How to be an entrepreneur

On this page we will discuss the skill set that you need to be a successful entrepreneur, as well as give a detailed guide about how any normal person can start their own business in day to day life. You can also download a copy of the Business Model Canvas below; a crucial document for entrepreneurs which helps you build a detailed business plan.

Skills You Need to Be an Entrepreneur

There are four skills you need if you are going to succeed as a entrepreneur:

Intelligence: Having the knowledge to understand what key business decisions to make is vital.
Hard Work: You have to realise that you’ll be sacrificing a lot in starting a new business. Creating a company is time consuming and will likely mean you’ll have to cut down on social activities.
Innovation: Being innovative and creative is essential to finding a niche market in which your new business can thrive. Innovation helps to give your business a Unique Selling Point, crucial in rising above the competition.
Resilience: You must be resilient in order to put up with the disappointments that every entrepreneur encounters at some point during the process of starting a business.

How to start a business

Grab a pen & paper, and begin making a chart with all your business ideas (no matter how unrealistic or crazy you think they are). Carry on your normal day-to-day routine but at the end of every day try to add another idea to the chart. Once satisfied with the number of ideas on your chart, review each one and pick the three best ideas. Now fill out a Business Model Canvas (see below) for each idea. As these business plans develop, one will hopefully stand out as the obvious choice for your new business. Once you have chosen one, work on a more detailed business plan.

The Business Model Canvas

Below is The Business Model Canvas – an absolute necessity for anyone starting a business. It details clearly every section that one must think about for the creation of a new company; from cost structure to customer relationships. Download the canvas, print it out, and start planning your future business now!

Source: http://www.businessmodelgeneration.com/canvas

Finance & Recruiting

Now all you need is the finance to make your business a reality, and a good team to help your company succeed! Read our tips on networking & recruiting, as well as our page about how to fund your new business, for advice on how to best achieve this.

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