Things Every Entrepreneur Should Focus on that Crucial 1st Year


Things Every Entrepreneur Should Focus on that Crucial 1st Year

Entrepreneurship can be defined as the process of planning, developing and running a new business, which starts off as a small scale company often called start-ups. So, an entrepreneur is essentially someone who manages any enterprise. In our country, whenever any new individual wants to launch his business, people never ask “WHAT”, like what is the idea, what can be the resources utilized, and what can be the benefits to the market and its consumers? But people in our country ask “WHY”, why entrepreneurship, why business, and why not take a job and earn? We cannot blame ourselves for this, as this has become our mentality. We are quite saturated in our approach to earnings.

Surely, there are many challenges in starting a new business, as well as maintaining it through the ups and downs of the market scenario. Just as the CEO of Robin Wilson Home, Robin Wilson quotes about entrepreneurship: “The one thing no one can teach you, the two R’s: risk and resilience.” Very rightly said indeed, isn’t it? But what exactly are the things an entrepreneur should focus on in the very first year; this question has to be answered. Here are few points which might answer this:

ENSURING AN EFFECTIVE SALES PROCESS:

The most important factor which will improve the business would be designing and implementing a very effective sales process which will help the company to convert the brand new customers into lifetime customers. The sales process must take into account all criterions and should have no risks involved. There should be slight transparency, and a big emphasis on urgency which might occur due to unusual market changes.

INTERACTION WITH NEGOTIATING CLIENTS:

Promoting business certainly requires loads of meetings with clients who offer you services which are required for your business, or you offering them services based on whatever your company has to offer. Sometimes meeting a lot of people can be exhausting and mentally tiring as everyone tends to have a different approach to money-making. One needs to handle this stress peacefully and try not to make decisions in a haste, which might affect the business as such.

CULTIVATE HABIT FOR RIGHT WORK ETHIC:

Never compromise with your work ethic by minimizing hard work once there is a considerable increase in sales. Big entrepreneurs have such massive money because they never let anything hamper their work. They work 15-16 hours a day, because they are passionate about this and believe in what they are doing.

BE BOLD ENOUGH TO TAKE RISKS:

Taking risks has obviously two consequences, just like a tossed coin: profit or loss. But that doesn’t mean one should be afraid of taking risks. One should understand the nature of business, and how things can go from great to worse in a very short period. But as they say; the mightier the risk the bulkier the reward. But why to put your business in jeopardy? This may seem very crazy to common men, but for a businessman these are calculated risks. Always be sure enough while taking a leap, or else you’ll fall.

END GOAL- A HAPPY SELF:

In the end, whatever you do should make you happy about yourself, and your work. If you are not happy about it, things would start reflecting on the business which will have more adverse effects on the mental conscience of yours.

Thus, these points are worthy of attention if you really want to setup a stable business and keep improving as time goes by. Entrepreneurship has its own merits and demerits, but you must be motivated enough to applaud the merits and consciously understand the demerits and plan and execute stuff accordingly.


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