Monday, 14 July 2014

How to Become a Successful Young Entrepreneur.

Become  successful young entrepreneur.
1. Have a plan:
Before anything  worthwhile can be achieved, a plan must be in place. Planning serves as a guide as you walk down the entrepreneurial lane. It goes a long way in helping eliminate obstacles to success. In the life of every successful entrepreneur, there is always a plan. With a sound plan, you are bound to succeed. Remember the adage, ' if you fail to plan, you plan to fail'
2. Hard-work:
Success in life comes by dint of handwork. Nothing on earth happens on a platter of gold, you must work hard for it. Albert Einstein, a renowned inventor, confirmed this by asserting that his success came as a result of handwork. Some uninformed entrepreneurs erroneously believe that entrepreneurship is just about creating new ventures. They even think that more leisure can be procured by creating businesses. Take it or leave it, if you actually wish to be successful
as an entrepreneur, you have to work more than 13 hours a day.
3. Sound financial management: as an aspiring entrepreneur, a sound financial management is of paramount importance. Finance is the life-blood of any organisation that needs to remain as a going concern. Here, you have to keep proper book of accounts. And, put a sound internal control mechanism aimed at checking fraud and error.
4. Customer satisfaction.
Just the way cash is king, customers are likewise. For any business to survive in the 21st Century, emphasis must be placed on customers' 
satisfaction. This helps in portraying your brand as a venture of high repute. Customer satisfaction serves as a kind of indirect advertisement. Customer satisfaction could take the following forms:
a. Honesty
b. Increase in product quality.
c. Decrease in price.
d. Maintaining  sound business practice (global best practice)
5. Invest in yourself :
real entrepreneurs are those who learn new things everyday. Here, you have to in search of information, because it brings about transformation. The difference between a successful young entrepreneur and an unsuccessful one is the level of information each has at his disposal.
6. Internet presence :
The internet has become a force for the growth and success of business in the 21st century. The 21st century has seen a lot of new successful businesses such. There are many business owners making over $2m monthly. Taking your venture to the internet entails that your business will be seen by people around the globe.
7. should be thinking beyond the ordinary. Creative thinking helps in doing things in extraordinary ways. Creativity helps one to stand out from the crowd. You should work on your mindset.
8. Competition.
Check out who your competitors are, what they do,and how the do it. Copy what they do, and present yours  in a very creative way. Please, feel free to share this with your friends.

No comments:

Post a Comment