Starting a business is one of the best decisions one makes in their lifetime. Whether the business works or fails, the idea of being able to start out is always fulfilling and considered noble because it means you are able to challenge yourself. Research shows that most entrepreneurs who fail more than ones in their various business pursuits always last longest in business and grow into millionaires with time. So do not fear the challenges, instead, prepare adequately for the challenges while seeking to re-invent yourself whenever a challenge sets you back.
Lessons for beginners
The number one lesson whenever you decide to take the entrepreneurship journey is designing a plan. Without a plan, you will end up settling for anything. To avoid such a poor start, design a business plan in your note book or just a simple piece of paper. This will enable you view the idea better and even ensure you do not forget anything. Some of the factors to include in the plan are; an attractive business name, a realistic vision or target, your target customers, the entry strategies, how to compete favorably and finally, your projected initial investment. All these will boost your levels of preparedness for the take-off learn here Jason Hope.
After laying down the plan or even starting the business, you have to tell people about your brand; to popularize it for people to associate with it. This is referred to as marketing. In today’s world, marketing has become comparatively cheaper, thanks to the social media. According to a 2013 research, there are over 1.5billion people actively engaging in social media. Imagine how much publicity you may receive through such platforms. Start by reaching out to your family and friends before seeking new customers. Other marketing ideas include: giving brochures, branding your car, using posters and even by word of mouth.
Develop a brand and fire at every opportunity
Have you ever wondered why some companies like Coca Cola and Nike succeed? They both designed products that stand out and then they keep re-designing them so that people can never get tired of them. As you begin your entrepreneurship journey, focus on making your product unique and keep re-designing or re-inventing it. In case there are functions or workshops around your home, visit along with your product and introduce it to people and where possible carry some free samples for them to try. Eventually, ask for their opinions about the product. This should however be done with caution to prevent huge losses.
Entrepreneurship is a skill that can be developed depending on one’s determination. It is also based on your ability to creatively think and come up with a product that offers a solution to the societal needs. As an entrepreneur, you are your own manager, accountant and marketer, for these reasons, you should play each role effectively and in case you are finding it difficult, you can always seek motivation through business books, other successful entrepreneurs and other online resources. You can also consider joining an entrepreneurial school to learn more about the skill.