5 Important Step Steps Every Entrepreneur Should Take

Building a sustainable venture is a decision an entrepreneur has to make alone, experts say. According to them, no one was born with all the business potential, but the ability to develop required traits is a step in the right direction.

They say starting a business is a move to achieve financial freedom therefore, entrepreneurs should let go of everything that entangles them to the past and take that bold step to be independent. 

Successful business people say entrepreneurs need not to wait until they have a huge capital base because many great businesses today actually started from their homes with little capital. They advise business owners to start small and grow the venture gradually. 

According to them, there may be doubts that may limit the ability to develop the right skills and business ideas that you wish to pursue. In spite of this, there are examples of successful people who overcome their doubts; therefore, there is nothing stopping you from doing the same, they say.

According to Robert Baron, entrepreneurs are people who take action by engaging in vigorous and persistent efforts to convert their ideas and visions into profitable operating companies. Therefore, they have highlight the traits that entrepreneurs need to possess in order to start successfully run their businesses. 

Have a business focus: Experts say focus is the key to building a successful venture. Successful business managers have testified to the effectiveness of focusing in business. A business consultant, Mr. Akinola Oyediran, says being able to focus implies that the entrepreneur direct all business operations towards achieving set goals, either long-term or short-term. He says it could also involve defining a product type or a service delivery that is unique thereby creating a niche for the business in the market. 

He advise entrepreneurs to build good and lasting relationship, and do everything in their power to help clients get the results they promised. 

Be confident: In order to attract clients and investors into business, experts says business managers need to know the worth of their businesses. They say their ability to communicate this convincingly to prospects will lead to massive influx of different business proposals.

However, Oyediran advise that when other businesses start to show interest in partnering, entrepreneurs have to be careful in taking decision so as not to lose focus of their primary objectives. On the other hand, he says taking up the opportunities investors has to offer is a means of diversifying and expanding the venture into other horizons. 

He says people who have confidence are able to put in extra efforts to develop their venture. On the other hand, he says people without confidence shy away from marketing opportunities and their venture may remain dormant as a result.

Oyediran says, ‘’Do away with your inadequacies and rather focus on your strengths and make them better. You need to constantly remind yourself of the good qualities you possess. 

Be known as an expert: Business advisors say being known as an expert is another style of prospecting for new business, however, it is in the reverse. They say instead of finding new and qualified people to sell to, these people will seek you out for your expertise, the more the selling and referral opportunities. 

In consultancy, which involves solving problems for other businesses, Oyediran says experts have to be developed. He says, ‘’ Businesses can only consult with you if only they are convinced that you have more accurate information and can render assistance, therefore professionalism is important. 

Build your character: According to experts, having the right character and personality will make entrepreneurs rise quickly in the midst of competition and challenges. They say the drive to succeed is important because you need to encourage yourself to do more when faced with obstacles, and this will propel you forward with time from being a start-up to a well-established business owner.

According to them, when successful entrepreneurs identify an opportunity, they pursue it with vigour, they are immersed in the business day-in day-out, risking both capital and time; they are driven to succeed and are probably more afraid of failure than anything else. 

Therefore, to achieve success quickly, they advise that people should have passion for the business they intend to venture into. 

According to them, a powerful sense of passion and interest in the work will drive excellent performance. In addition, they say being resilient will enable them to overcome challenges and bounce back when faced with setbacks, because entrepreneurship is associated with ups and downs. 

Moreover, when people talk about successful people, they forget that they had failed in so many things before; therefore, they advise entrepreneurs to keep working at what they are doing. 

Show competence: To be effective, professional competence is vital. Oyediran says incompetence can be factor in losing many opportunities, because clients need to trust your proficiency. As a business owner, he says you need to prove yourself as being capable of executing a business deals. He says the starting point to attain high patronage is to develop competence. 

To achieve this, he advise start-ups to determine what aspects of their job are most important and then make the decision to become very good in those areas.

He says, ‘’Get training in those areas where you feel you are less competence. You must be perceived as being very competent ta what you do. That perception alone will bring you to the attention of more people faster than you can imagine. It does not mean that you have to know everything that relates to your business; rather, know what to do and how to do get it done.
Next Post Previous Post
No Comment
Add Comment
comment url