Alicia
what would be the first step to become a successful entrepreneur and starting my own business?
Once i decide on my business type i would like to begin my business and expand it internationally or even nationally. i want my business to become a billions worth enterprise, or even more so that others could follow my footsteps and become successful themselves. #business #business-management #international-business #small-business
7 answers
Dr. Ronald Hockin, PhD
Dr. Ronald’s Answer
May I suggest developing an Executive Summary. This document serves as an important first step by which strategic vision, mission, and objectives take form. As time elapses, the Executive Summary may be re-visited to reflect upon business progress, as well as make necessary adjustments.
Dr. Ronald
Ben’s Answer
Hi Alicia,
What do you want your company do to? What goods and/or services are you selling? What is your vision? (Figure this out first before you move forward. Once you have the answers to these questions you can move forward as an entrepreneur.)
You NEED passion and drive to become an entrepreneur. You need to be hungry and strive to accomplish your goals. You need to hustle and put in numerous hours of work. Many entrepreneurs often don't get much sleep because they are too busy grinding and focusing on their mission.
Are you a leader? Can you inspire others? I'm going to be honest with you entrepreneurship is difficult that's why not everyone is a CEO or runs their own business. Is it impossible? Absolutely not but it is extremely difficult and you either have the entrepreneur mindset or you don't. Gary Vaynerchuk is a great entrepreneur and he gives great advice on entrepreneurship. If this is something you truly believe you want to pursue I recommend watching a lot of his videos. Find some books on entrepreneurship also. Be hungry for knowledge and always be learning.
I hope I pointed you in the right direction. If you have any more questions feel free to ask them in the comments below. Have a nice day!
Aaron Steinke
Aaron’s Answer
Find your passion and turn that into your business. If you don't passionately believe that what your selling doesn't resonate 100% with who you are, and what you love to do, it will reflect in the amount of time, energy, and spirit you put into your business.
This universal law applies not only to entrepreneurs, but to anyone with a job. Make your vocation into a vacation - meaning, if you're doing what you enjoy, it's not work, it becomes fun!!!
Marcel Badia
Marcel’s Answer
Find what you like whats your passion, see if is a problem out there in what you can find a solution and disrupt the market.
Never stop triying, remember entrepreneurship is a journey full of ups and downs.
Habiba Abdelrahman
Habiba’s Answer
I'm a recent entrepreneur myself and I would say that the most important thing is to make sure that you are introducing something that will be unique and will fill a market gap. The way I think about it is, where do I see a "pain" for someone and how can I offer something to turn into a "gain". So you first need to think of 2 things, idea creation, followed by idea validation. Make sure that 1. you're adding value with what you're offering 2. it is something that interests you too because if not, then without the passion, you won't be able to grow or at least reach your full potential. After you know the idea (or even a few ideas) start working on validating them through market research eg: to know if the size of the market you are entering is big enough or not, to see and test if there is (or there will potentially be) demand for what you will offer and that people are willing to use what you will offer (i.e. you will have customers). In some cases if there is no directly acknowledged demand, but when you introduce something disruptive, supply ends up creating it's own demand, but you need to conduct research to know if this will be the case with your idea. So I would say #1: Idea generation and validation and alongside that, you need to be thinking of your team, what you can offer and who you need to bring onboard and what skills would they need (it can be more that 1 person).
I love how you're thinking big and you're thinking of the impact of your business on the success of others. Just keep in mind that building a business will have a lot of ups and downs and that it usually takes time to create something so big, sometimes it even takes generations. So don't let any of your slip-ups along the way make you think that you're not growing and then you just give up. Growth and success take time so you need to be very patient!
Best of Luck!
Jenifer Adamson
Jenifer’s Answer
Prashanth Ashoka
Prashanth’s Answer
Hi Alicia,
Thank you for your questions. During my research I found the information the following links helpful and very much related to the answers you are looking for. Please go through these information and revert if you have any questions or need clarification.
https://www.entrepreneur.com/article/240184
http://www.wikihow.com/Become-a-Successful-Businessman
https://www.americanexpress.com/us/small-business/openforum/articles/top-10-ways-to-be-a-successful-entrepreneur/
http://www.wikihow.com/Become-a-Successful-Young-Entrepreneur
http://www.forbes.com/sites/actiontrumpseverything/2012/11/28/how-to-be-a-successful-entrepreneur/1b97a6243848
All the very best.