It’s a great time to be an entrepreneur—in
the last decade, technology has leveled the playing field and
propelled an entrepreneurial revolution. As an entrepreneur,
you now have more access to information that enables you to
make more intelligent choices more quickly. You have an advantage
over big businesses in that you’re lighter, more flexible,
and faster on your feet. You can target new markets more quickly,
and you can turn on a dime.
But being a successful entrepreneur requires that you look
at the big picture and follow a plan through from beginning
to end. Rieva Lesonsky, editor-in-chief of Entrepreneur Magazine
gives some practical guidelines that can help you when beginning
your own enterprise:
1.Don’t Quit Your Day Job.
Consider starting your business part-time, especially if it’s
online, while you’re working and have a steady income.
It usually takes six months to a year to get a business going
and you don’t want your ability to make your house payment
to hinge upon your company being an overnight success. Start
with what you can manage, financially and time-wise, and scale
up as your business grows.
2.Find Your Niche.
The days of general stores are over. Particularly online, consumers
are looking for stores that specialize. You have to find a
need—something a specific group of people want, but can’t
get at the big chain stores—and fill it. Advises Lesonsky, “You
can’t compete with the big guys, so you have to find
where the big guys aren’t and go into your niches.”
3.Have an Online Presence.
Even if you’re not planning to start an online retail
business, consider that the internet can still play a valuable
role in your company. Having an online presence eliminates
the limitations of physical location and broadens your customer
base by, literally, millions. It’s also a great tool
for promoting yourself and letting people, even in your own
area, know that you’re there, and what you’re doing.
4.Refuse to Quit.
Successful entrepreneurship requires creativity, energy, and
a drive to keep going when you fail. Few people realize that
before Bill Gates created the extremely successful Microsoft
3.0, he created a Microsoft 1.0 and 2.0, both of which flopped—but
he kept at it. And that determination and refusal to give up
is what will separate successful entrepreneurs from unsuccessful
ones. Says Lesonsky, “Arm yourself with optimism to get
beyond the ‘No’ or the trouble. There’s nothing
wrong in failure—just don’t repeat the same mistake!”
Article
Source: http://www.articlecube.com
Chris Malta and Robin Cowie of WorldwideBrands.com are the
Writers and Hosts of The Entrepreneur Magazine EBiz and Product
Sourcing Radio Shows.
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