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Follow These Tips for Avoiding Entrepreneur Mistakes

Oct 5, 2020

Nearly 22.5% of smaller businesses are known to fail during their first year of operation. That thought is staggering. You may be wondering, as a new entrepreneur, how you can avoid losing your business that quickly. How do you launch and successfully run a startup? There are actually many pitfalls when it comes to running a business, especially for first-time entrepreneurs. Avoiding entrepreneur mistakes takes guidance from digital entrepreneurs like Rafferty Pendery as well as top tips for entrepreneurs. You need to know how to start a business and keep it running efficiently.

Tip #1 Have a Business Plan

Do you have a business plan? All it takes is a basic plan to start. Failing to plan is one of the first mistakes most new entrepreneurs make. Without even the most basic plan in place, you are essentially planning to fail. It doesn’t matter how small your initial plan may be, either. It is necessary to try avoiding entrepreneur mistakes by mapping out a business plan. Keep in mind to include how much you anticipate selling products and services, how much it is going to cost to operate your business, and one of the most important aspects, who is going to purchase your products and services and why.

Tip #2 Don’t Fear Failure

Avoiding entrepreneur mistakes when learning how to succeed as a tech entrepreneur is part of the process. However, failure shouldn’t be feared. Look at failure as a key to success and fully acknowledge it and learn from it. How you respond after failure shows how capable you are of learning from your mistakes. Failure, in and of itself, is a great key to success that can point you in the right direction.

Tip #3 Know Your Target Audience and Market

Have you taken the time to fully understand your target audience and market? It is common for many startups to lose sight of this integral aspect. Avoiding entrepreneur mistakes includes knowing whether you’re on the right track or not. That means you need feedback from prospective and current customers. Building great products is only part of your success, not the entirety of it. The more you know about consumers and how they feel about your business, the better you will be able to market yourself.

Tip #4 Get and Stay Organized

Have you ever run a circus before? That’s pretty much what it feels like running a business without organization. The successful operation of a business means that you will have many things happening all at once. In order to keep track of tasks that need your attention the most, make a daily list. This is a piece of tech entrepreneur advice that goes a long way in helping you stay more productive.

Tip #5 Get the Support You Need

Yes, you may have started your small business on your own. However, you’re not alone and in order for your business to run efficiently, you need wise counsel. Avoiding entrepreneur mistakes includes seeking the advice of trustworthy advisors ready to discuss your strategy, business ideas, progress, and challenges. Great power and wisdom come with counsel. Use the savvy information from tech entrepreneurship blogs offered by Raffy Pendery to get started.

Surround Yourself with Mentors and Experts

Successful businesses are built from the ground up with support. It is imperative that you surround yourself with mentors and experts that can guide you when you need it the most. This type of support can help you avoid many pitfalls and mistakes that most entrepreneurs make. Make no mistake about it, mistakes are still going to be part of the process since they are inevitable. Just manage your expectations and don’t be afraid to fail. Learn from mistakes so you can pivot your business model when needed.

Ease Your Nerves with Top Tips for International Public Speaking

Sep 16, 2020

Per data provided by Kauffman, nearly 40% of aspiring entrepreneurs in the United States are women, and the number of businesses owned by women is growing at a significant rate that will double the number of businesses owned by men. All business owners share one thing in common whether they are men or women, they need to have the ability to speak in front of the masses whether nationally or internationally. As a business owner, you need to be prepared to speak in public. The more your business grows and is recognized, the more likely it is that you may be asked to speak internationally as a public speaker. People, clients, and consumers want to know the person behind the business. The best way to show them is through public speaking engagements.

You don’t have to be nervous just thinking about being an international speaker. There are tips and techniques you can learn so you become a superb international public speaker, even if you are speaking to groups of people that speak a different language, have various perspectives, and diverse cultural backgrounds. Sure, public speaking on an international level means you need finesse and special skills, but it is not impossible to learn those skills and fine-tune your public speaking abilities.

Become a Successful International Public Speaker Using Resources from Rafferty Pendery

Remember when you were learning how to start a business as an aspiring entrepreneur? You may not have envisioned the need to be able to speak in public as part of being successful. However, common entrepreneur mistakes include avoiding public speaking. There are many resources you can use from mentors and successful entrepreneurs such as Raffy Pendery. He has already helped many businesses all over the world with their social media, marketing, expansion strategies, and much more.

Tip #1 – Market Yourself as an International Public Speaker

Marketing is a top way to expand your business. Public speaking internationally gives you the opportunity to fully market yourself globally. Be sure to project confidence in order to market yourself with poise. The more you show confidence, the more likely you will feel it too. Own the room and respectfully command attention even when you feel terrified.

Tip #2 – Organize Your Thoughts

Before speaking in front of an international audience, make sure that your thoughts are organized, concise, and clear. This is especially important for an international public speaker. You want the information about your business, products, and services to flow seamlessly. In order for that to happen, you need to keep your thoughts in order so they make perfectly good sense to all.

Tip #3 – Find Out More About Your Audience

An international public speaker needs to know the demographic of an international audience. Find out as much as you can about the nationality of your audience before you speak. Every culture has its own ideas concerning proper communication. For example, some cultures welcome eye contact, while others may not. Even how you dress is an imperative factor. Speak with event organizers ahead of time to learn everything you can about the demographics of an audience before your speaking engagement.

Tip #4 – Rehearse Relentlessly

Have you ever had the dream where you are about to speak in front of a crowd and you are speechless? Completely avoid that fear by rehearsing. Practice every day so you become 100% comfortable with what you want to say and how you say it. It will become like second nature when you are ready to speak in front of an international crowd.

Tip #5 – Pay Attention

Even the best-prepared speeches can flounder if you are not paying attention to the audience. Watch how the audience is responding to you. Gauge whether you need to slow down, or even ask the audience questions to keep them engaged and participating. You don’t want to focus so much on giving a presentation as much as you need to convey the key message about your business.

4 Public Speaking Skills Every Entrepreneur Needs

Aug 11, 2020

Did you know that people who have a fear of public speaking make an average of 10% less than those who don’t? Well, if you’re a tech entrepreneur, you might not think that matters. However, a tech entrepreneur, or any entrepreneur for that matter, can lose money as well if they aren’t good public speakers. And, there is a certain set of public speaking skills that every entrepreneur should have. Here’s what they are and why it matters.

Offer Useful Information

Many tech entrepreneurs will inevitably find that public speaking is an important step to gain investors and customers. Offering your audience useful information, rather than a running advertisement for your business, is one of the most important skills. A prospective investor or customer wants to know how they can benefit from your product or company. Give them that useful information or entrepreneur tips in a clear and simple way that proves they want your product or services. Otherwise, they might just tune you out.

Ability to Shock

Sometimes it can be difficult to reach an audience, especially during a presentation. Rather than bore them with graphs and charts, do something different—something that no one will expect. Use music, visuals, personal stories, tips for entrepreneurs, or even entrepreneur mistakes you’ve made to get their attention. In fact, one study shows that an effective presentation is 55% nonverbal communication, 38% your voice, and only 7% your content.

Be Inspiring

It may seem like an obvious skill for any public speaker to possess, but you need to be inspiring in order to reach people. If you’re a tech entrepreneur, your audience may be inspired by your success and want to know how to replicate it. Tell your success story in a way that others can understand and can apply to their own situations.

Respect the Audience

No one wants to listen to or watch a long, drawn-out presentation. Be sure to respect your audience and keep your speech a reasonable length. You shouldn’t go on longer than your allotted time, and make sure to show up early enough to set up in advance. You’ll want to make clear at the beginning of your presentation what you will be covering. You will also need to allow time for questions and answers.

You might not realize the importance of public speaking if you’re an entrepreneur; however, if you ever need to give a presentation, keep these four simple skills in mind. You will be able to deliver your message more succinctly and possibly leave a lasting impression on your audience.

Why Most Business Startups Don’t Live Past Their First Year

Aug 7, 2020

An estimated 22.5% of small businesses do not go past their first year of operation. Why is the entrepreneurial journey quite difficult for first-time entrepreneurs?

Well, one of the most significant aspects of starting a business is having a plan and staying committed to it. For first-time entrepreneurs, it might not be an easy journey, but with resilience and the right knowledge, you will succeed. Below are some of the common entrepreneur mistakes you must avoid.

Lack of Proper Preparation

Even the best marathon runners the world has seen will attest to the fact that their race begins months before the actual competition. The same case will apply when starting a new venture. The first step before opening any business should be getting equipped with the requisite skills and entrepreneur tips.

Starting a business takes more than just money. Embrace focus, concentration, hard work, and dedication, the rest will be history. Consequently, you will need to seek tech entrepreneur advice from experts in the field.

Unreasonable Goals

Starting a business and setting goals go hand-in-hand. One of the common entrepreneur mistakes associated with startups is setting unrealistic goals. Although failure is sometimes inevitable, your businesses should not be failing all the time.

Your business goals must be realistic, attainable, and within reach. Develop a set of short-term and long-term goals, and they should be specific. First-time entrepreneurs can sometimes be carried away by the idea of aiming higher and forget about specific business short-term goals. Avoid impractical goals since they are likely to leave you with a sense of failure.

Little Knowledge about the Industry

Understanding your industry goes beyond the basic market research. Succeeding as a tech entrepreneur will need you to work in the tech industry for some time and learn the basics of the sector.

Assuming you know everything just because you have the resources is among the common entrepreneur mistakes you should avoid. If you have a great business idea, begin by getting a job in the sector or else you will be in for a rude shock. Being a successful tech entrepreneur is a long process, but each stage comes with new experiences that increase your knowledge in business.

Doing It All Yourself

Becoming a successful digital entrepreneur will take more than personal effort. When starting a business, there is the notion that no one can do the job better than you. For sure, no one understands your products better than you do, but doing it all by yourself may not work.

Besides being a recipe for burnout, this approach affects the progress of your new venture. Get a business mentor and let them guide you on the best practices for your new investment. Finding a business partner should, however, be approached with caution.

When the business is still new, the operations are minimal, and you have the energy to do them all. As time elapses, your startup grows, and the number of operations expands. In such instances, you must be ready to delegate some of your responsibilities as you focus on the management aspect of your business.

Doing Too Much At Once

The early stages of a business are filled with ambition, which can sometimes be misleading. While successful entrepreneurs are diverse and versatile, startups will need a different way of doing things. Focusing on many things at once is among the common entrepreneur mistakes you should avoid.

Figure out what you are best at and base your venture on it. It would be better to focus on a single aspect and grow than focus on many and fail in all.

Ignoring Relationship Building

One of the most common entrepreneur mistakes you are likely to make is ignoring your customer base and focusing on sales instead. While this approach will work for you, it will be a matter of time before customers start questioning your ways.

Take time and respond to individual customer queries, be it in social media or directly. After all, you are a tech entrepreneur, and the essence of communication cannot be emphasized enough.

Final Word

Mistakes are sometimes inevitable in the life of an entrepreneur. As a budding entrepreneur, never be afraid of failure as it is part of the process. Contact us today to learn more about startups and entrepreneurship.

Tips for Becoming an International Speaker

Jul 17, 2020

You may have started your own business or you may be considering becoming an entrepreneur, but one of the most common entrepreneur mistakes you can make is not being prepared for international speaking. Regardless if it is one of your long term goals for your business, you should consider dabbling in international speaking. Listed below are some tips for helping you become an international speaker.

Practice Public Speaking

One of the biggest tips for avoiding entrepreneur mistakes when it comes to international speaking is to practice public speaking. However, this aspect is often overlooked and can lead to the speaker developing speech anxiety after they have already traveled to their speaking location. Three out of four people experience speech anxiety. This is why it is important to practice public speaking before you make the jump to international speaking. Go to local events and speak locally. This will also help to build your rapport.

Learn From Other Speakers

While it is not always beneficial to compare yourself to your competition, studying the competition can provide you with much-needed education. Attending speaking events can help you to understand how the events play out. You can watch how the speaker interacts with the crowd. Perhaps their slideshow does not work effectively during the event and they come up with a solution on the spot. This quick solution may also save you at some point down the line. Bring a journal to these events and jot down any ideas you may have to help you when you become a paid international speaker.

Practice a Foreign Language

International speaking involves traveling to places you may have never been to before, as well as experiencing a culture that may be different from your own. Learning how to speak some basic words and phrases in another language can help you navigate your new location, as well as connect with more people. You may be more sought after for international speaking if you can speak somewhat fluently in the native language, as this would open up your audience pool. However, just knowing some basic phrases can show that you are interested in appealing to that audience and are dedicated to learning.

International speaking can feel like an overwhelming goal to have at times. While it is not for the faint of heart, it can be very beneficial for your business. Remember that practice makes perfect when it comes to public speaking.

How Do I Start a Business?

Jul 2, 2020

Starting a business is no simple feat and many entrepreneurs are born from trial and error, along with patience. However, there are some basics that many new entrepreneurs can start with when they are considering learning how to start a business. We will discuss common entrepreneur mistakes and tips for how to avoiding entrepreneur mistakes, as well as important things to consider.

Start with Your Interests

What are you genuinely interested in? When starting a business, uncovering your interests is often a great place to start. Finding what you are interested in can help you determine other interests you may have. This could lead you to discover unique avenues to take for your business that will still bring you satisfaction. It also helps to organize your priorities during this time. Perhaps, your business will not entirely pique your interest, but it satisfies many of your top priorities which will make it worth it to you in the long run. Learn about what you are willing to sacrifice and what you value along the way.

Speak with Others in Your Intended Field

Once you have settled into your area of expertise for your business, it is important to speak to others who have made a business out of it. These people may eventually be your competition, but it is important to gauge how they run their businesses. This may help you determine whether or not this path is the right one for you. Add these people to your network and ask them important questions when the time arises. For instance, you may want to ask them how they got to where they are today or if they would share their resume with you.

Always be Open to Learning

In the entire world, there are 582 million entrepreneurs. There will always be something new that you can learn, especially when it comes to learning how to start a business. New information and new experiences are put out every day, which can be valuable tools for education. Keep an open mind when going into new situations and be open to new ideas that may come from others.

These tips for entrepreneurs were created in order to help individuals navigate starting a new business. The creation of a new business can feel overwhelming, but taking it one step at a time is key.

How to Succeed as a Tech Entrepreneur

Jul 1, 2020

Entrepreneurship is not, by any means, an easy road to go down. However, it is one of the most rewarding. Successful entrepreneurship takes more than just dedication and patience, it takes know-how. Equipping yourself with tried and true tips of the trade can help you to learn how to succeed as a tech entrepreneur.

Network

One of the most important things you can do as an entrepreneur is to network and then network some more. You may hear the importance of networking everywhere you turn. However, it may be difficult to know how one should exactly go about it. There are actually many different ways that you can begin networking yourself. The first mode is to reach out to your friends and family. Let them know what it is that you do and what problems you solve. If they do not have an immediate need for your services, they may know of someone who does. You will also want to attend networking events or events that feature speakers. You may also want to look into being an international speaker yourself. These events may focus on one individual, but then allow a few hours for everyone at the event to converse. This is your time to stand out.

Build a Presence in the Community

Learning how to succeed as a tech entrepreneur will also involve knowing how to utilize your community. Many entrepreneurs overlook the needs of their local community. 69% of entrepreneurs will start their businesses from their home. This means that is important not to erase those who live locally from the bigger picture, although they might not be your intended end goal. Your local community can provide you with an invaluable foundation to build up from. Become a face in your community by attending local events, sponsoring fundraisers, or sharing local posts. This helps to put a face to the business.

Utilize Social Media

Common entrepreneur mistakes can sometimes center around the use of social media. It is not enough to just make social media profiles, as you also have to know how to properly use them. One of the first basic steps for the digital entrepreneur is to narrow in on your demographic. Who is it that will benefit from your services? Sometimes, it helps to jot down information about this potential customer. This can help you streamline your social media content and better target your intended audience.

Avoiding entrepreneur mistakes can seem like a daunting task and learning how to succeed as a tech entrepreneur may feel like an out of reach goal. While everyone will make mistakes along their journey, entrepreneurs are best known for learning from them quickly and making the necessary adjustments to secure success. These tips will help you to continue progressing as an entrepreneur.

What You Need to Remember to Be Successful as an Entrepreneur

Jun 8, 2020

There are as many as 15 million Americans that are full-time self-employed. Now more than ever it’s possible to have a career as an entrepreneur. Unfortunately, many people try and fail to make their entrepreneurial dreams a reality. It’s important to keep in mind a few key entrepreneur tips to increase your chances of success. Here’s what you need to remember to be a successful entrepreneur.

1. Don’t fear failure

Many people, including Raffy Pendery, have had failures when it comes to making their business a success. Bill Gates, one of the most successful tech entrepreneurs in the world, had his first business called Traf-O-Data fail before he was successful with Microsoft. Walt Disney started a business called Laugh-O-Gram that eventually went bankrupt in two years. The point here is that you’ll probably make a lot of mistakes when it comes to starting your entrepreneurial journey. Don’t be afraid to take calculated risks and try different ideas. If some of those ideas fail, learn what caused those failures, and use it to help make your business more successful in the future.

2. Be patient

As alluded to in the point on failures, success takes time. If you’re an entrepreneur starting a business as an international public speaker, you’re not going to be speaking to an arena full of people in your first speaking engagement. Similarly, if you’re trying to be a tech entrepreneur, you’re not going to create the next Google or Microsoft overnight. It’s important to be patient and work hard on a daily basis. It’s through persistence that entrepreneurs like Bill Gates and Raffy Pendery eventually became as successful as they are today.

3. Grow your knowledge

As an entrepreneur, you’re going to be doing a lot of the work when it comes to your business. While it’s helpful sometimes to hire someone to take care of complicated tasks, it’s also good to learn how to take care of them yourself. You can find online classes to take on subjects such as graphic design or bookkeeping. With the knowledge you gain, you might save money not having to hire someone to do those tasks for you. Raffy Pendery has also mentioned the importance of mentors. They’ve been on the path you’re on now, and can provide a wealth of knowledge that can help you avoid common entrepreneur mistakes.

The number of new entrepreneurs have continued to grow in the last few years. With the rise of the internet, there are more opportunities for people to succeed in starting their own business. Keeping all of these tips in mind can help you be more likely to succeed as an entrepreneur.

7 Pieces of Tech Entrepreneurship Advice to Grow Your Startup

Jun 5, 2020

Every year, there is a new bunch of entrepreneurs that join the tech space seeking to leave a mark in the industry. In fact, technology startups in the U.S. have grown 47% within the last decade. However, the rapidly shifting digital space makes the industry difficult to navigate. With that in mind, here are seven tips to guide you through your entrepreneurship journey and help you avoid common entrepreneur mistakes.

1. Drop the ‘Startup’ Name Tag

Your business can’t remain a startup forever. Set a goal to develop your ideas and mold them into a business quickly. 22.5% of small businesses fail within the first year. A study by CB Insights shows “no market need” as the leading cause of startup failure. Ensure your brilliant idea can be monetized with a firm plan on the critical aspects of the business.

2. Build a Diverse Team

Surround yourself with a team of tech experts with diverse education and professional backgrounds. Take time to choose a top team that understands your vision. You need employees who will offer invaluable tech entrepreneur advice to help you stay relevant in the market.

Overall, always be open to new ideas and be ready to listen to opposing ideas from your team members. They might have some insight you had not considered.

3. Work on Your Mindset

The median time for venture-capital-backed startups to reach IPOs is eight years, and five years for full acquisition. The entrepreneurship journey is not an easy feat, with lots of ups and downs. Through the emotional rollercoaster, you need to remain positive. Maintain confidence in the ideas and beliefs for your company. Learn from your entrepreneurship mistakes.

4. Conduct a Thorough Market Research

You’ll need to reach out to your target market fast. Drop the stealth act and talk to potential customers about your product or service. The earlier you learn about your market needs, the better you can pivot your business to serve the clients better.

5. Grow Your Network

Once you get immersed in the business world, it may be challenging to make time to network. However, a robust network of like-minded individuals may offer fantastic tech entrepreneur advice that may help in running your business. Get yourself a mentor. A senior with experience may help you learn the ropes much faster than heading out on your own. The network will also offer a sanity check on your ideas by providing an outside perspective of your business model.

6. Work on Your Communication Skills

Communication is a key ingredient to the success of any business. Learn to listen to your team keenly. Asking the right questions may help you get useful feedback for the running of your startup. Trust your team. Don’t micromanage. Effective communication may help smoothen the process as you interact and engage with others.

7. Take a Leap of Faith

The day-to-day running of your operations will demand that you make tough decisions for your business. Kick out your fear and take the plunge into the unchartered space. Seek out more information to help you make informed decisions. The road to success may not be smooth, but you have to believe in your vision for the company. At times, this includes taking a leap of faith into unchartered areas.

In Conclusion

The tech space continues to change with disruptive innovations coming up every day. Using these pieces of tech entrepreneur advice may help you move up the ladder to success. Raffy Pendery can guide you on how to succeed as a tech entrepreneur.

Digital Entrepreneurs Are Spearheading the Future of Business

Apr 6, 2020

Per data collected from Kauffman, in the United States nearly 40% of brand-new entrepreneurs are women, and the number of businesses owned by women continues to grow and double the rate of businesses owned by men. Are you interested in becoming a digital entrepreneur? Today, the digital entrepreneur can embark on a plethora of businesses all over the globe with the right marketing and sales in place. There is also plenty of room for expansion when it comes to utilizing online PR, social media and other marketing techniques.

How to Become the Digital Entrepreneur That Stands Out

An important part of becoming the digital entrepreneur that stands out is avoiding entrepreneur mistakes. The digital marketplace isn’t something that is going to miraculously make money for you while you sleep, although this is possible with the right marketing in place. There are common entrepreneur mistakes that you can avoid. The first is understanding how important it is to get the word out about your business. This is why an entrepreneurship blog is so significant. There is no magic formula, just diligence to study the market so you are targeting the right audience and future clients via your blog.

How to Become a Tech Entrepreneur

The digital entrepreneur that wants to succeed will need more than just a computer with internet access. Certain features need to be set in place that is vital to your success when it comes to standing out from the competition. Tools and knowledge constantly change. Are you prepared to change with them? Researching and studying are both vital assets to every business. This goes double for the digital entrepreneur. You need to know everything you can about the industry for your business and keep learning, don’t ever stop. This is your first step in learning how to start a business successfully.

You will need to study in order to fully support entrepreneurship growth. Everything you learn is used to balance your business when it comes to implementing changes. Read news concerning your market at least an hour a day. The more you spend time learning, the more your products and services will become specialized.

Create a Tech Entrepreneurship Blog

Do you know how to create a tech entrepreneurship blog? Most people have no idea where to start. That’s natural. Creating your own digital entrepreneurship is something that you should take seriously and endeavor to learn more about using tools offered by entrepreneurs who have preceded you. Top digital business owners are available for assistance. All you have to do is provide them with your email address to have newsletters directly sent to your inbox. Starting your own online business just got easier!

Clear up any confusion and learn the basics of blogging for entrepreneurs. Once you have your blog started you can enjoy the many advantages of managing your business from anyplace with internet access. Mobility is the key to digital entrepreneurship that allows you to stay on the go without missing a single step for your business. Enjoy more flexible hours that allow you to work as hard as you need to while conquering the challenges of a startup. Once you have made your mark, the work gets easier. You will be able to define your own schedule so you work during the most efficient hours for you. Break free from the rigid hours of a 9 to 5 job when you run your own digital business.

Do You See Your Digital Entrepreneurship Growing?

Who doesn’t want to see their business grow and reach millions of people globally? What does this mean for a new startup? You want to plan for scalability. Being able to grow your business on a larger scale can increase the volume of production and sales while maintaining a fixed cost. If you know that you want to grow in the future, you can set up your entrepreneur blog to reflect this. Online ventures are much easier to scale than a brick and mortar store.

7 Essential Steps on How to Start a Successful Business in 2020

Apr 4, 2020

The fact that 15 million people in America are self-employed shows that there is no limitation on who can become an excellent entrepreneur. You do not need a business degree or loads of money to become a great entrepreneur.

All the same, you will require a thought-out plan and an internal sense of motivation for your business to thrive. Are you still wondering how to start a business? The following guide will help you avoid common entrepreneur mistakes.

Identify a Business Idea

Coming up with a business idea is the most challenging task that many people face. It is one of the reasons why most people still have no idea on how to start a business. However, this is a mental barrier that you can get through if you sit down and evaluate yourself.

Before you identify a business idea, you need to ask yourself some questions:

Why are you starting a business?
What are your skills?
How much can you afford to spend?

When answering these questions, you have to be incredibly honest with yourself. That will help you create a strong foundation for your business by avoiding entrepreneur mistakes that can make you regret later.

Conduct Your Research

About 22.5% of small enterprises fail within a year. Poor research is one of the causes of such failure. If you already have a business idea, it is now time to balance it with reality. For a business to be successful, it must solve a problem or provide something that the market needs. Ask yourself whether your services are anticipated and who needs them. You can find this information online, from an entrepreneur blog, or through trial and error.

Make a Plan

To make your business idea a reality, you will need to come up with a plan. This is a blueprint that will direct your business from the start-up phase and will establish growth. A plan is a must-have for all the new companies.

Fortunately, there are many types of different plans. For instance, if you are considering finding financial help from an investor, a traditional business plan is recommendable. A simple one-page plan is suitable because it gives you clarity on what you wish to achieve and how you plan to do it.

Finance Your Business

If you are starting a small business, you will need some initial investment and the ability to cover the ongoing expenses before your business starts making a profit.

Analyze a spreadsheet that estimates the start-up cost for your business as well as your anticipated one-year expenses. The combination of the two numbers adds up to the total amount that you will require for your initial investment.

After having a precise number in mind, you can now fund your business through crowdfunding, financing, small business loans or small business grants.

Select a Business Structure

Your business can either be a partnership, sole proprietorship, or Limited Liability Company (LLC). It is crucial to note that the kind of business structure that you choose will have a lot of impact on the business name, how you file your taxes, and your level of legal liability. You may want to consult with a business lawyer or accountant to determine the best choice for you.

Register a Business Name

Your business name will play a significant role in almost all aspects. Therefore, you have to make sure you have chosen a good one. Think carefully about the implications as you explore various options when making your decision. One of the essential tips for entrepreneurs who are wondering how to start a business includes choosing a unique name. You’ll want to conduct thorough research to ensure your business name is not already taken by anyone else in your industry. You can find out this information through the U.S. Patent and Trademark Office (USPTO) or through other directories in your state.

Obtain Licenses and Permits

Conduct research on what type of licenses and permits you will require for your business then apply for them. You may also want to talk to others who have started their own businesses, as well as legal representatives, to ensure you aren’t missing any necessary paperwork.

Once you adhere to the above entrepreneur tips on how to start a business, you will have a strong base for your investment. However, do not expect to succeed overnight. It takes hard work and consistency to accomplish a set goal. Above all, remember to be creative and open-minded.

5 Tips for Entrepreneurs in Stressful Times

Mar 28, 2020

Owning and operating your own business is hard. During stressful times, tech entrepreneurs feel the strain just as keenly as businesses in other markets. We have five entrepreneur tips for you to keep in mind when times get tough to carry your business through the hard times into better days.