THE BLUEPRINT OF ENTREPRENEURSHIP
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You may be interested in starting a business, but are unsure about where to start. A good start would be to read the last article, Self-Assessment for Entrepreneurship. After you answer those questions, you will be ready to make the next step.
If you don’t know where to start as an entrepreneur, don’t worry because you are not alone. What I was told by my parents all my life is a fact that many people are aware of, which is - If you discover something you love to do, you will never have to work a day in your life. For this reason, more people are creating and starting work they love. This work is usually designed to fit with their life goals. If you want to be your own boss, wait no longer and start now.
Here is a Blueprint of 8 Tips to Get You Started as an Entrepreneur:
1. Stand up and Step out.
Businesses start because of three reasons: 1) There’s a need, 2) An entrepreneur or customers are dissatisfied, or 3) Both of the aforementioned reasons. Many people spend years and some their entire lives working jobs they hate. If there is need and you are dissatisfied, you have to accept the fact that you can do something about it. Stop blaming the government, your job, your boss, your spouse, or your family. You have to stand up and step out as an entrepreneur.
2. Identify the Right Business Fit.
We all have heard and know that you can’t put a square peg in a round hole. The same applies to your business. You have to investigate different areas of yourself from your personality to your age to other social aspects. Then you must listen to your intuition without ignoring the facts. Discovering what makes you happy and what gives you energy when you are tired will help you find the right fit for you. You them must do three things: 1) Do what you know, 2) Do what others do, and 3) Solve a common problem.
3. Business Plan.
Many businesses are put together without a plan, but those that have a plan will do much better. A business plan provides clarity. It does have to be ten to twenty pages long. It can be one page describing your goals, strategies, and action steps to growing your business. Ask yourself the following questions:
-What am I building?
-Who will I serve?
-What am I promising to my customers or clients and to myself?
-What are my objectives, strategies, and action plans to accomplish my goals?
4. Know Your Target Audience.
Does it make any sense to spend any dollars on developing your product if you don’t know who will be your buyer? Before spending a lot of money, see if people are interested buying your product or services. Ask yourself these questions: 1) Who are my customers, 2) What is the size of my market, 3) Is your product or service relevant, and 4) Why do they need your product or service? These are all great questions that will help prepare you for success as an entrepreneur.
5. Understand the Conditions of Your Personal Finances
More than likely, you will be the first investor, if not the only investor when it comes to your business. So how you handle your personal finances directly affects how you handle your business financial affairs. You will need a detailed understanding of your personal finances, and the ability to explain your system of managing your personal money in order to secure investments for your business.
6. Establish a Support Network.
You should be committed to your business, but how do get others to invest or commit to your business. This commitment is more than money. You will need to develop a network of encouragers, supporters, advisors, partners, allies, and vendors. Others will believe in your business if you believe in your business. Seek to help others by connecting them with the right people. But helping others to get what they need, they will help you get what you need.
7. Add Value.
As an entrepreneur, one of your focuses should always be to add value to customers or clients. In other words, you should focus on serving others. The more people you serve will be directly correlated with how much money you make. To serve and add value to your customers or clients ask yourself the following questions: 1) What can I give of value to my customer or clients?, and 2) How can I make my customers or clients successful with their personal and professional pursuits?
8. Spread the Word.
If you don’t tell others about who you are and what you do, no one else will. Not only should you tell others about who you are and what you do, but also you should do it with passion and conviction. There are several ways to spread the word about your business. You definitely should use the multiple social media platforms that available these days, but no one should ever take for granted the importance of word-of-mouth marketing, website and internet marketing tools, blog posts, speaking, e-mails, articles, and any other way to spread the word about who you are.
If you take these steps to heart, you will be on your way to being an effective entrepreneur. If you feel stuck as an entrepreneur, reach out to other entrepreneurs.
Please do not hesitate to send me your comments, thoughts, and/or anything else you may want to know more of an in-depth about as we progress through the series. This series will also lend itself to a conference and working session in the near future with more details to come.
Please let me know if this is helpful or if I can help you in your process of becoming a better entrepreneur. Please leave a comment below or email me directly to share your thoughts.
Bryant
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