- Solve a Real Problem
- Get Connected
- Put in the work
Entrepreneurship is the new wave. I love that. The fact that so many young persons are taking radical action to pursue their goals. Being an entrepreneur can from the outside seem like quite the glamorous gig.
Freedom to do as you wish, Control over your time and actions and of course the viral images of travel, fancy meetings, cool coffee mugs and snazzy business cards. All of these and more can at some point become a part of your lifestyle as an entrepreneur, of course more often than not, the journey isn't as flashy or exciting.
It can be a drag, the hours get long, the bills pile up, it's so important to manage the highs and lows of entrepreneurship.
Doing this in some or the other for over 10 years, I would go as far as to call myself a moderately successful business woman. It's important to me that I don't get too caught up in self- grandiose. I meet so many young aspiring and new entrepreneurs, who all want to know the same thing. What should I know as I prepare to get started/execute? Using my experiences and failures I settled on 3 Tips for New Entrepreneurs.
Solve a real problem
Before you launch a new business, think long and hard about the problem you are working to solve. Is there any other product/service in the market that is solving this? What is your value proposition? What will you do better than everybody else? Imitation is not the best form of flattery. In fact, imitation is unsustainable.
Take some time to listen to persons around you, what are some of the challenges they are facing? What ideas do you have that could help this segment of the market to overcome them? Is your idea scalable (meaning, can it grow to include a larger portion of the market?) Don't just look at what other people are doing and try to replicate that. Be original in your ideas and your execution.
You've heard it before, Your Network will determine your net worth. The more relationships you can build, the more value you find to give to every situation, the more successful you will become. Find new ways to connect with new people, always be kind and respectful. People need people. Be a good person.
Put in the work
Be prepared to work ridiculously hard and make CHOICES (they are not Sacrifices) in the best interest of your business. It's going to be hard. It's going to take some time. You will feel like giving up. You will fail, fall short and wonder why you started in the first place....but you can't give up. So long as you are prepared to consistently put in the hard work, you are going to succeed.