One thing that I love (and sometimes loathe) about business is the fact that there is soooo much going on behind the scenes to make the process look easy. I have learned that in each of the areas I’ve dabbled in–real estate, freelance writing, and currently jewelry making. Don’t judge me! While becoming an entrepreneur seems fun (and no lie, it is!) it is also more work than you may think. Here are four tips to help you out.
1. To be a successful entrepreneur, you need to know more than just your craft.
For many who are just starting out, they have to be everything in their business. Accountant, PR/marketing specialist, secretary, etc. Of course, you knew that already. What you may not realize, however, is that there are parts of the job you love that cross over into fields that you never even considered. For example, when I decided to try my hand at selling handmade jewelry, I knew that I’d need to know about different techniques, where to sell, and keeping up with the cash flow. I was not expecting to get into photography. Sure, I had to take pictures, but that’s simple, right? No, not if you want it done right and you’ve never done more than point and click. So now, along with learning more about the jewelry business, I am also reading as much as I can on photography. Never anticipated that!
2. Learning = growth. To grow your business, you can never stop learning.
One problem that some new business owners encounter (especially those who are making and/or selling products) is that they get complacent in what they know, so they never branch out to discover what they don’t know. It is important to keep up with the trends in your market and in your given field. This helps you stay ahead of the curve and in the game. There is always a new tweak, technique, tool, etc. that can improve what you do and help you expand your product offering. Sidenote: Don’t confuse this expansion with diluting your best product or service to offer many different ones that turn out to be mediocre (this happens more often than you may think). You must make sure your key offering remains strong!
3. You need a mentor.
It may not even be a mentor in the traditional sense. When I started in real estate, I had a traditional mentor who became my broker. She showed me the ins & outs and basically lead me through a rather confusing field. Now that I am in a new profession, I find that I have gravitated to “mentors” online; those who are successful and have shared how they got to where they are. Although they are not hands-on with me, I am still able to take their nuggets of wisdom and apply it to my own work. Whether you have someone who holds your hand through getting your business off the ground or are following someone from afar, choose someone–or two or three–as your mentor and learn from their successes and mistakes.
4. Know when to call for backup.
So you have come to a point where you just cannot handle everything by yourself? Congrats! This means either your business is growing or you have identified an area that could become problematic if not handled correctly. If your situation happens to be the latter, don’t beat yourself up over it! Realize that it is an opportunity for improvement. When it’s time to enlist others for help, evaluate your needs, cash flow and available options. Only you can determine whether you need someone to work with you full-time, part-time, or on a contract basis.
If you have started a business, what other tips would you share with would-be entrepreneurs?
1. To be a successful entrepreneur, you need to know more than just your craft.
For many who are just starting out, they have to be everything in their business. Accountant, PR/marketing specialist, secretary, etc. Of course, you knew that already. What you may not realize, however, is that there are parts of the job you love that cross over into fields that you never even considered. For example, when I decided to try my hand at selling handmade jewelry, I knew that I’d need to know about different techniques, where to sell, and keeping up with the cash flow. I was not expecting to get into photography. Sure, I had to take pictures, but that’s simple, right? No, not if you want it done right and you’ve never done more than point and click. So now, along with learning more about the jewelry business, I am also reading as much as I can on photography. Never anticipated that!
2. Learning = growth. To grow your business, you can never stop learning.
One problem that some new business owners encounter (especially those who are making and/or selling products) is that they get complacent in what they know, so they never branch out to discover what they don’t know. It is important to keep up with the trends in your market and in your given field. This helps you stay ahead of the curve and in the game. There is always a new tweak, technique, tool, etc. that can improve what you do and help you expand your product offering. Sidenote: Don’t confuse this expansion with diluting your best product or service to offer many different ones that turn out to be mediocre (this happens more often than you may think). You must make sure your key offering remains strong!
3. You need a mentor.
It may not even be a mentor in the traditional sense. When I started in real estate, I had a traditional mentor who became my broker. She showed me the ins & outs and basically lead me through a rather confusing field. Now that I am in a new profession, I find that I have gravitated to “mentors” online; those who are successful and have shared how they got to where they are. Although they are not hands-on with me, I am still able to take their nuggets of wisdom and apply it to my own work. Whether you have someone who holds your hand through getting your business off the ground or are following someone from afar, choose someone–or two or three–as your mentor and learn from their successes and mistakes.
4. Know when to call for backup.
So you have come to a point where you just cannot handle everything by yourself? Congrats! This means either your business is growing or you have identified an area that could become problematic if not handled correctly. If your situation happens to be the latter, don’t beat yourself up over it! Realize that it is an opportunity for improvement. When it’s time to enlist others for help, evaluate your needs, cash flow and available options. Only you can determine whether you need someone to work with you full-time, part-time, or on a contract basis.
If you have started a business, what other tips would you share with would-be entrepreneurs?
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