Thursday, November 17, 2011

5 Tips For Entrepreneurs

Greetings dear readers.

Last night I was invited to the Fnb #BizNetwork Event and it was wonderful to hear all
the speakers and to look around and see all the business owners and entrepreneurs.

It got me thinkin about all the entrepreneurs out there.  If you have an idea of
being an entrepreneur here are 5 tips to get you started:

  1. Find The Gap
Take yourself off to a coffee shop and sit down with a pen and paper and write
down all those fantastic ideas you keep to yourself stuck in your head.  You know
those ones that are going to make you millions well write them all down.
Look around you in your area and think hard, what gap can you fulfill?
What service can you provide?  What can you provide that nobody else can?
Can you corner a market?  Write down 10 ideas and cut them down to 3
and then choose the one that interests you the most.

    2.   Write a business plan

Once you have your idea get a good business plan in place and work out 
if you can afford to do this.  How much will you charge?  Where will you sell?
Are you going to be in one suburb, one city or the whole country?
How will you get financing, banks, friends, family where?

    3.  Set goals for your business

Put your goals down on paper or on your computer or tablet or cellphone.
What do you want to achieve with this business.  Where do you see it in 1 year,
5 years, 10 years?   Is your aim to sell it for profit or carry on till you pass it on to your
children.  What is your aim, think it through.     Have a checklist for your business.
What are the things you will need? Stationery, business cards, marketing what else?
Write it all down and keep pen and paper nearby in case you forget anything 
and write down all your idea's for your business as well.  

   4.  Prepare for long hours ahead

As a business owner you must be prepared to work long and hard.  You might
have to cancel meetings, lunches, weekend plans etc.  Will you be able
to commit to this?  The more you put in the more you get out remember that.

   5.   Love what you do

When you start this business remember it has to be something you love doing
because you are going to be doing it for a long time.  You have to be 
passionate about your business and if you are your business will get bigger
and bigger.  

Now get out there, start that business and get your first client.

Fly high, Fly free

Fred Felton
Speaker & Author & Social Media Consultant
Falcon's Cove
A Digital Media Agency

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