Entrepreneurship is known to be one of the most challenging and rewarding experiences. Many contemplate starting on their own but never get around to doing it. Small or big, how does one go about starting up and lasting out in today’s techno-world? The sheer expanse of information and data available can be overwhelming to study. Amidst this dynamism, some things remain constant and could be the key to your success.
These are a set of soft inputs that you may need to hone in your new journey as an entrepreneur. Remember, these aspects are not one-time activities; they are continuous, part of your daily routine to stay on top.
Read on to find what these are:
Know your strengths & leverage them
We have a perception about ourselves, which may be different from what others see. Instead of assuming, find out with certainty the skills that you possess. Are you a people friendly? Do you understand technology well?Are you organized? Are you good at analyzing your mistakes?Take time and effort to understand your passion, your strengths and then prioritize accordingly. There are many mobile apps and websites which could help you analyze your habits, passions, and business IQ skills. Do only those activities, whichare your core competency and delegate the rest.
Study your customer
You are ready to begin. But who are your customers? It’s time to learn about them. Traditional market survey and handing out samples may work, but it is long drawn approach with limited reach. Nowadays the internet offers surveys with more extensive reach. Existing market research reports from different marketing firms are excellent to get insights. Remember your study is not static. You and your business need to evolve continually. Understanding, analyzing and catering to your customers’ ever-changing needs and requirements is your daily challenge. Feedback and online reviews will be the new norm going ahead.
Spread the word
Why does your brand/product/company exist? Understand your ‘Why’ and market your brand accordingly. The journey of every brand is a story, which customers like to hear. It needs to be narrated and packaged to capture their attention and engrain in their memory. Branding and public relations are catalysts for a long-term success. Today there are many firms in the market, which offer such services. Presence in the social media platforms like Facebook, Twitter, Instagram, Snapchat, WhatsApp etc. are today the norm of every business. Nothing reaches a large and heterogeneous audience like the Internet.
Never give up
“Rome wasn’t built in a day”. Success comes to those with commitment and perseverance. Passionate entrepreneurs do not know when to stop, they never give up. A positive attitude and an ability to think out of the box solutions is the key.Jack Ma, the founder of the Alibaba, once said, “If you’ve never tried, how will you ever know if there is a chance?” He started his company after many years of failure at the ripe age of 40. Business and markets are ever changing and dynamic. You will come across many challenges, and if you have run out of ideas and feel like giving up, look for mentors. Today, there are clubs or associations for every kind of business, specific and general. Networking with peer group helps to get guidance, inspiration and ideas. They may even help you source business too! Networks can be offline like BNI or online like on Faceback, LinkedIn etc.
Take a look at every successful entrepreneur today, big or small. Each would be following a rhythm in their daily life where they incorporate a method to step away from life for a little while. Hobbies, exercise, sports, philanthropy, music,etc., choose an outlet to sustain you mentally. Some of the great ideas and solutions have arisen during such periods of relaxation. Big names like IBM, Google, Microsoft etc., give importance to not only the employee’s skillsbut also their breaks. Ideationstems from a place of calm. Find your way to reach this state.
Be positive & persistent
Finally, the most vital aspect is your attitude towards life, people, environment and work. People would associate your attitude with that of your business and your brand. If you are ever motivated and full of positivity, the same will have cascading effect on your team. Your Employees will feel motivated after every interaction with you. There are a lot of books available to train yourself consciously towards this goal.
Also, gratitude is the corner stone for the longevity of your business. You do not have to get rich and wealthy to help a social cause in your area of business. Corporate social responsibility is the millennial business theme for your consumers, your employees and governments. Create a foundation for the right cause. Set up scholarships for your employees. These activities not only bring you closer to your customer, employees and society but build your goodwill for a future legacy.
The views expressed in the article above are those of the author Ms. Minal Anand, Founder & CEO,GuruQ. GuruQ is India’s best digital platform that connects students and tutors to address the huge need gap of quality tutoring in India