A person who sets up a business or businesses, taking on financial risks in the hope of profit.
When you search the term ‘top tips for entrepreneur’ on Google you’ll get about 4.3million results. That’s a lot of top tips and probably a lot of conflicting advice that you really don’t have time for, so, this week I’ve compiled my top tips to keep you inspired.
Learn from your mistakes – We’re all only human so occasionally we’re going to make mistakes. It is so important to reflect on any mistake and evaluate what you could’ve done differently; you have to make mistakes to move forward. If you don’t learn from the mistakes that you and others have made then you’ll find yourself in the same position again.
Persistence is key – A no now doesn’t necessarily mean it will be a no in the future. Securing contracts and deals takes time and planning especially with larger retailers. You have to keep trying as giving up isn’t an option for an entrepreneur and remember giving a customer or buyer a quick call every now and again can be the best way of keeping you in their mind.
Don’t run a business for the sake of running a business – In 2016, there were 5.5 million private sector businesses in the UK, up by 97,000 or 2% since 2015. Since 2000, the number of businesses in the UK has increased each year, by 3% on average, but that doesn’t mean that everyone is made to run a business. Remember running a business is just like a puppy, it’s not just for Christmas, it required hard work, late nights, early mornings and persistence.
Know your market – Keep yourself up to date with what is going on in your industry or sector. It is easy to become too focused and engrossed in your own business that you don’t see what others are doing around you, having tunnel vision won’t help you, make sure you take a step back and view the bigger picture.
Always have a plan – You might not have a 1 month plan let alone a 5 year plan, but writing lists of what you need to do is super helpful. I find that physically putting pen to paper and writing a list is much better than a typed list because there is nothing more satisfying than being able to cross off something once it’s done. I try to have a to do list for the week and then write one for the day as well, having a daily list helps to break down the longer list of things to do into manageable chunks.
Learn the value proposition of your business – Ask yourself and your team questions such as Why does my customer need my product? What extra value do I offer over my competitors? Asking questions like this will help you successfully evaluate your business.
Build your audience – By building your audience you are building brand awareness. I found that it is best to start compiling a list of key influencers in your market, by targeting these people who are already using products like yours then you are much more likely to be reaching the correct audience. So, for example with my company Creative Nature we target nutritionists, nutrition/health bloggers and celebrities who are into fitness and healthy eating.
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