Are you a Budding Entrepreneur?

Are you looking to turn an idea or hobby into a business of your own?  Do you feel that you want to break out of your 9 to 5 job in order to achieve a fulfilling work life and above all to create the life style that you want to live?  Running a business is all about having a winning strategy and an overall plan for your business.

Entrepreneurship is the new ‘gift’ that people want to give to themselves and the legacy that they want to leave.  It encompasses more than doing something for yourself as it allows you to work with like-minded people and to live the life that you have envisioned for yourself. Do you have what it takes to bring your idea to the marketplace?

Listed below are Sarah Berry’s top 5 tips to help you to decide whether you REALLY have the makings of an entrepreneur?

1. Important questions

Ask yourself some poignant questions in order to determine whether you have the necessary entrepreneurial qualities within you.  Can you handle rejection?  Are you willing to pick yourself up when things don’t go your way?  Are you willing to reach out to people and ask for help?  Do you really believe that your idea is about helping people and improving the lives of other people?  Is there someone close to you who has the attributes that you may lack?   Do you have a role model who can help or advise you? Are you able visualise what things will look like in five years time?

2. The Need

Is there a need for your idea?  Do you have a strong feeling that your idea is needed in the marketplace?  Is your idea related to something that you already do at work and can you offer your product, service or consultancy by adding value to what you currently do?  If you have any doubts consider going to survey monkey www.surveymonkey.com in order to reach out to people in order to ask for feedback on your business idea.  The feedback may help you to gain an insight into the way to price your project or service.

3. The Money

Money is often upper most in the budding entrepreneur’s mind.  You will need a solid business plan in order to guide you to where you want to go.  A business plan helps you to start the habit of making plans and sticking to them.  Creating a business plan is easy if you have a financial background or if you follow on-line template or book.   However, as a general guide it is best to have between 6-12 months expenses for your business and for yourself as a financial reserve in order to avoid any unforeseen pitfalls.  In addition, design your business to be profit rather than revenue driven.  Seek out the services of someone who can write you a business plan and help you to start your business on the right financial footing.

4. Market your business

Marketing your business is essential if you want to attract new customers and contracts to you.  The easiest and simplest way to market your business is through your own network of contacts on-line through LinkedIn, Facebook or Twitter or through on-line freelance websites such as elance and peopleperhour if you are offering a professional service.  If you are making and selling a product you can sell your merchansie on-line through your own on-line store Etsy www.etsy.com  It is also important to have your own website and presence on Google.  WordPress is the new standard for websites as it has easy functionality and it is well-liked by Google.  To rank highly on Google you may need to invest in some search engine optimisation (SEO) work as it will help your potential customers find you easily.  It is always advisable to create your own website traffic by writing blogs or articles as the investment of time will help your business to grow for many years to come.  Paying for advertising gives your business a quick burst of visitors but it also means that you will have to continue to pay Google if you want to continue to receive traffic to your website.  Although generating your traffic takes a bit longer, it means that your business will continue to flourish.  Talk to renowned specialists in the SEO field that can help you in today’s market in spite of the threats of Penguin and Panda.

5. Adding Value

Adding value to your business is all about moving towards the critical mass stage. The stage when you feel that you don’t have to work so hard to get business in as your business is known as being an expert in its own niche or market. To add value to your business your job is to serve your clients or customers even better than they expected you to.  Look for ways to give them help, advice or information so that you become even more valuable to them.

If you would like to know whether you have the personality to be an entrepreneur you may want to fill in a career choice profile.  The profile will give you an indication of whether you have what it takes to walk your own business path.  Career Consultants has a team of business advisors, accountants and SEO specialists who are already working with people like yourself.  If you have a business idea that you would like to share with us or if you have a business and you are interested in taking to the next level, please email us at businesshelp@careerconsultants.co.uk outlining what you need and someone will contact you shortly.