6 steps on how to become a successful entrepreneur

By Lisa Mach



1. MAKE PLANS

Keywords: Initiatives/ Plan everything/ Manage money wisely/ Organize/ Be realistic/ Take your time/ Jump in at the right time

Now where to start? Some would prefer not to have a structural approach but we at the Hub believe it is best to come up with an initiative and a plan first to turn your idea into a 'realistic' business. The real world requires you to manage your money wisely, for every successful business there will be an unspoken requirement for the business to make money. Of course, that won’t always be the case to start off with, but as your business starts to grow you'd start to appreciate those nights you’ve spent toiling over the balance book. 


You remember those targets you've set prior? And those lines you’ve drawn in your budget? They’ll help you focus on what’s most important. Now, let’s say your product did not turn out the way you’ve expected it to i.e. a fault in the computer program that could be detrimental to your entire business’s functionality. With enough thorough planning beforehand you should have saved enough loose change to switch around to a backup plan and even to scrap that initial idea all together (it happens to the best of us!) The market is forever changing, ideas are never set in stone and mistakes are made. Accept the changes and adapt. Be real. Be keen to move forward. 

Now once the right ideas and plans are set it is just the question of 'when to leap?' now this you'll have to think more carefully about. What are the other fishes in the ocean thinking? Who are your competitors? What are their ideas? The competition is the other variable in your plan that is never in a constant state, you just need to realize that just because their idea is similar to yours or you're both trying to approach the same market doesn't mean you need to see them as a direct threat or worse be disheartened. Take your time, gather data, learn and then jump when the time is right.


And you need to have…


A POSITIVE OUTLOOK

Now you and your attitude will become the driving force behind your business.  So not only will you need this optimism to boost your mindset but there is an inherent need for the ability to bounce back from any setbacks or downfalls, the business relies on your control and that includes your emotions. To boost such momentum would require you to be involved from the get go, get yourself excited about any new plans and development, jump in and really look forward to building your business ideas




2. BE ACCESSIBLE
Keywords: Be accessible/Get to know customers/ All about the customer/ Convince/ Believe/ Sell benefits/ Fill a gap in the market / The demographic

Now you’ve got your idea and you’re ready to sail into the ocean of opportunities, you must keep in mind to always think about who you’re selling your products to. Prior research into your target audience is a necessity plus it’ll keep you in the know. It is best not get side swiped on the way to success, always be prepared. Keep questioning yourself and your business, the key is to always be honest with yourself even to the point of utter brutality because you are your best critic and with critique comes the improvements. 

Are you selling your product enough? Are you selling your company enough? Are you reaching out to the demographic?

Now with those questions in the forefront there is a need to communicate with yourself and those around you, peers, partners and the demographic. Communication is vital to becoming accessible to your target market. Accessibility means the opening up of your business so it’s reachable, if you’re accessible to your market then you and your business become fundamentally reliable. This is what investors are looking for! The potential for growth from the ground up! 

Gather data, be innovative, know you’re a customers and know your business like the back of your hand. Build a rapport with those that have the power to grade you with an A or an F! Convince them that you are the missing link!


And you need to have…



COMMUNICATION SKILLS

Having both a positive outlook is vital to any entrepreneur’s checklist of skills however you would also need to communicate with those around you successfully. You want to create a business that is well presented, much like its image, therefore you’ll have to be well presented and coherent in your manner of speaking. Not only verbally but, in a marketing sense, you have to be clearly accessible and understood. Whether it’s communicating via social networking, emailing, making calls etc. you’d have to strive to build a good reputation. 

Your investors will trust you, your customers will believe in you and your team and partners will rely on you.   



3. BUILD YOUR BEST TEAM

Keywords: Start slow/ Build a top-notch Business Team / Team work/ Share burdens/ Help your business to become self sufficient

You’ve planned, you’ve promoted and you’re stable now what? It’s time to expand and build your team probably bigger than it initially was because the key idea of team building is to share and get as many heads within your reach as possible. With all that is going on now that you’ve set sailed, you need a reliable team that is willing to help you keep afloat. A ship is nothing without its Captain but a Captain is mediocre at best without his crew. You know your plan, you know the jobs that needs to be completed so the true challenge is to let others take control of each limb of the business. Enabling the company to continue to run even when you’re not around. You need to have a business that is self-sufficient and capable of growing on its own, a machine that runs itself and sells itself. 


And you need to have…


MOTIVATION
With a positive outlook on your business you’d surely be on your way to motivate not only yourself but you’d be able to drive your team/partners into the same positive mindset and help them become self-motivated as well. Motivational skills would then lead to strong leadership skills. You will be leading the minds that have helped you create your company and with that particular skill set it would ultimately enable you to lead and influence people outside of your immediate circle. Most importantly you could then influence the people you negotiate with and sell to. 





4. GRAB ATTENTION (IMAGE IS EVERYTHING)
Keywords: Ask for the sale/ Grab attention/ Entice investors/ Build a rock solid rep/ Project a positive business image/ Level the playing field with technology/ Modernize/ Invest

Image is everything, your logo, your symbol, what you stand for and why you stand for it? It all becomes the general image your business is invoking. Therefore everything that is done including promotions, advertising, networking etc. it all should fit together for the final picture. Remember the image would essentially be positive and attention grabbing. Modernize and adapt with the times, especially with the technology that links you with the business network. The social world is evolving so fast that even if you’re one update behind you’d be out of the loop. Invest in creating/maintaining websites and social media platforms because those give people access to you. Utilize the fastest way of marketing and communicating and use it in your favour. 


And you need to have…



TO BE WILLING TO SELF-DEVELOPMENT
None of the positive mentality skills would matter if you are not willing to succeed and to succeed is to self-develop, there needs to be a drive to learn at all times and that would involve improving  and picking yourself up as well as your company. You’d have to be willing to tweak yourself and do some thinking, do you want to be a good leader? Could you improve on your people skills? How could you brush up on your social media knowledge? Then get up and try to improve, self-improvement is the way forward for you and your company.  
 




5. MAINTAIN
Keywords: Balancing the books is a priority along the way/ Keep everyone happy

None of those steps above would mean a thing if you cannot maintain your business. It is necessary to take a step back and oil the nooks and crannies to ensure your business will cruise along proficiently. Keep check of on your company’s finances and prioritize. A smooth running business would also require a healthy and happy team, check in on them, and provide a functional environment where everyone is satisfied with their work and general comfort. It’s absolutely important for you to maintain a healthy line of communication with your employees, partners and customers! 


And you need to have…


PERSEVERANCE
You’d rather do what you love than what you dread, it’s that simple. To persevere is to maintain your momentum and excitement from the very moment you conjured up your business idea.





6. ENJOY YOURSELF
We’re sure you’ve all read plenty of articles in regards to how to run your business or who you should become to be truly successful but remember your business is your life, so run it how you would run your life and enjoy it. Repeat this step as many times as possible.