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Do You Really Want To Be An Entrepreneur?
Written by:Article Overview: Of course you do, otherwise you wouldn’t be reading this. You’ve probably got an idea, you may have held onto the dream of working for yourself for some time – but how do you put them altogether?
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Do You Really Want To Be An Entrepreneur?
Of course you do, otherwise you wouldn’t be reading
this. You’ve probably got an idea, you
may have held onto the dream of working for yourself for some time – but how do
you put them altogether?
First of all you have to make sure that what you want to
sell is something that other people want, and more importantly will pay enough
of their hard earned dollars that you can make a profit?
Change the Dream to Reality:
Well first of all you have to have that great idea fully defined. Change it from a dream to an actual product. Get a prototype made or a fully working item
if you can manage and afford it. If you
have no idea what to sell then go and find something that no one else has but
everyone wants. Sounds difficult doesn’t
it? Well look to your abilities and
interests first. Go and visit some
forums, do some research on the internet and have a look on Yahoo Answers, eBay
and similar and see what questions people as asking and what is being
sold. You should get some ideas here.
Does Anyone Want It?:
Now you need to find out if anyone will buy your brand new widget. Go back to those forums, look at the relevant
magazines and newspapers, watch the news etc.
Ask people what they thing – not your family and friends they won’t be
brutally honest with you. Researching
the demand for your widget is very important.
Without demand you don’t have a viable business. Stay in the niches and out of saturated
markets or markets that are dominated my mega companies. You don’t have the marketing money to take on
the big boys just yet, but many people have made their fortunes with niche
products that make people say “Now why didn’t I think of that?”.
Working The Figures: Now you need to ensure that you are
successful – so you have to work the figures.
You need to work your potential profit, your overheads as well as out
the ROI – return on investment. Once you’ve
done this you know whether you have a viable business or not.
Now You Need To Work Hard: Starting a business is hard – very hard and you are
going to have to be willing to work long hours.
If you are used to be in the corporate world you are used to having
people to do things – in your new business that person is you. Work hard and soon you will have someone else
around to do the stuff you don’t want to.
Just keep hold of the reins!
Taking Calculated Risks: Most entrepreneurs
are not afraid to take risks. This does not mean that you enter a market with
eyes closed hoping for success. I have said calculated risks. You need to plan your business carefully, but
be ready to take advantage of opportunities that you may see. Similarly you need to know when not to take
risks and run for your plan B when problems arise, as they will.
Keep
Organised: Lastly you need to
organised, such that your customers get their products as they order them, your
bills are paid and your money banked.
You need to be organised enough to continually build your business and
chase new customers and markets.
If you follow these ideas you are well on the way to becoming a successful
entrepreneur. Good luck.
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Related Forum Posts
Young Entrepreneur Organization - All You Need To Know
- The Young Entrepreneur Organization (YEO) is a global community of entrepreneurs. This non-profit organization aims to make its members successful in their business through networking and training programs. This article tells you all you need to know about the Young Entrepreneur Organization, and the opportunities it makes available to young entrepreneurs from across the world.
Young Entrepreneur Organization: Facts.
1) The Young Entrepreneur Organization has 5,000 members in 35 countries across the world. 2) The organization was founded in 1987. Since then, it has helped many aspiring entrepreneurs with training facilities and getting in touch with the right people.
3) The average age of the members of Young Entrepreneur Organization is 34 years.
4) In order to be eligible for the membership of Young Entrepreneur Organization, you need to be under the age of 40; and be the founder or partner in a business that has annual sales of more than $1 million.
World Entrepreneurs Organization: A part of the Young Entrepreneur Organization, the World Entrepreneur Organization and takes the message of Young Entrepreneur Organization to many additional places around the world. This organization is especially active in the area of education and training for entrepreneurs.
Young Entrepreneur Organization: Objectives.
1) To foster entrepreneurship.
2) To support Young Entrepreneur Organization members by providing them the chance to network and grow.
3) To provide resources to its members so that they can benefit the economy through innovative business ideas.
4) According to Young Entrepreneur Organization, you get to share your story with those who have had similar experiences, and thus gain insight into the best principles of entrepreneurship.
Young Entrepreneur Organization: Facilities.
At the Young Entrepreneur Organization, you get to meet and share views with like-minded people and fellow entrepreneurs. In order to facilitate a free exchange of ideas and growth for its member, the Young Entrepreneur Organization provides the following facilities to members.
1) Forum: Join the forum of the Young Entrepreneur Organization and start networking with entrepreneurs from across the world. Each forum group has 12 members who come together regularly to share their experiences and discuss issues related to entrepreneurship.
2) Mentor: In conjunction with the World Presidents’ Organization, the Young Entrepreneur Organization guides and counsels young entrepreneurs through a mentor program by the best business leaders.
3) Social Innovation: The Social Innovators Program involves Young Entrepreneur Organization member who wish to do something for about social issues. It helps members become socially aware citizens and gives them the opportunity to do something for their community.
4) Marketplace: The marketplace allows members to post business offers and receive replies from other members.
These are just some of the facilities you will get if you become part of the Young Entrepreneur Organization. Others, like meeting prospective clients through trade shows, and special tools to network and meet with the right people are also part of the YEO facilities.
How to create BUZZ?
- As a small startup we need to be able to create Buzz around our product, but we haven't had tons of success. Despite being written up in the Toronto Sun, Metro News, Entrepreneur Start Ups Magazine and listed as a resource in Entrepreneur Magazine people in Toronto still don't know about us.
Any ideas on what I can do to get people talking? Preferable ones that don't have a large price tag attached? Any ideas would be appreciated. Our URL is included in my signature.
Re: Top 50 Lists
- Hi Evan,
How about "Top 50":
-Inventor Blogs To Watch
-Franchising Blogs To Watch
-Business Book Review Blogs
-Women Entrepreneur Blogs
-Young Entrepreneur Blogs
Re: EC Forum Badge?
- [quote="Evan":3r7km12d]I'm not sure I understand your point about the caps - you're saying everything should be capitalized except for Entrepreneur Forums?[/quote:3r7km12d]
This is exactly how I think it should be as far as capitalization...
[quote:3r7km12d]I'm a moderator for the Entrepreneur Forums, a friendly community of entrepreneurs.
Click here to learn more![/quote:3r7km12d]
Write ups not successful?
- [quote:2kry5vyo] Despite being written up in the Toronto Sun, Metro News, Entrepreneur Start Ups Magazine and listed as a resource in Entrepreneur Magazine people in Toronto still don't know about us.
[/quote:2kry5vyo]
At the risk of sounding cruel...which I do not mean to be... ifyou're getting those kinds of writeups, people in Toronto [i:2kry5vyo]must [/i:2kry5vyo]know about you. It might be that you're just not offering a service that the majority of them want or need.
Time to expand into other areas or just change fields entirely?
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