The world is changing, the entrepreneur revolution is moving forward faster and with more clout. Technology especially cyber space has opened up the world; we can now trade with anybody almost anywhere. In times past we had to queue up at the library to access information, statistics and relevant data, now this is an issue of the past. The world is the oyster of the savvy entrepreneur due to access to unparalleled amount of information, to help make informed choices and better decisions.
Quite often a lot of us jump at the first ‘eureka moment’ without taking the necessary steps to ensure we achieve our business objectives. If you want to be a successful entrepreneur, there are many things to consider and do to ensure everything doesn’t go pear-shaped after start-up.
By following the tips below in addition to advice and support from reputable business consultants, you should be on the way to turning your entrepreneurial endeavours into success.
Look Through the Magnifying Glass
It is very easy to justify a good idea, especially if you choose to look through your entrepreneurial eyes alone. There is more to the success of a business than just a good idea. The need for research cannot be overestimated. Research will determine if you should go into business or not, it proves if your products will be accepted in the market place or expire in a warehouse. So before you place your first order for 1000 pieces of that ‘revolutionary product’ – test the market.
Don’t Jump Ship Just Yet
Even though your boss might be getting on your nerves, do not give up your day job just yet. If you need more time for your business, consider changing your working hours if possible. If you can get a part-time job, take it as this might afford you more time for your new venture. It takes time to get any business off the ground; experts quote six months to a year. A lot of planning, research and preparation are required before the big launch. As bills will still need to paid during the pre start-up, it is wise to maintain some form of financial stability while you allow your business idea to develop and grow.
Be Peculiar, Find your Niche
You probably have heard this tip over a thousand times and how important it is to find your niche. Yes, it is a very important prerequisite to starting in business. Remember there are many businesses out there selling the same or similar products, giving customers a wider range of choice. Many of them are even bigger and better with a lot of funds for marketing and promotion to back their products. To be true to your business, you need to find your niche and let your customers know you are the expert in your chosen industry.
Don’t Be Shy, Shout Out Loud
As a newbie in the entrepreneurial field, you are like a drop in the ocean and no one may notice you if you don’t strive to be noticed. If you are confident of your business idea, then let everyone you come across know about it. It is also a great way to test the acceptance of your product in the marketplace. Engage people, ask questions, get feedback and use all this information to improve your business and products. Get in touch with competitors if you can, to find out about the industry you want to engage in. Learn from them as they are valuable resources for your business growth.
There is a wealth of information out there to help you turn your business into a successful one. Be flexible with your approach to entrepreneurship. Some things work first time whilst some things need to be constantly reviewed until you find the right answer. Like Oliver Wendell Holmes rightly said A man’s mind, once stretched by a new idea, never goes back to its original dimensions.
So if you have got the entrepreneurial bug, don’t ignore it… rather enhance it.