So you want to be an entrepreneur? But you don’t know what to do or how to start? You may have many questions and feel a little overwhelmed. Below are 7 steps to help you achieve entrepreneurial success.
To be a successful entrepreneur, you must have a passion for what you want to do, you need to also keep that passion alive.
This desire to grow not only as a business but as a person is a huge element for entrepreneurs and for businesses.
Learn what customers and consumers want, be in their shoes and imagine what you would want if you were them? What products would you want? What needs to be improved? How can this be improved?
Learning new things is how we grow, and expand, how we find out about our hobbies, and interests, and especially how we find out more about ourselves.
Knowing who you are, and what is important to you, and working on yourself daily will help if you are lacking ambition. Staying active daily, find those who you look up to and who are themselves following their dreams.
Even if you daydream about something that you would like to do or become, it is a great way to start. Set goals (see step 3 about goals and keeping habits) and explore new things.
More importantly, don’t be afraid to ask for help. As Leonardo da Vinci once said, “Learning never exhausts the mind”.
Learn to Evolve
As you progress, you will need to learn how to evolve. Evolution is key for entrepreneurial success. You need to learn to evolve through different trends, what is a current want or need from consumers?
Keeping to old ways, you will never grow, gather new and different experiences and knowledge, or either be able to see things from another angle.
Read books on becoming an entrepreneur or entrepreneurship. Here is a great article on books to read: 20 Entrepreneurship Books to Read This Year.
If reading isn’t for you, there are many documentaries, movies, and videos that are helpful. With these, you will see what other entrepreneurs have done, their experiences, and also their mistakes.
Now, let’s talk about mistakes, remember we all make mistakes, this is how we as human beings grow, learn and evolve. You learn from them and evolve from the experiences. Be aware to own up to these mistakes early on. Then, find a way to resolve them and make notes on how to not repeat them in the future.
Set Goals and Keep Habits
To become a successful Entrepreneur, you will need to have great organising skills and make daily habits.
Today, we are lucky to have a digital world where we can list, and track our goals and habits, by using apps, such as; Habitica (A fun, gaming way to track habits). But finding out what works for you, with working through tasks and goals, at first, maybe a struggle.
Different people, different habits
- Some people work better in the mornings, and others may need a coffee to stimulate themselves.
- In other cases, there are people who work better in the evening or at night. Another factor to take in is how you better absorb information.
- Some people are visual learners, others learn by listening and writing. For some, buying a planner and a calendar is more helpful than planning on a phone or a computer.
Whichever way works for you, try to put into action your goals. Focus on what you want to achieve in 6 months or a year. Imagine it. Where do you see yourself in, let’s say, 8 months?
Have I achieved what I wanted to do in that time? Am I happy with the results? Have I managed to achieve what I wanted to achieve at this time?
Your goals are never-ending. Whether they are big goals or small ones. What matters most is how much time you put into them. What is more important is to focus more on those long-term goals, rather than the small goals. Of course, goals are goals. No matter how big or small.
But it is best to focus on the important things and focus less on the not-so-important things (they can always be done later).
Learning how to delegate, prioritise, allocate and build daily habits to do these given tasks, is very important for entrepreneurial success.
Knowing, in the beginning, how to manage your time well, definitely plays a huge role in the success and building of a business.
Setting both long and short-term goals all contribute to a larger aspect.
When you have completed these goals, it will reward you mentally and give you a great feeling of achievement, thus will want you to complete more goals at your set time.
Creating a Team
Starting up a business and creating a team is one of the hardest steps to becoming an entrepreneur.
It may be hard to find and hire those you trust. If you know people with whom you have either worked in the past or have similar interests, then this is a great start! As the trust has already been formed.
Depending on what business you are starting, hiring people to be part of your team can be very demanding.
You will need not only to know about their work background, their ethics, skills, strengths, and weaknesses.
You also need to know, how you and this particular, possible employee would, not only, work together, but how this employee will also work with the other employees.
This should be in the back of your mind when interviewing and reviewing their resumes. Don’t only hire people who are very closely matched to you and how you work. It may seem ideal to do so, but sooner or later it will clash with other skills and areas that you, as a person, lack.
Hire people who balance your weaknesses, who may come from different parts of the world, and who may have different education and work paths. These people will help fill those blank areas that we have, and yes we all have them, and there should be no shame in that.
Encourage a Strong and Supportive Team
Entrepreneurial success is no solo job. When forming your team, you need to make sure to share goals, create deadlines, and assign tasks to those who seem fit to complete them.
Create a place where they can connect to you, and other employees, and focus on your team and them as individuals.
Show that you care, make it easy for them to come to you, and schedule time for regular meetings and training.
Don’t overwhelm them by giving them too much to do with so little time. Give them structured work hours, breaks, training, and some work/life balance.
Having a strong and supportive team is the foundation of being an entrepreneur. You’re not completely alone working, creating, and developing your business and your products.
Finding and Developing Your Product
This is the main step as an entrepreneur, and it will be something that you will do very often. Research what’s trending and create ideas for your business based on these. For example, if your business is about health and fitness, research and find out what people are liking, using, and like about these products, what needs to be better, and what don’t they like about it.
Based on your idea on what you can sell better to the reviews and experiences from the customers. Or, create something different, the choice is yours in achieving entrepreneurial success.
When you have your product idea, draft and gather ideas from your team about what this product could be; what can it do better? The material of the product? Etc.
Make prototypes and test the product, to ensure that there are no flaws and that it is working as it should be.
Sell Your Product and Gather Feedback
Make sure that the product you are selling meets the needs of consumers and also your business plan.
Keep in mind, whether this is a or will be a ‘fad’ (very popular for a period of time and is often temporary) or a ‘trend’ (long-lasting, subject to further changes and development over time).
Being aware at the beginning, if the product will or were to be a fad or a trend is very important to know, to be aware and track the sales.
Keep a report of the sales, what is working, is this a seasonal product? Does this product have multiple uses? Who is this product mostly for? What demographic is this product b? How are people liking this product?
Achieving entrepreneurial success is no easy feat, but with these steps, we hope you are now closer to bringing your business ideas to life.
If you want to learn more about being an entrepreneur and as well as entrepreneurship, be sure to read What Customer Experience Analyst Means for Entrepreneurs.