Published On: Tue, Jan 17th, 2017

How You Can Become The Next Great Entrepreneur

Entrepreneurialism has been on the rise over the last decade or so, to is far from being a modern concept but the power of the internet has given rise to people like Mark Zuckerberg and David Karp who are creating wonderful projects online which has netted them fortunes. It is people like these who have inspired a generation of young people who want to build their very own start ups and find success. This desire for success coupled with the ease in which they can create their own companies online has meant that becoming an entrepreneur is a very fashionable career choice.

John Bradberry is a consultant who spends a great deal of his time with budding entrepreneurs spoke to us recently  on what young, ambitious adults need to do in order to prepare themselves for the World of business and today we are going to talk about the preparation you should be doing before attempting to become the next successful entrepreneur.

innovation sign

photo/ Michael Jarmoluk via pixabay.com

Strengths and Weaknesses

Many go straight into the world of business assuming that they have what it takes to succeed and unfortunately the fast paced nature of business not only shines a bright light on weaknesses in ability but it also gives budding entrepreneurs little time to overcome their lesser strengths. The best course of action is to plan ahead and make a list of your strengths and weaknesses, this way you can not only plan for how you will improve on your weaknesses but you can also plan you business around your strengths.

Managing Money

Before you start pitching  your great idea to potential investors you will need to have a firm understanding of finances and how to raise them, spend them and manage them appropriately to make you business profitable. Taking a course, either short or long to improve your economical knowledge is great idea and it will serve you well once you start you project.

Write Out Your Business Plan

A business plan is going to be vital to your success as an entrepreneur and you should get working on this as soon as you can. Within your plans you should be factoring in how you will build the company, how you will seek growth, how you will raise and spend funds, what kind of staffing structure you will have, how you will market your product or service and what kind of brand are you looking to create. Your business plan is also your plan for success and it is important that it is watertight and acts as a manual for you to follow once you have launched your business.

Preparing to become an entrepreneur makes a great deal of sense and it can help you to avoid making mistakes once you have launched your business. It is important that you make the most of your planning time so that you can be more effective in the future once you take a product to market and you are making important decisions every day on your road to success.

Author: Anwar Hossain

On the DISPATCH: Headlines  Local  Opinion

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