November 7, 2014

The Secrets to Starting a Business


entrepreneur-poster

Dreamers will always be dreamers unless actions are undertaken. Instead of passively dreaming of having that dream job or dream lifestyle, it’s time to get your act upon it! Turn your inspirations into motivations and motivations into actions.

The world is rapidly developing and changing. Everyone has almost what it takes to kick-start their own business, considering you have that passion and determination. If you really want a business of your own, here are a few things you need to do.

 

1. Do a SWOT Analysis

SWOT refers to strengths, weaknesses, opportunities, and threats. It’s always good to further analyse your business plan and concept thoroughly and rationally before plunging yourself right into it. On top of that, you might want to analyse your competitors as well. The better you know your competitors, the better you know how you can stand out from them.

 

2. Widen your Network by connecting with Local Entrepreneurs

Who will be at a better position to advise you, than the entrepreneurs who have went through the exact same phase and problems? Entrepreneurs are generally very encouraging and supporting when connecting with fellow entrepreneurs. Attend seminars or related entrepreneurship network events occasionally. Do not be afraid to ask, listen and even sharing your concept or thoughts. The point is not to strike solid friendship but to enhance your network as you would not know when you would need their help or when business opportunities may come by.

 

3. Invest in branding efforts

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What is the difference between a pair of running shoes bought from a neighborhood shop and one bought from Nike? Branding. Everyone knows big brands. What you hope for is to be remembered by your consumers. What do you want your consumers to think about your brand? Then craft it so that consumers see what you want them to see. For more branding articles, click here

 

4. Enhance your IT & Software Capabilities

Most consumers’ first contact with your brand is usually your website. Without an aesthetically pleasing and functional website that suits the nature of your business, it is almost difficult for you to attract and retain consumers. Given the advanced technological tools available in the market, it is not difficult for you to enhance your business technologically. At Edifice, we have helped many businesses enhance their brands and double their productivity with improved IT & Software solutions. Email us if you would like to enquire more.

 

5. Seek for Funding Opportunities

Without money (especially a large sum of capital), most business can’t work out. When dealing with rising expenses and a drop in profit margins, not much entrepreneurship can survive in this competitive business sector. Keep a look out for funding opportunities so that your business expansion can be made more successfully yet effortlessly. Check out 9 ways local SMEs and entrepreneurs can get more funding

 

6. Exhale Pessimism, Inhale Optimism

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We all have that one friend who judges you for your entrepreneurship spirit, bringing out the risks of working for yourself and highlighting the joy of having a steady job and stable income. Never share your passion with people who do not believe it. If you do, just don’t expect to find support or reassurance from them.

 

7. Write a Blog

Keeping a blog, be it a personal one or a business one, helps you with your business. You may ask, how? Gone are the days where consumers are educated by your advertisements or even the newspapers. Today, consumers seek answers from their peers or online. By constantly creating quality content that relates to your business, your consumers will look up to you as a personal figure behind your brand. People like to connect with people, not companies, not businesses. By giving your brand a personal voice, it adds credibility and relatability to your business.

 

8. Have the hunger to succeed 

There are two kinds of humans. Those who would work for others and those who would make other work for them. Not everyone is suited for Entrepreneurship. If you have the hunger and desire to succeed, no matter what, you will find a way to do it, and more often than not, you will succeed.

Push your limits to excel in whatever you are doing, and even if it fails, let others say ‘No’ instead. Never be the one to say ‘No’ to yourself.



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