to withdraw from my medical course due to my outstanding fees. That moment was one of the lowest points in my life. It was like my dream of becoming a medical doctor varnished. I cried hard on my train to London from Leicester, as I was even embarrassed to tell my friends what happened. Upon my arrival in London, I decided I needed to find a job quickly and possibly go back to school after a year of working. My first job was a cleaning job, I would wake up as early as 4am in the cold to do my janitorial job and then in the evening as well. I had worked really hard for 2 months only for me to realize that the supervisor who absconded with my money did not pay me. I was really sad about this. My struggle continued for another few months as I struggle to get any paid job that will help me to save up to go back to school. Every single day, I was checking the daily newspapers looking for jobs, going to everywhere I can around London to get a job. Fortunately, I saw a newspaper advert on private tuition teaching Mathematics and English. I immediately contact the tutor pretending to be a potential student and he then told me the fee which was £10-£20 per hour which was far more than the minimum wage jobs I was looking for. I said to myself, I could do this, which was the start of my entrepreneurship journey. I decided to get a job as well as work part time on my tuition business in order to see if it will work. I got a job as well as started my tuition business by announcing it to friends and families. Then I distributed flyers everywhere I could to get my first sets of clients. I later added a catalogue business to my tutoring business and was making a very good and steady income which gave me the ability to pay for my university education alongside a jon in a foreign nation and was still able to send money back home.
I started developing a very strong appetite to acquire knowledge on how to develop myself and master the art of building a profitable business. I discovered needed several skills as a business owner. I was chasing the shining objects, I ventured into network marketing, ecommerce (eBay and amazon), tutoring and consulting etc. I had few successful business but majority of them were failures… That will be a story for another day. I realized that to be successful, I needed a niche that I can become an expert in. this became a huge problem for me. My other thriving struggling, as I could not scale them and my focus were changing because of following all the gurus buying their courses, I applied what they taught but there was something missing and I couldn’t hack their same results.
I discovered that my biggest desire was to scale my business, which then became an obstacle. I tried to acquire more customers while I was trading time for money. Yet, I tried to do everything by myself from website designs, graphic designs, email copy writing, marketing and all technical stuff etc. I was burning out…my cash flow was drying up. I tried everything I could to acquire more customers but this made me broke as I tried paid advertisement such as newspaper ads, Google pay per click (PPC), SEO and Facebook ads. One day, I saw a huge bill from my advertisement, all my savings gone and I became BROKE, as I had to shut down all my business, pay my debts and go under the radar for a long time. I became depressed and thoughts of giving up on my dreams began to fill my mind.
I later discovered that I had been focusing on the wrong things, which were what led to my burning out, struggles and failure. I then discovered that I needed a mentor to help me build the right systems and team to build the right business that is scalable and profitable. My mentors showed me the deep secrets of a scalable and profitable business. I mastered the following;
· How to design the framework my business.
· The art of product creation
· How to identify my ideal customers as well as attract them to my product and service offers.
· Building your Formidable Team
· The art of customer acquisition, which helped me to attract high paying who are ready to pay for my offer and started building positive relationship with them.
· How to scale my business into 6 figures and beyond.
This opened my eyes and I could see why my previous business ventures crashed and failed BIG TIME.
Now I have now mastered how to build profitable and scalable businesses online by leveraging technologies and the talent of others as well as building a system that will make me high income. I have discovered that I cannot re invent the wheels. Also I have mastered how to attract huge traffic of new customers into my businesses both online and offline in different niche markets. I now have several successful businesses and still building more. This has now made me to become more confident and successful in life. I am now helping other entrepreneurs and businesses to grow profitable businesses that they can easily scale with my knowledge and skills.
PS: Please share your entrepreneurial journey and struggles. I will love to hear your story to inspire others.