Becoming an Entrepreneur
- Feb 9, 2018
- 3 min read
Hi, Welcome to my blog! I am actually nervous about writing on a large platform with so many people reading my post, but I am also excited because I get to do what I love(writing). My blog is called the Entrepreneurial Guide which is basically learning how to become a successful entrepreneur, how to navigate online platforms in order to build your brand, as well as discovering your niche in the entrepreneurial world.
I recently did a course in entrepreneurship because I thought, what the heck this could be useful for when I start my business. So, the first time I started a business it crashed after three months, it's a hard fact to face as a student needing another source of income. However, I bounce back some years later with the help of some useful tips I learnt from successful entrepreneurs and of course my entrepreneurship course.
Entrepreneurship has vastly grown over the years. Many people have left their jobs because of a bright idea they have and today they are successfully their own boss with the right tools.
5 tips to know before starting your own business
Deciding to be your own boss is no easy feat -it takes courage, patience and hard work. Here are some tips I learnt before starting my business:
1.Research You may say why? But it is very important that you gather information about the type of business/industry you want to venture in, the legal requirements needed, resources such as financial aid(loan, savings,etc), most critical you need to know your target audience and how you are going to reach them. This quote from W.Edwards Deming sums it up-"Without data you're just another person with an opinion."
2.Do a business plan
Never underestimate the power of a good business plan. This is your map to success because with a great idea and a plan on how to execute it, you can accomplish so much in a short time. Your plan must include these essentials: executive summary, market and industry analysis, strategic plan, management plan and financial considerations. (more on how to write a business plan on to come)
3.Less is More
An important lesson I have learnt in life is that small things can create big effects. Many people shy away from starting small but it is one of the most effective way to grow into a larger, wider sphere. Whether it is one product or service you have, with just a small group of people involved be patient because it will multiply in time.
4.Build Your Online Presence
Become tech-savvy by sharing your idea(s) online to friends, family and others. Start building your brand online and get people talking about the product/ service you have to offer. Get yourself out there! More and more you will reach a wider variety of people on various platforms and so business begins to boom.
5.Take the leap
This is by far the most encouraging words I have heard in my life. "You already have the idea, the plan but what's stopping you from executing?" my mentor asked me one day. Well, I know what you all are thinking- maybe my idea is not good enough? or, I am not ready yet but mostly we all fear failing and this is what entrepreneurship is all about, taking that leap of faith even when you feel like you are going to fail. You would be surprised how that turns around to be your best decision ever made. Becoming your own boss is a risk worth taking but take the leap first.
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