5 answers
ali
Student
Kansas City, Missouri
1
Question
Asked
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what do i require to do in order to become a successful businessman after completing college?
i am about to begin college
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5 answers
Doc Frick
Career Coach and Mentor
1502
Answers
California, CA
Updated
Doc’s Answer
If you want to be successful in business Ali, you’ll need a strong understanding of finances. You should be able to market your business and utilize the latest technology when necessary. Make sure to communicate effectively and stay positive, even under high-pressure situations. Being able to delegate and managing your time is also essential. Whenever there’s a need for a negotiation, you should be ready to fight for the good of your business. Here are some additional skil I feel are essential if your going to successful in business.
MARKETING STRATEGY
No matter what kind of business you want to start, you’re going to have to do a lot of marketing. You must be a successful marketer to gain clients or customers and keep your business growing. Convincing someone that they need your products or services is a special skill. In addition to growing your customer base, you need marketing skills to hire employees and grow your team. You have to market your business, and if you’re just starting out, that can be especially challenging. But when you employ the right marketing techniques, you can sell yourself, your business and your products or services to anyone!
ADAPTABILITY
In the fast-paced world of startups, change is constant and often unpredictable. The ability to adapt to shifting markets, consumer needs, and technology can distinguish between thriving and struggling in business, when starting a business you must be willing to pivot your strategies, embrace new trends, and revise your business model as necessary. This flexibility can open up new opportunities and help avoid potential pitfalls.
DATA ANALYSIS
Gathering, processing and interpreting the information received – both internal and external – are processes that lead to valuable conclusions that in turn allow making good decisions for the company. Individuals who demonstrate a high level of this business skill can detect market trends, identify areas of the company in need of improvement and effectively assess whether the implemented strategy has yielded the expected results. In this way, they learn from their mistakes and propose new actions with a higher probability of improving the company’s market situation or internal processes.
FINANCIAL MANAGEMENT
Understanding the numbers is crucial. Effective financial management encompasses budgeting, forecasting, managing cash flow, and making informed investment decisions. Entrepreneurs must be able to read and interpret financial statements to understand their business's financial health and make strategic decisions. This skill ensures that a business can sustain operations, fund growth, and achieve profitability.
STRATEGIC PLANNING
Vision without strategy is merely a dream. Starting a business you must be able to think strategically to set viable goals and develop actionable plans to reach them. This involves analyzing competitive environments, identifying business opportunities, and assessing resources. Strategic thinking also includes risk management where you identify potential risks and develop strategies to mitigate them effectively.
NETWORKING
Being able to articulate ideas clearly and persuade others is invaluable. Entrepreneurs often need to communicate with a variety of stakeholders including employees, investors, customers, and partners. Effective communication enhances leadership, fosters team alignment, and attracts investment. Additionally, networking is essential for building relationships that can lead to new opportunities, valuable advice, and increased support.
MARKETING STRATEGY
No matter what kind of business you want to start, you’re going to have to do a lot of marketing. You must be a successful marketer to gain clients or customers and keep your business growing. Convincing someone that they need your products or services is a special skill. In addition to growing your customer base, you need marketing skills to hire employees and grow your team. You have to market your business, and if you’re just starting out, that can be especially challenging. But when you employ the right marketing techniques, you can sell yourself, your business and your products or services to anyone!
ADAPTABILITY
In the fast-paced world of startups, change is constant and often unpredictable. The ability to adapt to shifting markets, consumer needs, and technology can distinguish between thriving and struggling in business, when starting a business you must be willing to pivot your strategies, embrace new trends, and revise your business model as necessary. This flexibility can open up new opportunities and help avoid potential pitfalls.
DATA ANALYSIS
Gathering, processing and interpreting the information received – both internal and external – are processes that lead to valuable conclusions that in turn allow making good decisions for the company. Individuals who demonstrate a high level of this business skill can detect market trends, identify areas of the company in need of improvement and effectively assess whether the implemented strategy has yielded the expected results. In this way, they learn from their mistakes and propose new actions with a higher probability of improving the company’s market situation or internal processes.
FINANCIAL MANAGEMENT
Understanding the numbers is crucial. Effective financial management encompasses budgeting, forecasting, managing cash flow, and making informed investment decisions. Entrepreneurs must be able to read and interpret financial statements to understand their business's financial health and make strategic decisions. This skill ensures that a business can sustain operations, fund growth, and achieve profitability.
STRATEGIC PLANNING
Vision without strategy is merely a dream. Starting a business you must be able to think strategically to set viable goals and develop actionable plans to reach them. This involves analyzing competitive environments, identifying business opportunities, and assessing resources. Strategic thinking also includes risk management where you identify potential risks and develop strategies to mitigate them effectively.
NETWORKING
Being able to articulate ideas clearly and persuade others is invaluable. Entrepreneurs often need to communicate with a variety of stakeholders including employees, investors, customers, and partners. Effective communication enhances leadership, fosters team alignment, and attracts investment. Additionally, networking is essential for building relationships that can lead to new opportunities, valuable advice, and increased support.
Michelle M.
Entertainment Industry
1750
Answers
Updated
Michelle’s Answer
Hello, Ali !
Congratulations on beginning your college journey !
Right now as you begin studying, it is a time to relax and be in the present. Your education will be an amazing and wonderful process in which you will learn and experience a lot. I wouldn't exactly think about four years from now because you are not there yet. No one can foretell the opportunities and ideas you will have within these next four years, so your focus is best geared to your classwork and projects and activities on campus.
Everyone wants to be successful - and you will. It's not helpful right now to wonder about elusive or imagined success because you are just beginning to learn about business through your college pathway and it is unique to you and you will grow and be inspired. Now is the time to be inspired, not wonder about four years from now. Many business people do fail but pick themselves right back up and succeed. Business is too general to pinpoint exactly what you, Ali, must "do", you must learn it. Right now, the focus is best applied to being a successful Business Major.
You can get some valuable experiences outside of the classroom, too. Seek out opportunities on campus for extracurriculars, clubs and organizations on campus that focus on Business. You can also look for volunteer work, shadowing experiences and ask your Business Department professors if an Internship is offered to their students at some point in their major study. As you do these activities, you may meet an older person in business who can become a Mentor to you. It's an exciting journey and as you succeed as a college student, you will bring that to any career you choose.
Some contacts that you may be interested in to expedite what I've just mentioned are KCK Forward Young Professionals (a chapter of the Chamber of Commerce) (913)748- 304. PE4 Life offers workshops and entrepreneurial training in Kansas City (816)472-7345. Youth Ambassadors (816)793-3833 empower young people to become leaders and entrepreneurs in their community. And there are a lot of opportunities for additional experiences through KC for which I have left a link for you below. All of these are located in Kansas City, MO.
So now is the time to enjoy and participate in the current things that will have you involved as you learn ! Your college experience and your future career will be whatever you put into it and I am sure that you will do really well !
I hope that this helpful. Write down those programs and phone numbers and give them a call and look for their websites online, too ! I wish you all the best !
KC YOUNG PROFESSIONAL GROUPS https://thinkkc.com/life/careers/get-involved/young-professional-groups
Congratulations on beginning your college journey !
Right now as you begin studying, it is a time to relax and be in the present. Your education will be an amazing and wonderful process in which you will learn and experience a lot. I wouldn't exactly think about four years from now because you are not there yet. No one can foretell the opportunities and ideas you will have within these next four years, so your focus is best geared to your classwork and projects and activities on campus.
Everyone wants to be successful - and you will. It's not helpful right now to wonder about elusive or imagined success because you are just beginning to learn about business through your college pathway and it is unique to you and you will grow and be inspired. Now is the time to be inspired, not wonder about four years from now. Many business people do fail but pick themselves right back up and succeed. Business is too general to pinpoint exactly what you, Ali, must "do", you must learn it. Right now, the focus is best applied to being a successful Business Major.
You can get some valuable experiences outside of the classroom, too. Seek out opportunities on campus for extracurriculars, clubs and organizations on campus that focus on Business. You can also look for volunteer work, shadowing experiences and ask your Business Department professors if an Internship is offered to their students at some point in their major study. As you do these activities, you may meet an older person in business who can become a Mentor to you. It's an exciting journey and as you succeed as a college student, you will bring that to any career you choose.
Some contacts that you may be interested in to expedite what I've just mentioned are KCK Forward Young Professionals (a chapter of the Chamber of Commerce) (913)748- 304. PE4 Life offers workshops and entrepreneurial training in Kansas City (816)472-7345. Youth Ambassadors (816)793-3833 empower young people to become leaders and entrepreneurs in their community. And there are a lot of opportunities for additional experiences through KC for which I have left a link for you below. All of these are located in Kansas City, MO.
So now is the time to enjoy and participate in the current things that will have you involved as you learn ! Your college experience and your future career will be whatever you put into it and I am sure that you will do really well !
I hope that this helpful. Write down those programs and phone numbers and give them a call and look for their websites online, too ! I wish you all the best !
Michelle recommends the following next steps:
Kevin P Hust, MBA
Risk Administration and Army Officer
62
Answers
Dallas, Texas
Updated
Kevin P’s Answer
Ali, first and foremost, thinking about this now at the beginning of your journey is already one big step in the right direction. Too many people wait until its too late to try to figure that out.
I have seen and experienced that the further up the ladder of business you go the less you actually work on your craft. I have personally observed this and I have read dozens of biographies that deal with the same. Take a profession, I will pick one that I don't know much about, architect. When an architect wants to start his own firm he needs to understand how the business is set up, how to do taxes, payroll, contracts, HR, and the list goes on before every being an actual architect.
Most businessmen and women want to scale their business, make it bigger and more profitable. Usually that requires one thing, people. So you go from your craft to being a people manager. They start doing the work you once enjoyed doing.
So what do you require, people skills. Soft skills that are usually not seen. No profit and loss sheet has a column or row for people skills. How you lead people will be the key to success. Making the right decisions is important too but that comes with practice. You need to make some wrong decisions to learn that part.
So start paying attention to the simple interactions you have with people. They start mattering.
You got this. Make the world a better place.
I have seen and experienced that the further up the ladder of business you go the less you actually work on your craft. I have personally observed this and I have read dozens of biographies that deal with the same. Take a profession, I will pick one that I don't know much about, architect. When an architect wants to start his own firm he needs to understand how the business is set up, how to do taxes, payroll, contracts, HR, and the list goes on before every being an actual architect.
Most businessmen and women want to scale their business, make it bigger and more profitable. Usually that requires one thing, people. So you go from your craft to being a people manager. They start doing the work you once enjoyed doing.
So what do you require, people skills. Soft skills that are usually not seen. No profit and loss sheet has a column or row for people skills. How you lead people will be the key to success. Making the right decisions is important too but that comes with practice. You need to make some wrong decisions to learn that part.
So start paying attention to the simple interactions you have with people. They start mattering.
You got this. Make the world a better place.
Xiaojie Johan Liu
Consultant
91
Answers
Boston, Massachusetts
Updated
Xiaojie Johan’s Answer
Hello,
Thanks for asking! There are many paths you can take. Entrepreneurship is one of the ways you can go about, but there are many other options.
I believe the posts above me have a long post of the ideas that are possible for you to achieve this, but I recommend studying something that is useful for this pursuit. For example, if you want to start a software company, I'd study computer science. Combine anything you want to do with a business management degree might be a good idea!
Hopefully this helps!
Thanks,
Johan
Thanks for asking! There are many paths you can take. Entrepreneurship is one of the ways you can go about, but there are many other options.
I believe the posts above me have a long post of the ideas that are possible for you to achieve this, but I recommend studying something that is useful for this pursuit. For example, if you want to start a software company, I'd study computer science. Combine anything you want to do with a business management degree might be a good idea!
Hopefully this helps!
Thanks,
Johan
Rebecca Tang
Banking
1728
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to become an entrepreneur. Have you thought about what industry you want to start your business?
Below are my suggestions:
1. Think about what industry you have interest or you have strength
2.Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the business model and establish people network
5. Start the business online first if possible
Hope this helps! Good Luck!
May Almighty God bless you!
Below are my suggestions:
1. Think about what industry you have interest or you have strength
2.Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the business model and establish people network
5. Start the business online first if possible
Hope this helps! Good Luck!
May Almighty God bless you!