Young Entrepreneurs - Assignment Example

BadarAlmhietef Prof. L. Newhook Writing 1120 Young Entrepreneurs March 31, Many young individuals have dreams to make their own businesses as soon as possible. They try to find themselves business individuals. Some of them find what they need and they help themselves, but others cannot and they thing many times for the world and what individuals need. Many youth create something new for the world and for the future. Evans Wadongoone of them who has dream and he wants to achieve his dream to help himself, help the earth and help poor communities.

Evans Wadongo is a Kenyan engineer aged 26 years; he has been at the helm of several projects in Kenya, one among them being solar power projects. He is described as one of the brightest mind in the emerging markets in the power industry in Kenya. With the persistent power problems in his country, he has been the driving force to developing new and economical ways to cut down on the cost of power. His latest project in the solar-powered (LED) lantern has been described by many as the greatest innovation in recent time to cushion those who cannot afford the electricity.

This project also aimed at providing light to school going children from poor families who could not stand the smoke of the local kerosene lamp The idea of developing the solar-powered lantern was originally presented by Wadongo at a local congress of young innovative youth’s forum in Kenya and was picked as a promising one with the potential to solve the problem in their communities. Wadongo did a lot of his research on the design and the sizes that most suited the targeted population.

Through his various attempt to design the sustainable product that would not only last for long, but also provide a cleaner source of energy, he came up with something that has been appreciated worldwide. His bright idea that only started in a small village in Kenya has been recognized worldwide in various forums. According to the locals, Wadongo’s project is one that has helped more children go back to their schools and the impact being felt almost immediately. The performances have increased in most schools that have adopted the use of the solar-powered lantern.

According to Wadongo, his project has not reached its peak yet with several additions intended to be made. He wants to extend the scheme to cover more areas in the country, and the same time sells his solar tapped power to major towns. He said that “this approach will work best for him due to the frequent power blackouts experienced in those towns’’. His idea was driven by the fact that 90% of the country’s power is generated from hydropower stations and the need for other reliable means of power generation was needed.

According to Wadongo, the current power rates in the country are very high, and the consumers will welcome any form of cushioning. With the rates currently at Ksh 75 per Kw unit, he intends to produce up to a total of 1000 Kw for different premises. To achieve his dream, Wadongo has partnered with some organizations to aid him with the supply of solar panels at a good price. The solar panels mainly coming from China are the backbone of his mega project to light up the nation. This is a good business for him with expected monthly profit of up to $ 1,000,000.

Through this project, an estimated 200,000 young people will get employed at various stages and will make monthly earnings of up to $ 1,500. Currently, he has rolled out the lantern project to towns and makes good earnings with a monthly profit of about $ 180,000. Wadongo’s project is envisioned by many business analysts as a potential economic booster in the long run, with the ability to absorb more people and create employment. He has already built a foundation to what is considered the most ambitious economic plan in a long time in the country.

Wadongo’s story explains the need for motivation for young entrepreneurs. Young entrepreneurs are prone to making mistakes that arise due to lack of experience and guidance. The failures of a young entrepreneurs project to succeed often crush the spirit of the young entrepreneur, and the lack of guidance by the closest family and friends makes the young entrepreneurs doubt their ability to succeed.Despite all the inexperience that comes with age, the young entrepreneurs have the opportunity to take higher risks because they have time on their side.

Such risks include investing in stocks of high risks and waiting up until ten years before selling the stocks. Besides, the young age enables the entrepreneurs to recover from the failure of their projects, a time constraint that their older counterparts do not have.Moreover, it is necessary for the young entrepreneurs to withhold all their financial safety nets before they venture in any entrepreneurial role. The desperation that comes with failure by entrepreneurs enables the strong entrepreneurs to succeed (Arrillaga-Andreessen, 12).

These safety nets include the monthly savings and the savings. Aspiring young entrepreneurs need to reevaluate their priorities. Many young entrepreneurs have a couple of ideas in their minds, and rush into executing them all at once. The young entrepreneurs should be taught on how to develop an insight on the ranking of the important issues in their plans. This includes connection with the family and friends, who play a big role in advising the young entrepreneurs. In conclusion, parents have to help their children who think they will give a good idea to the earth or the world.

Worthy individuals have to support young individuals; they have to sustain them to find good jobs or to give them some money to start their own jobs. This acts an incentive to promote the young people to take up the entrepreneurship roles. To cap it all, young entrepreneurs need motivation, moral support, and mental capability to execute their entrepreneurship ideas.Works CitedArrillaga-Andreessen, L. Giving 2.0: Transform your giving and our world. San Francisco: Jossey-Bass.,2012. Print