Exploring entrepreneurship has been one of the most fulfilling ventures for me. I get to do what am passionate about, apply my intellect and skills and get challenged to become better each day. And the cherry on top...earning an income while at it! I am still at the initial stages of growth but have learned a lot about entrepreneurship in the process.
Just Do It
There is never a perfect time to venture into entrepreneurship. You will always wonder whether you have enough experience, skills, knowledge or resources.
How do you compare to other entrepreneurs in your niche market, does your product or business model give you a competitive advantage over others? Will your business thrive? These questions will always linger throughout your journey as self-doubt is part of human nature. So you might as well get the business started anyway.
Surprises (pleasant or not) will emerge along the way regardless of your level of preparation. And that is okay! Each is a learning experience that brings you closer towards achieving your ultimate vision for your business.
However, this does not mean that you should not research extensively about the business before venturing into it. Doing your homework helps to mitigate potential risks and increases the likelihood of your business succeeding.
YOU CANNOT DO EVERYTHING
While we may be an expert at offering a service or making the product we sell, running a successful business is a whole different ball game with various moving parts. Product development, marketing, sales, accounts, customer service. One cannot do all these effectively alone without spreading themselves thin.
It is prudent to delegate where possible, especially for areas in which you are not an expert. This could be by partnering with friends who bring different strengths and expertise to the business.
You can also pay a minuscule fee for expert help. Get a graphic designer for professional graphics, outsource social media marketing to an experienced and affordable freelancer or agency, or use free web development platforms such as Wix or squarespace. Upgrading to a premium plan on Wix for a small monthly fee gives one access to tech support and wix web design experts. You also get invited to cool wix networking events.
Though social media may seem to have taken over traditional marketing, old-school face-to-face still plays a pivotal role in marketing success. Face-to-face interactions help establish trust as well as build credibility for your business. Some of my best clients are those I met at networking events!
Find opportunities to network with other entrepreneurs or potential clients and talk to them about your product. A simple google search gives an array of networking events in your area to choose from. Networking also helps enrich your knowledge of the latest technology or current practices in the entrepreneurial ecosystem.
Additionally, always have a business card to hand out and a sample of your product to show. You can have a virtual portfolio of your products on your phone or iPad if you prefer to travel light. Having a physical product allows people to look at or test it, ask questions and even purchase in some instances.
You can also get valuable insight from feedback on how to improve the product or diversify it. A business card and a product to show distinguishes you and conveys seriousness, assertiveness, and commitment to your product on your end.