Do ever find yourself staring out the office window, wishing you could be somewhere else, carving a career for yourself – your way? Well wonder no longer, because we’re here to show you how to survive and thrive as a new entrepreneur!
Today’s uncertain job market may require us to think about work differently; to be flexible, positive and open to new experiences, in order to earn the living we want whilst living the life we want. But do you have what it takes to be a new entrepreneur, and work for yourself?
Quality #1 – bravery
Make no mistake about it, starting out on your own requires a lot of courage. The odds will be stacked against you, it will take an enormous amount of time and effort on very limited resources.
You will inevitably suffer knockbacks on the way, but it could well be worth it if it enables you to follow your passion. Don’t be afraid to dream big – every successful entrepreneur, from Jo Malone to Jacqueline Gold, started with a burning ambition and a lot of determination.
Quality #2 – pragmatism
New entrepreneurs tend to be big dreamers, but this needs to be backed up with a solid business plan to maximise your chance of success. Make sure you take the time to do your research, think through decisions, and seek the advice of those around you with experience in starting a business. This will help you to build a long-term sustainable business model.
Quality #3 – sociability
No one is an island, particularly not a woman setting up a business. As we referenced in the previous point, it’s important to make connections with those who have been there before. It will also be important to network like crazy, in order to find new clients, suppliers and potential partners who can help you grow your idea into a profitable company.
A word of warning, though: be careful whose advice you listen do. Always be patient with the guidance you are given, but never forget to lead with your own instincts rather than blindly following the information you are given by others.
Quality #4 – connection
Being connected does not just mean talking to those who will help you form stronger business networks; it means having a deep understanding of your customer base. Ultimately, the customer comes first, so you need to have a clear idea of who you are targeting.
Don’t be afraid to go after a specific demographic; better to have a loyal, high value following among a segment of the population than try to target everyone and resonate with no one.
Always listen to customer feedback, and use it to better your service every time.
Quality #5 – flexibility
The beauty of being a new entrepreneur is that no two days are the same, and you’re never quite sure what fresh opportunities lie around the corner. It’s important to be agile in this respect, so you can adapt to whichever direction your business grows.
Change is the only constant in the commercial world, so be ready to respond to the new challenges and chances that running a developing company offers. The quicker you can respond to what your customers want or how the market is evolving, the greater chance you have of increasing profit.
Get yourself ready to launch a solo endeavour
It’s not just your business plans that must be in place to thrive as an entrepreneur; it’s also important that your personal affairs are in order, so you can devote your complete attention to starting your own company.
When you need to think about your financial plan, contact us to help you formulate it.
And if you’re looking for a suitable networking group, try Evo Girls by clicking here.