So , 8 out of 10 people nowadays want to start their own business. I am not surprised. Every individual has his/her vision and some set of explicit skills. It is always a wise choice to showcase your talent and skills in your way. No harm in it. Think in this way, your company, your ideas, your vision, your own product, your current faith. If you blend your own personal vision with hard work & determination, no one can stop you in making your idea a reality. But , always ask yourself “Am I going to add any tangible value to other’s life or company with my vision/product? ” If the answer is “Yes”, go for it.
Entrepreneurship is not a fancy journey. You have to wear multiple hats at the beginning. A founder, a sales guy, a brand builder, a smart recruiter, an accounts expert as well as at times a failure. There is a difference between a failure and a quitter. This is a point which makes the difference. But indeed, the most important skill every successful entrepreneur carry is belief. Self-belief, belief in your product, believe in your team. At the end, believing in the fact that, you are here to triumph.
Anyone, before starting a business, does a ton of research. Research on the market, customers, trends, competitors, strategies, enterprise models etc . There are many who read a lot. It’s always recommended to read articles, case studies, success stories as well as failure stories. You must know what to do and what not to do. People experiment things initially. You have to try things to know what works for you better. However to be honest, 80% of the start-ups fail in the first year. They quit. But , the rest 20% makes it to the top. Why? Because they know what they should do and how to do. When you understand & decode the trick to reach your customers with a magical product, You have arrived. In this article, I am going to discuss few things, which every early-stage founder should keep in his or her mind before beginning the ride of entrepreneurship or within the first 6 months of incorporation.
A trusted brand, not just another product
There are basically two sorts of entrepreneurs. One who wants to make a name for himself/herself, another who wants to make a title for his or her brand. Relatively, it is easy to build a product and sell it. However if you really want to be a long-running horse, you have to build a brand name, which others can rely on. You can make money anytime. Nevertheless it is important to make your customers come back for another purchase and refer it to their friends. This is the best marketing trick. Many successful businesses admitted that they make at least 70% of their business from repeat clients. Let your consumers know how can your item add value, how can it change the method they do things, how can this save their time and also cost. Be a good story-teller. Build a good audience who will admire your personal product.
Never back out through taking bold decisions
This is one of the most important points. When you start a business, you invest a lot of money & time. It is obvious that you would like to keep a track on every penny spent. But , don’t pay more time for thinking, rather than implementing. If you are not going to execute plans, someone else will do his. And you will be one day behind of your competition. Never afraid to fail. Even if it won’t work, you will learn along with can add one point to your individual “not in order to do” list. In today’s’ fast-shifting organization environment, you can never get an additional chance to react. Be daring, take a risk. Who knows it might be your day. It takes one smart move to click & lead. It is always better to make decisions, rather than waiting for something to happen.