Without entrepreneurs, the world would grind to a halt. Imagine life without Richard Branson, The Body Shop, or Dyson vacuum cleaners. Most of us are familiar with well-known entrepreneurs, but not all of us want to walk in their footsteps. The truth is, starting a business from scratch is stressful and the chances of success are low. But don’t let this discourage you from becoming an entrepreneur!
It may not be easy to turn a good idea into a marketable business, but plenty of people do make a success of their start-up business ventures. Here are a few simple tips to help ensure all of your hard work is not in vain.
Do Your Research
Many entrepreneurs turn their passion for something into a thriving business. Passion is good. The more you are passionate about an idea, the more likely you are to keep slogging away when the going gets tough. However, passion will only take you so far, so spend time researching who your target audience is and whether your idea is a viable one.
Be Your Own Brand
In the beginning, you and your business are an unknown quantity. In order to build trust, you need to build a recognisable brand. The best way to do this is to become active online, attend trade conferences, and reach out to other people in your niche. Remember: everything you post online is a reflection of your brand, so keep it professional at all times.
Use Existing Resources
There are an awful lot of resources available to budding entrepreneurs, so make use of them. If you are a recent graduate, use your university library and other campus facilities. Check out what’s available in your local area – the government’s Business Gateway scheme is a good place to start.
Network like Mad
Networking is an excellent way to build contacts and valuable business relationships. Join LinkedIn and other social media platforms and connect with people from university and beyond. Use these preliminary links to build other connections and in time you will have a useful network of contacts.
Every time you meet someone in the course of your business, add them to your social media contacts list and touch base as often as is appropriate. The contacts you make today could land you a valuable new customer a few months down the line.
Be Prepared to Work Like Crazy
There is no getting away from the fact that starting a business is hard work. In the early days, you must be willing to work long hours for very little reward. Passion will only take you so far in life and in business. In reality, there are a hundred and one less glamorous tasks to be completed if you want your business to be a success.
Start Now!
Anyone can start a business; there is no cut-off age for entrepreneurs. However, life has a habit of getting in the way and once kids and family responsibilities come along, it will be a lot harder to devote the necessary time and resources to a start-up. So if you are footloose and fancy free, what are you waiting for?
Do your research and be willing to work your socks off and you too could be one of the next generation of entrepreneurial success stories. You never know until you try!
