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The 4 Routes to Entrepreneurial Success

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Author:           John B. Miner

Publisher:        Barret-Koehler

Reviewer:        Goke Ilesanmi

Professor John B. Miner, the author of this book entitled “The 4 Entrepreneurial Routes to Success” is a writer, speaker and consultant specialising in entrepreneurship and human-resource management. He has been a professor at the University of Oregon, Maryland, and GeorgiaState, and the State University of New York at Buffalo where he was director of the Centre for Entrepreneurial Leadership.

In this text, Miner details four personality types that characterise successful entrepreneurs, then shows you how to use this information to map out your own path towards success. Based on over 20 years of research and a systematic seven-year study of 100 entrepreneurs, this book details the distinctive characteristics of each type and explains why they succeed or fail.

This book therefore discusses the four types of entrepreneurs, the route that each must take to be successful, and how to use this information to assess yourself or others. Miner asserts that if you are an entrepreneur, he would help you recognise these entrepreneurial personalities in yourself and then show you how to use this knowledge to succeed. He identifies these four types of entrepreneurs as the personal achiever; the supersalesperson; the real manager; and the expert idea generator.

According to Miner, personal achievers are classic entrepreneurs, bringing tremendous energy to their performance, and they like to plan, including setting goals for future achievements. Miner adds that they have a lot of initiative and a strong commitment to their organisations. Personal achievers, according to this author, believe that they control their lives through their own actions rather than being controlled by circumstances. Miner adds that personal achievers are most likely to succeed if they pursue the achieving route by constantly putting out fires and dealing with crises.

As regards the supersalespeople, this consultant reflects that these possess a great deal of feeling for other people and want to help in any way possible. This author adds that supersalespeople use a soft-sell approach, and receive sales from their customers’ desire to give something back, stressing that relationships are very important to them and they like social situations and groups. Miner submits that these people consider selling to be essential to their companies. This author says to succeed as entrepreneurs, supersalespeople need to use the selling route by spending as much time as possible selling and getting someone else to manage the business.

As far as real managers are concerned, Miner says these people like to take charge, and they do well in corporate leadership positions. He adds that they are competitive, decisive and positively disposed to those with authority, stressing that they enjoy power and acting a part. Miner says as entrepreneurs, they frequently become effective marketers, partly by managing the marketing process but often by being good salespeople. He stresses that their ideal path to success is the managing route, which is by finding or starting a business large enough to need their managerial talents.

The expert idea generators, according to this author, invent new products, find new niches, develop new processes, and generally find a way to out-think the competition. These are innovators in the true entrepreneurial sense, and are strongly drawn to the world of ideas. Miner reflects that yet, these people can get carried away by their enthusiasm and fail to take sufficiently- calculated risks; and to mitigate the risks of unwarranted enthusiasm, a degree of cautiousness helps here. According to this consultant, these people’s ideal route to entrepreneurial success is the idea generating route, which is to think their way through situations, to be visionaries for their firms.

Structurally, this book is segmented into 13 chapters. Chapter one is entitled “The personal achiever entrepreneur”. According to Miner, “Personal achievers are the classic entrepreneurs, the people we usually picture when thinking about an entrepreneur.” On what makes a personal achiever unique, this author says personal achievers possess seven interconnected characteristics, all directly related to entrepreneurial success. He identifies the characteristics of personal achievers as the need to achieve; desire to feedback; desire to plan and set goals; strong personal initiative; strong personal commitment to their organisation; belief that one person can make a difference; and belief that work should be guided by personal goals, not those of others.

Chapter two is based on how personal achievers succeed or fail. Miner says the achieving route requires the personal achievers to energetic, learn, plan, be flexible and be problem- solvers. To be successful, this author reflects that personal achievers must avoid the traps of the achieving route.

In chapters three to eight, Miner examines concepts such as the supersalesperson entrepreneur; how supersalespeople succeed or fail; the real manager entrepreneur; how real managers succeed or fail; the expert idea generator entrepreneur; and how expert idea generators succeed or fail.

Chapter nine of this book is entitled “When more than one pattern is prominent: the complex entrepreneur”. According to this author, “Possessing multiple entrepreneurial patterns, and thus having potential to follow more than one route, gives a major advantage to an entrepreneur. People with two strong patterns have an advantage over those with only one. People with three strong patterns have an even greater advantage.”

In chapters ten to 13, Miner analytically X-rays concepts such as assessing entrepreneurial talent: Your own and others’; whether or not women possess different patterns and follow different routes; educating for entrepreneurship; and the issue of what happens when there is lack of any strong research on entrepreneurship.

Conceptually, this text is innovative. On style, this book is really a success. There is logical presentation of his ideas, embroidered with free-flow of language. To ensure practical participation and application of the tips by the readers, Miner includes the self-assessment form. This author also employs a lot of detailed analyses and illustrations,and uses graphics for visual reinforcement of understanding.

However, the word “Four” should have been used in place of “4”, a unit, in the book title.

If you are an aspiring or an existing entrepreneur, this easy-to-read and practical book can help you achieve the desired success you have dreamt of in life.

GOKE ILESANMI (FIIM, FIMC, CMC), CEO of Gokmar Communication Consulting, is an International Platinum Columnist, Professional Public Speaker, Career Mgt Coach and Certified Mgt Consultant. He is also a Book Reviewer, Biographer and Editorial Consultant.

Tel: 08056030424; 08055068773; 08187499425

Email: [email protected]

Website: www.gokeilesanmi.com.ng

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At London meeting, FIRS Chairman calls for capacity building among CATA members

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President of the Commonwealth Association of Tax Administrators (CATA) and chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has called for increased capacity building to enhance tax administration processes among members of the global body.

Adedeji, according to a statement by his Special Adviser on Media, Dare Adekanmbi, made the call on Wednesday in his remarks at the opening of CATA management meeting held at Marlborough House, Pall Mall, London.

He explained that expanding the capacity of tax personnel of CATA member countries would empower them to deal with the challenges that have negatively impacted the tax administration landscape globally.

The management meeting had in attendance tax administrators from the United Kingdom (His Majesty Revenue and Custom), Canada, Australia, Malaysia, Barbados, Papua New Guinea, Ghana, Lesotho, Maldives, Uganda, Mauritius, Nigeria and others.

The CATA president, who also called for further adoption of technology in improving tax processes, however noted that rapid advancement in tax technology presents both opportunities and threats.

“Furthermore, the rapid advancement in tax technology and digitisation has presented both opportunities and challenges for tax administrators worldwide.

“The discussions surrounding pillars one and two of the Organisation for Economic Cooperation and Development (OECD) have the potential to redefine international tax rules.

“Additionally, the landmark tax convention resolution at the United Nations (UN) Assembly has underscored the importance of international cooperation and inclusivity of all in addressing tax challenges.

“In light of these developments, it has become increasingly evident that the need for improved and more comprehensive capacity building for CATA members is paramount.

“It is imperative that we equip ourselves with the knowledge and skills necessary to understand these evolving discussions and contribute to the formulation of transparent and beneficial rules for our respective jurisdictions.

“Moreover, we must be prepared to effectively implement these rules once they are concluded, in order to ensure their successful integration into our tax administration frameworks and maximise the benefit they will bring,” he said.

OECD pillars one and two deal with how to expand tax revenue annually based on the profit thresholds of companies that do not operate physically in countries but make sales from such countries through digital platforms or other means.

The CATA president commended the management committee and members who have agreed to host the body’s programmes in 2024, describing such commitment as a testament of the devotion to the success of the association’s strategic plan.

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Minister urges stakeholders to unite in advancing frontiers of N’Delta devt

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Minister of State, Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has called on Governors and Ministers from the Niger Delta region, as well as government agencies, International Oil Companies (IOCs), development partners and other critical stakeholders to join hands with the Niger Delta Development Commission (NDDC) in fast-tracking  the development of the region.

Ekpo made the call in a speech delivered at the 6th Meeting of the National Council on Niger Delta (NCND), with the theme: “Stimulating Strategies for Economic Growth and Development in the Niger Delta Region,” held yesterday at Unity Hall, Government House Complex, Asaba, Delta State.

A statement by Ekpo’s spokesperson, Louis Ibah, quoted the Minister as lauding the management of NDDC for projects executed so far to boost infrastructure and human capital development in the region.

Ekpo however said working unilaterally without inputs from other critical stakeholders had its limitations for the NDDC in the formulation of policies and projects for the region.

He said, “The Niger Delta region has what it takes to develop this country and the region, but we have to be formidable in whatever we are doing. The NDDC is just a small entity that is crafted for the Niger Delta region, all of us should bring in inputs into whatsoever they are doing, we should come in and contribute, we should come in and say this is what we want. So, I call on stakeholders in the region to come down and sit with the NDDC and marshal out what needs to be done to move this region and our nation forward.”

According to the Gas Minister,  ”When the NDDC acts on its own, they will only do what they believe they should do, and to the level that they think they should do it, but when we come together with them, we can fashion out something more important and sustainable for the region.”

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BDCs committed to checkmating attack on the Naira – ABCON boss

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The President, Association of Bureau De Change operators of Nigeria (ABCON), Aminu Gwadabe, says the BDC operators are committed to wading off attacks on the Naira by speculators.

Gwadabe said this in an interview with journalists on Wednesday in Abuja.

According to him, ABCON, as a self-regulatory body, has platforms to check excesses of BDC operators.

“We have inaugurated state chapters whereby we can have a data repository of participants in the forex market.

“This is for the Financial Action Task Force (FATF) to understand this market and to know the participants, give them a simple registration,” he said.

Gwadebe said that what the foreign exchange market needed was a kind of harmonisation; a centralisation and KYC to know all participants in the business.

“This will enable the CBN to track other players in the market other than the BDCs and their levels of involvement.

“The BDCS are collaborating with the regulatory authorities for physical verification of offices using technology.

“We want to balance international obligations with our own objectives. International obligations are templates that have been built without our input.

“We are coming with our own template to balance it. We have seen some illegal economic behaviour, and the CBN and the security agencies are aware, and I am sure they will nip it in the bud,” he said.

He said that the recent wave of depreciation of the Naira was of concern to the BDCs operators.

“I am happy that the authorities, and even the BDCs as operators, have identified the peer-to-peer (P2P) platform.

“The P2P is a platform like the Binance, where speculators use the dollar to buy USDT, a stablecoin that is pegged at one to the dollar.

“As long as Binance and such other platforms continue to be profitable, the Naira will continue to depreciate.

“There are many of them in the system. Binance has been nipped in the bud, but there are still many. They are online platforms with no registration, no restrictions,” he said.

Gwadabe said that the CBN and the security agencies were already aware of the antics of the platforms.

According to him, they are more of an illegal economic behaviour, and the people behind them have no patriotism in them.

“People have turned dollars to be an asset; to be a commodity of trade that is why those platforms continue to thrive.

“We have seen where people are buying dollars into their domiciliary accounts to finance these schemes.

“A lot of millions of dollars are going out from the system. It is one USD to one USDT. The market can be liquid.

“Binance alone has four billion dollars liquidity and more than two million transactions.

“Most of them source money to finance their transactions from the open market, and that is one of the reasons why Naira is depreciating,” he said.

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