Entrepreneur means, the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits.
Wantrepreneur means, a person who thinks about being an entrepreneur or starting a business but never gets started.
It seems like everyone is calling themselves an entrepreneur these days, chasing the glory and status of being the next big success story. The truth of the matter is, there are hundreds and thousands of aspiring entrepreneurs who think they have a winning idea but never manage to put it into action and go on to growing a successful business. I call these people are “wantrepreneurs”
Are you struggling to start a Business?
Then you have to read this……
passion, action and sacrifice, if you have these three qualities then think about entrepreneurship and start reading these Fundamentals for business success.
Now, you want to go into business, you have a product or service to sell . . .
I would strongly advice that you go into a business that you love, a business that you enjoy. A business that you know something about or that you are good at. If you don’t know of your business or if you not enjoy your line of business, your customers will sooner or later discover this and disappear.
Acquire the necessary skills you need to understand your line of business. Gain the experience then you can be very effective and productive in a business you understand. It will surely help if you enjoy it, but you must understand something about it. If you just need to do the right things at the right time. I have discovered that many business people suffer because of lack of knowledge.
It’s actually very easy for business to excel and increase their sales. All it takes is for business to understand and implement certain things to enhance their business. You need to start doing some things you have probably been neglecting. I will explain these things to you in this article . . .
Prepare proper business plan, this is your plan of action and it should be revised yearly. So is your target and monitor this every fortnight but also you should be flexible that you might need some changes as time goes as per the situation. You must be willing to change when necessary.
Set suitable and realistic goals which is achievable. Have total confidence in your ability, work passionately and confidently, “All things are possible to he(she) who believes?”, This is very true about business.
Determine what time of business and my advice you to narrow your focus and specialize in a particular specific product or service rather don’t be a jack-of-all-trades.
Make sure that you project your company to the customers in a right manner. Take expert advice to prepare all your trade stationery designs (business cards, brochures, flyers, adverts, posters, website, etc.), to get attention of customers first impression is very vital.
Advertising/Marketing is very important to your business. Potential customers have to know that you exist. They have to be able to reach you. To be successful in business . . . you must do some form of advertising or marketing. Put aside money for advertisement.
Be determined and stay focused. You probably have invested all or a substantial amount of your money in your business. It can be very difficult owning your own business initially, but it’s worth it. You realize you have to work more, you worry more and you push yourself harder. It’s really very challenging.
Things can get really stressful sometimes that you almost want to give up. You start regretting leaving your employed job. Your determination has to come in here. No one can guarantee your success in business, except you, but utilizing the advice. Like I mentioned earlier, it helps if you love the business you are into. You generally have an easier time getting through your initial start-up problems when you enjoy what you do. Be motivated. You can make it. One very important step in improving your business is your reading this business enhancement article. Information is power! I would say that having the humility to keep finding opportunities to learn is one of the most important attributes in life that will not only be useful when creating a business but is also a tool of tremendous value in every other area of your life.
Your business should have an effective accounting and record keeping plan. Have a well-planned book keeping system. Keep sales records, proper employee records, tax records, business agreement records etc. There are several good accounting softwares available in the market and get an accountant to review your records from time to time.
Monitor how effective or ineffective your adverts are. Don’t waste money and time running an advert that doesn’t work. Your business needs an efficient customer service plan. You will lose your customers if you don’t treat them right. It’s very difficult to repair a damaged image. With all the competition out there, word of mouth still remains the most powerful form of advertisement . . . so don’t spoil your reputation.
Treat every customer like your most important customer, and they will not only come back, they will recommend you to others. Get your staff to be polite and friendly.
If you make your presentation to enough people, you’ll find a buyer. The problem with most people seems to be in making contact – getting their sales presentation seen by, read by, or heard by enough people. Selling is challenging. In selling, we all begin at the same point, and have the same finish line as the goal . . . a successful sale.
It demands the utmost of your creativity and innovative thinking. The more success you want, and the more dedicated you are to achieving your goals, the more you’ll sell.” Patience must be applied here.
Your customers are the priority. However, too many business owners underestimate the value of having a great team of employees. Your team is your front line of defense, no matter what type of business you open. These three fundamentals are crucial and as a business owner you should check these three before appointing your staff.
1. Communication: He/She should have strong verbal and written communication skills. The ability to communicate is non-negotiable. You cannot succeed in our profession if you fail to have strong verbal and written communication skills. In the written arena, mastering spelling and grammar is the start.
2. Self-Discipline: Self-discipline is crucial. The timeframe to write requirements is continually under siege, so we need to work both smarter and harder. This means eliminating distractions and focusing on activities that directly relate to the requirements product. Self-discipline also means having an internal schedule and resisting the temptation to inflate self-ability and underestimate effort. Experience helps in this regard, but humility can also assist.
3. Ownership: Taking ownership is about taking initiative. Taking ownership involves self-discipline as noted above. Taking ownership is also about accountability. Ownership means taking the viewpoint that any failures in understanding start with the communicator, not the communication recipient.
These are just three quick hits to point out that fundamentals matter. Are there other key fundamentals? Yes, the items that I share are based on the patterns that I have observed. I encourage you as a reader to respond and express your viewpoint.
Someone once said that business is only about two things; satisfying customers and making a profit. This is a true statement. So, organize your business! Keep at it and try out the ideas as we discussed above. Remember, “You cannot fail . . . unless you quit!”
We are all human beings, some days we are entrepreneurs, some days wantrepreneurs; it is the average of our options that will decide where we stand. And being an entrepreneur means, quite often, to be disciplined and do what we deeply know it’s the best for us, even though it might not be the easiest.
I don’t know about you, but I have a gut feeling that you are about to meet two new people in your life whose names are Success and Riches. As you start a new business, I wish that failure is behind you, success is in front of you and luck is by your side. Good luck for your new business.
TO BE SUCCESSFUL IN BUSINESS, FIRST, YOU MUST BE IN BUSINESS.