Sunday, August 31, 2014

Starting a Business as a Young Entrepreneur

There are a lot of businesses that have been emerging nowadays and a lot of entrepreneurs have also been slowly budding in the marketing industry. Many are even young businesspersons who venture into small businesses such as startups and are competent in their playing field. Many mobile app development companies have been sprouting because of the high demand that is being addressed in in this high-technology generation full of gadgets that is today.

There are quite a few tips that have been circulating around the online community especially from CEOs of successful startup companies. Basing on their experiences, there are ways on how to make first things turn out right.

1.    Be passionate.

It may sound trivial but this is one of the life-bloods of your business because the move, and perhaps the idea, comes from you. As the business comes into sight, you may fail along the way. And yes, it is always part of the game. However, your failures will eventually likely lead to success if you have yourself involved with something you really believe in. You are young and bound to a lot of possibilities. Yet when you start a business just for its own sake will eventually leave you with no direction, burned out and fed up. So choosing an interest that you should be passionate about is very much important.

2.    Define your market.

Of course you cannot start a business if you have no projected market audience in mind. It would be such a waste if you did not have this on your marketing plan. You might have heard this before and it is often the most common mistakes that entrepreneurs make. Never take this for granted. As much as possible, go with something that will make sense for your scope. If you are a small startup and just graduated from college, you might start tapping your locality or your fellows who might be interested in your products. The Internet can also give you much. It can give you an infinite reach, but it is vital to narrow your market down to what is more realistic and stick to those who might be interested.

3.    Be a solution.

Services and products are often the counterparts of why businesses exist. Yet these are also the solutions to the demands of the public, which is why you started with a business from the first place. Make yourself the solution to the people’s problems. Making this as one driving force, allow this as a motivation not only to sell out your products or services, but also a good entrepreneur with rapport and respect towards prospect and loyal clients.

4.    Be honest.

In business, there are instances that you have to impress your clients about what you can do and how you can help them. Not mentioning the fact that they should buy on the idea that they can benefit from you as cost is also concerned. Be honest. This applies to yourself, your employees and your customers. Be honest on what you can commit. It doesn’t do any good to over-extend yourself against the truth that you can only do enough. Be honest about what partners and clients can expect from you so that good ethics can also be preserved.

5.    Use social media but don’t over-use it.

In the advent of today’s generation possibilities, the Internet can do just as much. Young people are very much eager to jump online, which is not a bad thing. But always put to mind that it is important to think carefully about your marketing strategies; making marketing collaterals on the Internet. We all know that the social media is a very powerful tool and it can help in spreading word across the globe quickly and cheaply. Opt to experimentation and measurement of results, then constantly evaluate and decide what works and what resources you are wasting on.

6.    Have mentors.

Good and credible advice can also do much. Sometimes, being so young and excited to make money is very much thrilling and you might be forgetting a few other things to top in mind. This is why mentors are important. In every beginning of any venture, especially if you are quite new in the field, it would help to have a counselor who would guide you in what to do because they know better. Surround yourself with people who are experienced and learn from them, know what works and what is not going to work. Take advantage of this and you will be surprised at the wealth of knowledge you will eventually have.

These tips are just a few of the many common things a new and young entrepreneur should keep in mind. These can’t be done overnight but in the long run, it will help you begin your entrepreneurial career with a few mistakes that you can avoid during the course of your business. 

Monday, August 4, 2014

Choosing A Reliable Business Partner

You might be wondering how businesses bloom through partnerships and how successful these things can be. Imminently, there are stages in a business to want a person to share the ideas with and somehow, come up with more relevant marketing strategies in order for your business to last long. True enough, there are ways to learn how you should get a business partner and why you needed one.

Know your goals and meet halfway.

In a business deal and partnership, two heads are better than one. But sometimes, having two heads would also lead to having different opinions. For this to overcome, make it a habit to talk things especially on your goals. It is important to learn how to agree on things and be vocal about it. Say for example you are into mobile app development startup business and one of you has different strengths and weaknesses. One can do perhaps the marketing part, while the other can do the more technical side. It is important to realize that you are a team and you can make things better by having the same interest. And when you see that it pays off and see yourself with that person and your business blooming, and then it is one factor to consider having that person a business partner.

Business is business. Nothing personal.

And with how the saying goes, “Don’t mix business with friendship,” does not totally mean in a very literal sense. You can be friends with your business partner but as much as possible, make it casual. Business agreements are different from friendship deals and you should know how and when to cross the borderline. But also, make it a point not to be too hard on yourself so as not to get disappointed. 

Be open. Learn to trust.

A partnership does not become an agreement when it does not revolve around trust and being open about anything. It may be difficult at first that is why it is important to set your goals and setting things straight by talking things out. With this, you will be able to get the hang of the thought of having a business partner. More so, it will allow you to learn a person by all means. You can take it one step at a time and if you can see that everything goes well then it is another indication for you to consider.

Know each other’s values and work ethics.

These are among the key things a business partnership should work into. In fact it is something partners should check into especially that you are engaging into something serious. Values and ethics should always go hand in hand and it is essential to have ideals that you can work out with alongside your partner. Remember that work ethics are important in honing a business’ core values, not only among business partners but also for your business’ character.

Decide on decisions.

It will always come a time that decision-making can make or break a business’ growth. And this is one factor partners’ must keep in mind. If you are looking for a business partner that will definitely suit your decision-making dilemmas and can handle the pressure you are in, then it is one sign that you have found a reliable business partner that will be there for you through thick and thin.

Have fun. Travel together.

Business can be tough and nerve wrecking, but despite being so, the element of fun should be there. May it be during business presentations or meetings, or just relaxation, partners should learn to have fun and enjoy each other’s company. With this, it can be an avenue for both of you to know more of each other’s strengths and weaknesses, your desires and ambitions for the company and personal growth. Having this in mind, it sustains a certain bond that you both need, not only through business but also personally. You can always stay friends, but when you are crossing the borderline between friendship and business, it is important to know where to draw the line.