What do entrepreneurs need?
Lincoln
subscriber Posts: 2 Member
I'm building a website called Armchair where entrepreneurs can share ideas with each other. You can sign up to be notified when the public beta launches at http armchair dot business. (Sorry, can't post links yet.)
My question for you guys is, what does an early-stage entrepreneur (such as you) need in order to start a successful business? Here's what I've got so far:
1. A specific business idea/plan
2. A network of people to help you out.
What else do you think entrepreneurs need?
My question for you guys is, what does an early-stage entrepreneur (such as you) need in order to start a successful business? Here's what I've got so far:
1. A specific business idea/plan
2. A network of people to help you out.
What else do you think entrepreneurs need?
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Comments
-a pitch deck
-funding/enough money to start up
-a set system to keep track of accounting/cash flow
-marketing know-how
-Set goals and objectives.
These are just a few ideas, but cases will vary and there are surely other aspects to consider.
Community Manager
StartupNation, LLC
And many other options, please, tell more about "A network of people to help you out." What do you mean?
Every startupper needs advices for his website: SEO, analyse of UI design, hosting reliability...
Marketing advices: presentation of the products, prices, offers, the appropriate sources for promotion, what social networks to choose.
Financial advices: what business model to choose, to tell the laws for some special fields, accounting rules..
Strategic business plan
Defining your audience and ways to reach them
Plan for continuous business operation
Effective management
The foremost thing is a sound proposal. Having decided on proposal one has to explore possibilities of financing the same, may be with own or borrowed funds or both. The necessary machines,marerials along with manpower need to be put in place.
To be a successful enerpreneur, one need to have necessary drive and vision to put all factors of production to work and organise marketing thereof.
The success or failure of the position depends ultimately on marketing skills of the entrepreneur.
Make connections.
Have a good business model.
Educate yourself continuosly.
Make sure someone actually wants your products.
An early stage entrepreneur would need a tons, a whole list would appear if you google it. But one thing every one forgets telling people and it is the most desired quality to have to succeed in establishing a business, that is SHEER WILL POWER.
Now, the literal answer :
1. You have to have a PLAN/ IDEA that solves a problem statement in either direct or indirect way.
2. Research on any other company/ business providing a similar service/ product.
3. Execution methodology, i.e. the tools/website/supply chain or any other way to implement your idea.
4. Marketing : In the era of digital marketing, you can start off with digital efforts like SEO and then gradually shift your focus to SEM.
5. Feedback : You have to have a feedback loop for all your work. It could tell you about your input efforts and output you gain from it so that you can perform corrections and learn from your input, sometimes you may also get to celebrate seeing your feedback loop.
But do remember, To achieve all this, in fact to start with this you have to have sheer will power. That is where the game begins.
How about a section with success stories from your members that point out specific actions as takeaway lessons. Like training and support combined.
1. A specific business idea/plan
2. A network of people to help you out.
What else do you think entrepreneurs need?