How You Can Take The First Steps Into Becoming An Entrepreneur
April 24, 2018
– a person who sets up a business or businesses, taking on financial risks in the hope of profit.
One of the biggest achievements a person can make is by taking the plunge and becoming a business owner. Many people shy away from the idea because of the financial risk that they are posing to themselves. While this is normally an unavoidable part of becoming an entrepreneur, it shouldn’t be the reason that you stop yourself from taking the first steps into bettering yourself and creating your own legacy. Take it from someone who was quite happy in her regular 9-5 job. I loved it because I didn’t have any responsibility and I was guaranteed my pay check at the end of each month. However, once I began blogging and had some success from it I decided to take the plunge and start up my own business. Since then, I’ve never looked back and I want to share with you how you can take your first steps into becoming an entrepreneur. It’s not as far out of reach as you might think!
The first thing that you need to do is figure out what kind of business you’re going to be running. Think about what it is that you’d like to sell. Once you have this on paper and confirmed, you can begin to think about who your product is going to be aimed at. As great it would be to be able to appeal to absolutely everyone, it’s impossible to do so. The sooner you can figure out who your target audience is, the sooner you can begin moulding your product(s) around them. So, first on your check list is to pin point what you’re going to be selling.
Personally, my business is run around my ability to write, so all I needed to do was set myself up with niches and make sure that I’m as clued up as possible about them. Once I was able to do that, I could move on to the next step.
Figure Out What Your First Steps Needs To Be To Set Yourself Up
So you now know what you’re going to be selling. Do you have the means right now to begin creating these products ready for sale? A successful entrepreneur will not go into business without something ready to put on sale. Make sure that you’ve got this so that if you’re lucky enough to hit it off well with customers, that you’ve got something to sell to them.
Again with me, it was my skills with writing and my ability to be able to offer content placement to my customers. I already had my blog set up, so I was lucky enough to be able to jump straight into it!
Use Social Media To Test Your Ideas Before Spending Any Money
Product testing is most definitely something that you should be doing before investing any further into your business. Social media is a fantastic way of recruiting honest and easy product testers. Many bloggers are more than willing to test a product and give honest reviews on their blogs in exchange for keeping the product. Not only will you have feedback that will be useful in developing your products, but you will also have a form of promotion already there for when you do decide to release yourself as an entrepreneur.
I was lucky enough to have already experienced feedback from clients that had approached me before I decided to switch to self employed. Since then however, I have brought out new products for my customers and I did need to gather opinions and tweak things before they were perfect.
Work Out Your Finances
Once you’ve got to the stage where you know that your product will sell, you need to work out how much it’s going to cost you to get yourself going, and hire out a business premises if needed. As soon as you have the figure that you need, you can then approach business loan lenders so that you can truly get started with your new enterprise. Don’t forget to include every expense like equipment, any members of staff you’ll be employing, stock, supplier charges, and even how much it’s going to cost you to run your business each day. This way you can make sure you’re getting enough money to keep your business afloat while you’re waiting for profits to roll in.
Establish Clients And Customers Beforehand
Very much alike gaining product testers, it’s important to hype your business up before actually opening so that the day your doors open you have some interest. Inviting people to your launch day will spread the word faster than you think, and you can enjoy the relationships you’ve already established coming through your doors as well as new and intrigued potential customers.
Use these tips to get yourself started if you’re thinking of taking the plunge and becoming an entrepreneur! It’s more than possible for anyone to do it, and the benefits that you can reap from being a business owner definitely outweigh the fear of failure!