The current economic reality is a Tonic to being a good entrepreneur because technology has created a global business platform as well as propelled a great entrepreneurial trend. As a business owner, you now convey more access to info that enables you to definitely make smart decisions more quickly. You might have an advantage over the established companies because you are lighter, way more versatile, and quicker in your preferences. You can focus on new marketplaces more quickly, and you may turn on out of pocket.
By looking at the main issues and complying with plans from starting to the end is a condition to being a successful entrepreneur. Here are some useful guidelines that will help you as a beginner in the business world:

1. AVOID JUMPING THE SHIP: Don’t stop your salary work abruptly, Consider beginning your business part-time, especially if it can be transacted online while you’re operating and have a stable income. This usually takes 6 months to 12 months to get a company going and you do not want your own ability to pay your house rent rest upon your new business being an instant success. Begin with what you can manage, monetarily and time-wise, and range up as your company grows.

2. DISCOVER AND IDENTIFY YOUR AREA OF SPECIALIZATION: It is better to identify a particular niche market where you have a competitive edge in terms of skill, expertise and knowledge, most especially if the business will start online; people are always looking for companies that focus on their needs or problems. You have to look for a need or something a particular group of people would like, but cannot get from what your bigger firms offers and fill this need. Since you cannot compete with the top guys, it therefore, means you have to discover where the established companies are not and go into such market. A friend of mine Adebiyi OLanrewaju who owns Fadeex Express and Logistics started his courier and logistic business 3years ago by identifying areas where top firms such as FEDEX, DHL, UPS, EMS SPEEDPOST, EPS, ERRANDEX, etc fails to ply their trade, his company is already growing in leaps and bounds.

3. BEGIN SMALL TO GROW LARGE: It is always better to start a new entrepreneurship project in a small way and learn the ropes, watch the trends and build on the experience you have gathered in order to make your business a successful enterprise. The stories of Dangote, Eleganza, Facebook, Microsoft, Apples, etc are just few of the many big brand names that have become a phenomenon in the business world today. Instead of building castles in the sky with your tall dreams, it is better to start small and grow big.

4. BUILD AN ONLINE BRAND WITH FOR EASY ACCESS: Even if you are not going to start an online retail enterprise, consider that this internet can play a very important marketing role for your company. Getting an online presence removes the limitations associated with physical area and broadens your consumer bottom by millions. It is also a useful thingy for marketing yourself and also letting individuals, even in your own personal area, realize that you’re generally there.

5. BUILD TRUST AND BE CONSISTENT: For new entrepreneurs to succeed in the volatile business environment of the 21st century dominated by the market leaders, you need to build a long lasting trust of your brand in the hearts of your target audiences. And trust alone will not achieve the overall objective but one also needs to be consistent in your dealings with new and existing clients. Once your business is built on utmost good faith accompanied with consistency, the sky is the starting point to greatness.

6. DO NOT QUIT. Effective entrepreneurship needs creativity, power, and the zeal to keep moving when you fall short of your initial plan. “Arm yourself along with optimism to obtain beyond the actual ‘No’ as well as trouble. There is nothing incorrect in failure-just don’t replicate the same error! ” Probably the greatest example of persistence is Abraham Lincoln. If you want to learn about somebody who didn't quit, look no further. Born into poverty, Lincoln was faced with defeat throughout his life. He lost eight elections, twice failed in business and suffered a nervous breakdown. He could have quit many times - but he didn't and because he didn't quit, he became one of the greatest presidents in the history of United States of America. Lincoln was a champion because he never gave up.

7. SEPARATE BUSINESS FROM PLEASURE: I have oftentimes seen many startup businesses started on a good note, blazing through the odds and becoming pacesetters for aspiring entrepreneurs but at the end of the day the business was not able to sustain the tempo and thereafter, folded up just like that. By not separating your business from worldly pleasures could result in abysmal failure after you must have created a successful business venture. It is important to give your business the attention it deserves, work while its work time and play when it is absolutely necessary to do so.

Source..http://hollalaycan..com.ng/2016/05/7-most-important-guidelines-for-first.html

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