What it Means To Be An Entrepreneur & How To Get Started

market and product research

For many of us starting our own business is the ultimate dream. We crave freedom, creative control, flexible working hours, and of course the bragging part that comes with being an entrepreneur. But before you understand what it means to be an entrepreneur there’s a lot of work involved behind the scenes. Much of becoming an entrepreneur is about planning, strategizing, and dedicated execution.

When starting on the path of entrepreneurship first ask yourself, are you ready to face the daunting and difficult challenges? Are you prepared to face the high failure rates? Are you ready to commit to this for at least 2-3 years? If the answer is yes to at least two of them then we’re here to lead your way and tell you what it means to be an entrepreneur.

State Your Niche, Claim Your Idea

First things first, start with a solid idea. The idea that will set you apart from anyone else. Start exploring everyday problems that your friends, family, and other target market are facing. As most entrepreneurs state, the most innovative startups are simple solutions to everyday common problems. Decide if you can improve and serve an existing service. The goal here is to claim a space in the market and differentiate yourself from the competition. To gain that place, as always you have to do the market and product research and then pick your one niche.

If you’re unsure of doing all the legwork alone you can also consider taking help from marketing researchers and consultants.

Find The Best Profitable Product

The product you choose will be the core of your business whether online or offline. Although the perfect product may not even exist, there are ways to minimize the risk of product and niche selection.

Is your product only your passion and idea or is it an actual real solution to a problem? Either of the scenarios is beneficial. And an additional benefit is that when you invent products to serve one of these requirements you don’t have to worry about marketing because your potential clientele is already seeking out a solution. Not only this, but find out if the idea you’re going to work on is a trend, fad, or a growing product. Having a clear understanding of where your product lies plays a huge role in the success or failure of the idea.

Secure Funding

The next tip we have to lead your way in understanding what it means to be an entrepreneur is funding. You have a plan and a product now before launching your business. It’s time to secure your funds. You will need secure funding to start and keep running your business. Depending on your product and market competition you can go with different options:

  • The first attempt you can try for initial funding is from friends and family. Trust levels are high and you might not even have to pay the high-interest rates. But of course, this will completely depend on the wealth and assets of the people you know.

  • Next up would be venture capital (VC) firms and angel investors. Both quickly provide a large amount of funding to startups.

  • Next, what we have for small businesses are grants and loans. These investments are different from VC and angel investments. Loans need to be repaid over time with a particular interest rate, while grants are for certain conditions such as having minority or underprivileged status.

Launch Your Business

To understand what it means to be an entrepreneur don’t overthink things, everything can be accomplished by the right steps of action. You have everything planned, set a date and launch your business. Set up a checklist for the launch day. You will also want to ensure marketing activities, social posts, target audience, and customer support and you’re ready to go. Try and spend your time and effort in serving your best.

Launch and connect your business with the best in the industry, Picktime. Picktime is a web-based appointment scheduling software. From Doctors and Medical to Spiritual Services to universities use Picktime and expand your business with zero limitations. Using Picktime you get a personalized booking page to handle staff scheduling and your appointments at multiple locations. With Picktime you can add staff and students, and custom fields and you also get free unlimited records and storage. Get 24×7 email support, automatic email & SMS reminders, waitlist and attendance, and weekly reports of your business activities.

And wait there’s more, integrate with your favorite apps – PayPal, Stripe, Skype, GoToMeeting, Jitsi Meet, CRMs, Wix, Weebly, Drupal, WordPress, Instagram, Google Maps, Facebook Pixels, Zapier, and many more. What are you still waiting for, sign up for free today!

Become A Student of Entrepreneurship

Why do you think practical learning is more important? You’ll learn more about the business and market when you launch your business than you will in a business class. To compete and succeed, become a permanent student of entrepreneurship. The more time you dedicate to learning, the more you’ll understand what it means to be an entrepreneur. Choose a mentor, take courses, take help from books and podcasts, and email newsletters. Go with whatever method works for you, just make sure to never stop learning.

Being an entrepreneur is no easy path. It takes months and years of hard work and ingenuity to not pan out in the long run. However, with your ideas and persistence, you can reach the top of your game. After all, failure is just an uncertain phase.

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