Starting a business is not for the faint of heart. Having a great idea and some enthusiasm will take you only two blocks of the marathon you will need to run to grow a successful venture.
You’ll need to work a lot, provide a product or service that others truly value, and be ruthless on the bottom line: making money!
Below is the stuff we know you’re not going to like to hear, but need to know. Look at these tips as a slap back into reality. If you can handle these truths, you can consider becoming a entrepreneur.
1. Build stuff people want.
This sounds obvious, but is often one of the biggest problems for entrepreneurs starting out. For example, you could come up with an idea that seems great to you, but you have no idea if it’s actually useful to the market it’s intended for. The simplest market research you can do to avoid this problem is pretty simple: ask your friends on social media if they’d find your product or service helpful.
2. You’ll need a lot of time, money, or both to start a business.
You’ll have to put everything you have into your venture, and nothing less. Don’t expect some rich friend or angel investor to help you out in the beginning: if you depend on yourself from day 1, you’ll be more likely to stay in the game.
3. Put down the book and get off your butt.
In fact, we suspect a good number of you are reading this piece to “productively procrastinate” from doing the task at hand. Well, after you read this, get back to it! Entrepreneurs are action-oriented, and if you slow down, your business could come crashing too.
4. Test, test, and then test some more.
Don’t take any of your assumptions for granted. Test every one of your strategies as you go along and you’ll ensure that you’re creating the best, most efficient experience possible.
5. Be weird, like the city of Austin.
Okay, you don’t need to go to SXSW to be a successful entrepreneur. But you know why Austin’s a glorious oasis? Beyond “keeping it weird,” people remember Austin. Because it’s different. Don’t be afraid to be eccentric. In this noise-filled world, you’ll need to be a little weird to stick out of the pack.
6. You always have direct competitors.
No matter how innovative your venture might be, you always have direct competitors. Always. End of discussion. Just spend some more time on Google and you’ll find out before you make yourself look like a fool to a potential investor.
7. You can’t just be creative, your business also needs to make money – Thankfully!
there are many businesses that successfully combine creativity with profit-making products and services. So, if you want to start making a living from your artistic pursuits, you’ve come to the right place.
That’s What Entrepreneurs Know
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