Entrepreneurship, it is a big deal today. Everyone seems to have a plan to start their own business, giving rise to a FOMO(Fear Of Missing Out).
As it is said, entrepreneurship is rather for risk-takers, in this case, enthusiasm with no grounding nor testing or clear research about your new business ideas could leave you with empty results rather an emptier wallet. For one to succeed and strive in the world of entrepreneurs today, there are a few tips and tactics you need to know. Development is in most cases is assumed with huge investments during field testing and research. I bring you a more realistic approach to entrepreneur start-up and field approach.
Research, the reason for this is that you might be able to spot certain shortcomings or blind spots in your competitors, you don’t have to reinvent the idea but adding some different things to it can dramatically improve the basic concept. It is very important to conduct research before you invest time and money in your company, research the market to determine whether you have a chance to succeed. It is important to have research to study your sales potential and competition which is the simplest way for entrepreneurs to learn about market trends and sale opportunities.
Share Your Ideas
I know the feeling; you have thought of an amazing new business idea and you are reluctant on letting the big secret out. As much as you could use the feedback, the thought of someone stealing your idea is too painful to even consider. And so, you keep it all to yourself like attaining a website, logo, and all other startup essentials only to find that your idea flops hard. Believe it or not, sharing your idea further develops it and rather reduces the chances of idea theft. Sharing it is safe.
Pitch Your Idea to Fellow Entrepreneurs
A circle of entrepreneurs is always open to new ideas and always enthusiastic to help a fellow or start-up entrepreneur. As an entrepreneur, always try to pitch your idea to fellow entrepreneurs, as experts in the field, they can truly help you flash out the details and come to a clearer understanding of your business potential. With this engagement, you might be surprised how willing other business people are in a known on the latest and great trade secrets, after all, it’s what entrepreneurs do for a living. As ingenious as you think your idea is, you might be surprised to learn it already exists out there somewhere but don’t panic instead of using this as an excuse to give up, use it as an opportunity to remould your idea to greatness.
Use of Social Media:
Social media is forward-moving. It is one of the powerful marketing tools that most entrepreneurs are embracing and taking advantage of to move their business to the next level. Social media gives you an opportunity to hear from what your customer prospects are interested in; it can also help you find out if your potential competitors are delivering a better service than your planning on delivering. Social media groups, your target market is just a few clicks away in online groups. Join forums and social media groups or Facebooks and ask them about your intended offering. start joining a startup incubator or accelerator program is a great way to connect with other entrepreneurs and get access to their business resources.
With the four tips shared above, your new idea will turn to great success with less or zero investment as it looks on the outside.
Author: Ms Sharon Nantanda
Programs officer SELF