Saturday, June 22, 2024

Problem Solving Vs Profit Making

An average African wants to start up a business to make profit. 1 of 10 would only tell you how passionate they are about solving that problem in the society.

It’s really not bad to want to make profit but value drops when that’s the main aim. What does this even mean?

Firstly, the reason why a lot of businesses fold up is because of the focus on profit and when the struggle becomes real, and profits don’t show, entrepreneurs give up which can be really depressing. And then, you start to hear of merging and acquisition (which is rampant these days).

Secondly, the value that rides from a business chasing after solving problems cannot be compared to one borne out of completely making profit. Truth is, the entrepreneur chasing after solving a problem never stops until the problem is solved while the entrepreneur on the other hand (because it’s so easy to pack off and start another one), can just give up when the desired profit isn’t up.

The best thing for any Entrepreneur, is to choose to solve a problem over making profit. That’s what makes you a CEO and not a ‘businessperson’.

Abayomi Adeola (Della)

Abayomi Adeola Della is a Law Student in Obafemi Awolowo University. Author of two books, Entrepreneur, Business strategist/analyst, Leader and Blogger. She's passionate about business building and economic growth. Her best food is beans.

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