How to become an entrepreneur - tips and strategies

The definition of an entrepreneur is simply put a person who starts their own business, doing everything from coming up with the idea to launching it while taking risks in the hope of making a profit.

If you are asking yourself, how can I be a successful entrepreneur? Here are some tips and strategies for success.


  1. Find the right business for you.


Find a gap in the market and something that you believe adds value, if it is something that you are interested in and will enjoy working with it will feel less like work. Even better if  you have some previous knowledge or if you experienced a problem firsthand that you are aiming to solve with your business idea. Helping others that might experience the same problem can create a good story for your product that you can share with your target audience.

As the cofounder of the successful business Airbnb once said:

"If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life." -Brian Chesky, Co-founder of Airbnb

 
 


  1. Make a business plan


The most successful entrepreneurs are the ones that wrote their business plan within 6-12 months after they came up with their idea. There are many steps to creating a business plan and it can at times become overwhelming for some. Don’t worry, most entrepreneurs feel that way, but a business plan is essential for a successful business. If you remain organized in every step of the way it will be easier, today it has become much simpler creating a business plan, find a template to follow and create a schedule. If you have a physical product and are not sure where to start, selling your products online can be a good and efficient way to begin, you can use the Redux e-commerce app to get you up and running in no time.


  1. Find your target group


Once you have your business idea and plan you should start thinking about your target group. Knowing to whom and when to market your product or service is a vital step. Having a sharp focus and obtaining data on your audience are two key steps towards identifying your target group.


  1. Networking



Networking is important for entrepreneurs, both to connect with people with knowledge and skills you could use in your business and to find potential investors. A good network can also help you once your business is up and running for example guiding new customers towards you. If you are not sure how to network you could start by checking out events near you such as workshops or lectures, often you can find free events to attend via Facebook or other sites.  


  1. Marketing


Now it is time to get your product or service out there, you need to convince people why they need your product or service. Marketing should be a focus during the whole process, but it can be tricky and today there are many ways to get the word out there about your company. Today, via the internet, everyone can become a global entrepreneur which requires having a good website. But not everyone has the knowledge and skill to create their own website, you can use the website builder from Redux to help you create your own. It’s an affordable solution for small and medium businesses and easy to use.


    6. Bonus tip, balance!


Remember to do something other than work, hang out with your friends and family and try to stay active, a balance in life can be key to long term success.


Stay tuned for our blog next week which talks more about work life balance.


Sources:  


https://www.forbes.com/sites/alejandrocremades/2018/07/24/how-to-create-a-business-plan/#598cee3c7391

https://www.forbes.com/sites/chuckcohn/2015/02/06/steps-to-identify-your-target-market/#701549c8229d

https://www.learnhowtobecome.org/entrepreneur/


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