entrepreneurial opportunities

How to Recognize Entrepreneurial Opportunities

Apr 18, 2018

What do businesses, investors, and entrepreneurs all have in common?

They’re all looking for the next best thing. They all want to get into a market before everyone else is also teeming to jump in.

Bad business opportunities can be discouraging and costly, so here are 4 ways to recognize good entrepreneurial opportunities.

What Makes Great Entrepreneurial Opportunities?

Well, that depends. Which field are you trying to enter?

Is it technology, medicine, website acquisitions, retail, etc.? Determine which category interests you, and that will help you narrow down the exact skills required within that field.

There are several ways to recognize great entrepreneurial opportunities no matter the field, and we list the top 4 below.

1. Stay Up-To-Date With Technology

Science and technology are on the top 10 list of fastest growing industries in the United States. You have to stay updated on inventions, cutting-edge technology, and see their potential in the market to succeed in the industry.

Even if you are not primarily focused on the field of technology, you absolutely need to stay in the loop concerning helpful technological innovations. These can help you not only discover new opportunities, but also succeed once you begin pursuing them.

I know it can seem intimidating at first, but once you discover these programs and how to navigate them, they can make a world of difference in your growing business.

2. Become an Expert

To sell something, you really need to know it.

You need to learn all about its strengths, weaknesses, and potential growth opportunities within whatever industry you ultimately decide to enter. Only with that knowledge can you predict the market and your product.

You absolutely do not want to be ignorant when a potential client or customer asks you a question, so stay knowledgeable on the topic.

3. The Product or Service Will Meet Consumer Needs

When you first stumble upon innovative opportunities, it’s easy to be so excited that you forget to ask the most basic question of business: does this product or service meet a need?

Ask the people around you if they think your product meets a need, and try Google Consumer Surveys to target your intended audience and gauge their opinions on the idea.

Is there already a competitor in the field? If so, are they meeting the needs of their base, or is there an opportunity to greatly improve?

4. The Timing Works Great for You and the Market

Amazing entrepreneurial opportunities will appear when both you and the market are ready for a big leap.

First and foremost, you should be in a location or have a location perfect for the opportunity. Plus you should have the resources to help the business succeed. This is the time to find business partners, investors, and other people and resources to help you pursue your goal.

Further, the market should be in a state where your business thrives. For some, this doesn’t always mean a booming market in your field, so take the time to research the market and a consumer’s ability to eventually purchase your product or service.

Final Thoughts

New, exciting entrepreneurial opportunities emerge all of the time.

It’s up to your keen eye, your location, and your availability of resources to determine which opportunity would yield the greatest chance of success.

To find out more, check out our blog for valuable information on business, entrepreneurship, and advertising.

speaking events

5 Tips to Prepare for Speaking Events

Apr 11, 2018

The fear of public speaking is real. Only 26% of the population actually loves speaking in front of large groups of people.

The other 74% of the people have speech anxiety. Some may be able to handle it, but they don’t love it. Some, however, get so anxious that they become physically ill at even the thought of speaking in front of an audience.

It’s obvious that most of the population dislikes public speaking, but that doesn’t mean it’s not important. For an entrepreneur, it’s an essential way to market yourself.

Check out these five tips on how to embrace speaking events to take your career to the next level.

1. Check Demographics

A great speaker must know who they’re speaking to, otherwise, how will they know the right thing to say?

You wouldn’t want to give a scientifically complex speech about quantum physics to a group of real estate agents. Not only do you want your audience to understand you, but you want to share information that interests them. To do this, you’ll need to make sure you know your audience before you even begin writing your speech.

Once you know your audience, they won’t feel so unfamiliar to you. Collect their demographics.

What is their age? What industry do they work in? Allow this to shape your speech.

2. Hook Your Audience

First impressions are everything, and the same is true for public speaking.

To hook your audience, you need to start with a big idea or statement that will catch their attention. It can even be an interesting question or story.

Instead of the audience focusing on you, they will focus on your words. A story will paint them a picture, and a question will force them to think. If they’re reflecting on your words, they have no time to judge you.

3. Make It Engaging

The hook should be engaging, but engagement goes beyond words. Try to incorporate visual aids, smartphone apps, or Q&A.

When you bring in visuals, make sure they matter. No one wants to listen to a boring regurgitation of Powerpoint slides they could read themselves.

Additionally, how you use body language or move around the stage can increase your engagement.

4. Practice, Practice, Practice

In the movies, they always show people practicing in front of the mirror. While this is a good way to start, effective practice goes beyond this.

Once you’ve got the words down, practice that engaging body language and stage blocking that you plan to use. Then, get a mock audience of your peers to watch you. It will help calm your nerves to simulate the environment of speaking events.

5. Get Some Inspiration

Finally, look to some public speaking pros for guidance. You don’t need to know them personally–even watching a few TED Talks will do!

Conquering Speaking Events

Public speaking is not easy. You’re all alone on stage, facing dozens of strangers. If you do it right, however, it can be extremely rewarding–both professionally and personally.

If you’re looking for more ways to expand your career, make sure to visit my blog.

why entrepreneurship

Why Entrepreneurship is Not for Everyone

Apr 4, 2018

The Harvard Business Review referenced a study conducted by New York University on why entrepreneurship aspirations in college students dropped by 85% after participating in a summer business camp.

Over the course of the camp, students got an up-close-and-personal look at the ins and outs of being a business owner. The pitfalls, the risk, the struggle, and the deferred rewards.

Tasting the reality of owning a business versus just paying attention to the seductive idea of it put things into perspective for these students. If you’re thinking of becoming a business owner, you should follow their example.

Why Entrepreneurship Isn’t for Everyone

There is a common misconception that becoming an entrepreneur is the end-all-be-all of being successful. “If you’re clocking in and out of an office every day, it’s only because you don’t have the gusto to make it on your own.”

That idea is untrue.

The reality of owning your own business exposes you to incredible risk on a daily basis. You’re always plugged into it, possibly not getting to enjoy being off work by 6 pm or having weekends off.

If something goes wrong with your business, you’re on call.

But if you view the idea of needing to be plugged into your business not as a bad thing, but as something that’s empowering in that it speaks to your importance, you aren’t alone.

Many entrepreneurs feel that their constant attention means the opportunity pour every bit of their passion and expertise into their work. That’s not something you’ll always find when working for a separate company. If you share that feeling, keep reading.

Having More Money Versus Having No Money

A lot of people feel that the only way to make good money is by becoming a business owner when in reality, over half of small businesses fail by their fifth year, often leaving in their wake financial hardship.

When you consider that reason as to why entrepreneurship can be difficult financially compared to working a typical job where paychecks are consistent, the value of working for somebody else seems clear on the surface.

Looking below the surface however, consistency in pay often means stagnation. When working for somebody else you are at the mercy of your manager for a raise. When you own your own business, you are at the mercy of yourself.

Entrepreneurs embrace the idea that while risk is substantially higher as a business owner, the sky is the limit on returns.

Those Are Just a Couple of Reasons Why Entrepreneurship Isn’t for Everyone

Other frequently cited reasons in addition to the points outlined above include:

  • Lack of recognition for your efforts
  • Lack of teamwork if you’re a “solo-preneur”
  • Lack defined structure in your day

If you look at those points and think to yourself that you don’t need recognition to stay inspired, that if you work hard a team will follow, and that you enjoy crafting your own structure – business ownership may suit you.

What’s the Main Reason You Should Become an Entrepreneur?

People should become entrepreneurs if they see no other alternative that could truly fulfill them.

If building a business is a burning desire you have in your heart, then go for it. Do it for the passion first and the rewards second.

Remember, if you’re looking for money there are easier ways than entrepreneurship to find it.

If you’re looking for recognition there are easier ways than entrepreneurship to get it.

If you’re looking for success there are easier ways than entrepreneurship to go about it.

But if you’re not looking for easy and are a builder at heart, brace yourself. Creating a business can be an incredible challenge but the rewards can be extraordinary.

For more business-related articles, read more on the Rafferty Pendery blog.

digital entrepreneur

Becoming a Digital Entrepreneur: Top 5 Tips

Mar 28, 2018

Are you thinking about quitting your job to become a digital entrepreneur? You may be onto something. The average entrepreneur in the United States earns over $170,000 a year and the opportunities to make money in the digital world are growing every day.

As attractive as this may sound, it’s far from easy. You’ll face many challenges and there will be times when you want to throw in the towel.

However, if you’re serious about your passion and are willing to put in the work, success is totally possible. These five tips will help you get started.

1. Get Your Finances in Order

Before you leave the world of traditional employment, you must get your finances in order. Pay down your debts and save up a sufficient emergency fund. This lifestyle rarely comes with a steady paycheck, so you’ll need enough of a cushion to get you through the short times.

2. Learn as Much as Possible

A great idea isn’t enough to ensure your success. Take the time to read as many books and blogs as you can and seek out the advice of those who have already succeeded at building their own digital empires.

Knowledge is power. Enroll in an online class, listen to podcasts, and talk to anybody who’s willing to share their experience.

3. Set Up Your Site

You can’t be a successful digital entrepreneur without a strong online presence. You’ll need an attractive website that’s optimized for speed. If you’re not an expert at website development, it’s well worth the money to outsource this critical task.

Once your site is live, test it to ensure it’s mobile-compatible.

Work with an SEO expert to help ensure your potential customers can find you with a simple online search.

4. Develop Your Idea

Spend some time really diving into your idea to make sure it’s viable. Use online surveys and focus groups to further narrow it down until you’re sure you’re on the right track.

Conduct online research to learn about similar products or services already on the market. Determine your appropriate price point and develop a clear profile of your ideal customer.

5. Market Life Your Life Depends on It

One of the biggest mistakes entrepreneurs make is failing to market enough. You’ll need to take steps every day to boost your brand and build up your social media following. Eventually, you’ll want to go one step further by exploring other tactics like paid advertising or guerilla marketing.

A Final Piece of Advice for the Digital Entrepreneur

Once you’ve achieved success, it’s important not to rest there. Always look for ways to diversify your business and stay on top of the newest developments. The digital marketplace is constantly changing, and complacency can be your downfall.

Your new business endeavor will definitely not be easy, but it’s also likely to be one of the most rewarding things you’ll ever do.

Are You Ready to Take Your Business to the Next Level?

Thriving as a digital entrepreneur requires constant effort. It’s not easy to stay on top of everything you need to know, and new information comes out every day.

Explore my blog to learn more about marketing, entrepreneurship, and other business topics all in one convenient location.

social media specialist

4 Telling Signs Your Business Need a Social Media Specialist

Mar 21, 2018

Having trouble keeping up with social media?

Wondering if it’s time to hire a social media specialist?

There’s not a lot of debate about social media these days. Most businesses have realized that it can be a great tool for promoting your brand and an essential marketing tool for getting more sales.

However, there is still a lot of mystery surrounding social media and many businesses still have trouble managing it well. If this is true for your business, it may just be time to get a specialist involved.

Below we’ll look at the 4 telling signs that your business needs to hire a social media specialist immediately.

1. Social Media Distracts You From Other Tasks

Let’s face it. Social media, while being a great marketing tool, can also serve as a big distraction. If you or another team member has taken on social media duties on top of other tasks, it can be a problem.

If you find that social media has taken important time away from other pressing business needs, you may want to hire a specialist.

A specialist will be able to devote 100% of their time to social media, instead of just a small part of their day. This can really improve the impact of your social media efforts.

2. You Have Trouble Connecting With Your Audience

If social media is only one of the tasks you or another team member focuses on throughout the day it can be hard to truly get it right. You may not have the expertise to create the posts that really get a lot of engagement. It may be hit or miss at best.

A specialist will be able to get to the heart of what your audience wants on social media and can identify what types of content they connect with. They can also spend their day replying to customer comments and questions.

Additionally, a specialist will also know the nuances of each platform, whether it be Twitter, Facebook, Instagram, or any other social media platforms.

3. You’re Inconsistent

Social media may be the last thing on your to-do list for the day. It can be easy to simply cast your social media tasks aside and put them off to the next day’s to-do list. And then the next. And the next.

Inconsistency with social media is one of the most common social media mistakes businesses make. Inconsistency can lead to much smaller returns and engagement from social media.

A social media specialist can improve your business by post consistently. They’ll even be able to recognize what the best times of day are for posting to your audience.

4. You’re Behind on the Latest Trends

Social media is always changing and new trends are arriving all of the time. If social media isn’t your main focus you may easily become overwhelmed trying to stay up-to-date on all of the latest trends and happenings.

Trends become even harder to keep up with when each social media platform is so different. Trends on Twitter, Instagram, Facebook, and Youtube all vary and aren’t usually aligned.

Social media specialists know this and work hard to keep up with trends. This increased knowledge and insight can help your business become more effective and engaging on social media.

Making the Decision to Hire a Social Media Specialist

While it can be hard to make that initial decision to hire a specialist to manage your social media, it will likely improve your business more than you realize.

A specialist can save you time and money and can boost your social presence in many ways, helping you to build a greater community around your business and get more sales.

Need help developing your social media and marketing strategy? Have questions or comments? Contact me today to learn more about what I can do to help your business succeed.

give a speech

How to Give a Speech That Keeps Your Audience Engaged & Entertained

Mar 14, 2018

When the topic of public speaking comes up, it’s clear that most people aren’t comfortable talking in front of crowds. Some may even dread it! There are likely two key reasons for this.

First, people are afraid to look foolish in front of others. We may feel like if we don’t know what we’re talking about, we’ll get a bad reaction.

The second reason is a bit more subtle. We’re hesitant to speak in front of crowds because we feel they may not care.

If you’re struggling with the latter, this article is for you. Here are a few tips to help you give a speech that’s both entertaining and engaging.

Know Your Audience

The first step to giving a great speech is to read the room, i.e., understand who you’re speaking to.

Every speech has a target audience, and it’s important that you know your audience ahead of time, as your speech should ideally be tailored to the crowd.

Your audience will determine the tone, language, and even length of your speech. Therefore, get as much information on your audience or event ahead of time as possible.

The better your understanding of your audience, the likelier it is you’ll give a good speech.

Inject Your Personality When You Give a Speech

Truthfully, it doesn’t necessarily matter how well-written your speech is if you don’t have the charisma and charm to back it up.

Yes, it’s important that a speech is well-crafted. But it’s even more important that the speaker uses their personality to keep the audience engaged.

Don’t be afraid to ad lib, make last-minute adjustments, or gesture. People are social creatures by nature, so body language like smiling or gesturing may seem simple, but they’ll take you a long way.

Trim the Fat

As a general rule of thumb, it’s a good idea to revise your speech as much as possible. Think of it like drafting a paper.

Your rough draft is simply about getting your ideas on paper. Self-editing will only get in the way, so save that for the primary editing stage.

Next, you’ll refine and edit as necessary. During this stage, clear up any rough or unclear ideas. Maybe find a few sources for your information, too, to make your speech more authoritative.

By the end, you should have a short, concise speech.

Use Visuals

If you’ve ever been in a long meeting, you know that peoples’ minds tend to wander after just a few minutes. Don’t take this as a slight, it’s just how our minds work.

But that doesn’t mean your speech has to bore your audience to tears.

When you give a speech, you can combat wandering minds by incorporating visuals. Charts, graphs, really anything you can think of.

As they say, a picture is worth a thousand words, so be sure to incorporate visuals.

Last Thoughts on How to Give a Speech That’s Engaging and Entertaining

Giving a speech is hard work, no doubt about it. But these tips should give you all the advice you need to make a great speech that your audience is sure to love.

Want to learn more about the entrepreneur lifestyle or public speaking? Be sure to check out my blog for more great tips to help you become the next big thing.

how to become a public speaker

How to Become a Public Speaker (And Feel Comfortable Doing It!)

Mar 7, 2018

Becoming an entrepreneur and starting your own business is an exciting proposition, but it can also be a risky one. The media tends to glorify the success stories, but the reality is that the majority of new businesses don’t make it past the first year.

In order to stand out from the crowd and become part of the successful few, there are certain skills that every entrepreneur should master.

Public speaking is useful for anyone in business to master, but it’s especially important for entrepreneurs. As you begin to get your idea off the ground, you’ll be presenting to investors and sharing at conferences. You want to come across confident and knowledgeable.

For those who don’t have a lot of practice, public speaking can seem intimidating, but it shouldn’t be.

Below, we’re providing some key tips on how to become a public speaker. Read on to learn more.

1. Take a Public Speaking Course

There’s a perception that the confidence to be a good public speaker is something you either have or you don’t. In reality, public speaking is a skill like any other, and it can be taught.

If you’re really serious about utilizing public speaking as a tool to grow your business or share your entrepreneurial idea, consider taking a public speaking course. A local college or community center may offer one.

The first step to becoming a great public speaker is realizing that it’s not something only certain people can do. Everyone can become a great public speaker with the right tools.

2. Practice

The best advice for how to become a public speaker is also the most obvious. You have to practice. Find different environments to challenge yourself, and eventually, you’ll become comfortable speaking anywhere in front of anyone.

Start by yourself, delivering a presentation in front of a mirror. Work up to speaking in front of friends and family, and then try to find some smaller, local conferences or meetings that you can get on the agenda for.

Eventually, you’ll be prepared for everything, from presenting to one potential investor in an office, to delivering a speech to hundreds.

3. Be Prepared

If you’re new to public speaking, improvisation is your enemy. Certain professionals may be able to get up in front of a crowd and wing it, but you should try never to put yourself in that position.

You don’t want to sound like you’re reading from a script, but you do want to be prepared with what you plan on saying.

Try writing out a detailed outline of all the important points you want to hit. You can even draft a few sentences that you’d like to say verbatim, and memorize them.

That preparation will give you something to draw from if your nerves start to get to you, and will keep you on track throughout your presentation.

Want to Learn More about How to Become a Public Speaker?

The more practical tips you have for becoming a great public speaker, the more confident you’ll be in your ability to accomplish that goal. being able to deliver a great presentation or share a speech can help you achieve your entrepreneurial goals.

For more tips on how to succeed as an entrepreneur, please contact us at any time.

small business ideas for students

Making College Worthwhile: Unique Small Business Ideas for Students

Feb 28, 2018

You’ve moved away from home, you’ve got your own place, and now you’re on your own. College is an exciting time, to say the least, but it can also be quite expensive.

Therefore, it’s important that you make the most of your time in college by taking what you learn in the classroom and putting it to use in practical, real-world scenarios.

If you’re interested in making a bit of money and beefing up your resume at the same time, this article is for you. Here are a few unique small business ideas for students to help you make college more worthwhile.

Tutor Fellow Students

Even if you don’t consider yourself to be the strongest student in the world, there’s likely a subject in which you excel in. Sure, you could simply do the bare minimum and get an A, but you can use your brain to make some money, too.

If you talk to fellow college entrepreneurs, you’ll likely come to find that many students choose to tutor their peers for a bit of extra income.

Find a topic that you’re comfortable with and start teaching others.

Advertise your tutoring services around school and online to drum up a bit of business. If you want to start out with a truly competitive edge, you can even offer a referral discount.

Create a Blog

Believe it or not, the blogging world is still as profitable as ever thanks to social media and affiliate marketing. In fact, if you’re diligent about your blogging, you can even make a decent living for yourself.

Use a tool like WordPress or YouTube to create a free page for your blog and start uploading content.

Let the world know about yourself and your college experience. If your blog takes off, you may even qualify for product sponsorships.

Freelance

Of course, you may not have an interest in creating your own personal brand. You may want your content posted to pre-established blogs and sites instead.

If that sounds like a better idea, consider freelancing.

Best of all, there are ways to freelance for just about every skill. Whether you’re a graphic designer, writer, web designer, or videographer, freelancing is a great way to make a name for yourself in your favorite field.

Create an App

Technology is burgeoning like never before thanks to creative startups and entrepreneurs. What better way to make your mark on the world than by creating your very own app?

Find a need that isn’t being met and come up with a creative way to meet it with technology.

It may sound difficult, but remember, Mark Zuckerberg was in college when he first created Facebook. You’ve got this!

Try These Small Business Ideas for Students

By trying these small business ideas for students you’ll improve your skills, have a stronger resume, and above all else, learn something about the world.

If you’re looking for great tips on how you can make the most of your entrepreneurial skills, be sure to follow my blog, or get in touch!

smart entrepreneur

Smart Entrepreneur Tips for Women Growing Their Brand

Feb 15, 2018

Are you a female entrepreneur?

Women are becoming powerful figures in the business world, but every business needs to make sales and create a reputable brand. Entrepreneurship can be scary, but women need to know tips to expand her business.

Times are changing in the business world. There are more success factors to consider than just waking up early and wearing a pants suit. Entrepreneurial success depends on your state of mind, your work ethic, and your goals.

Here are a few smart entrepreneurship tips to grow your brand.

To Be A Smart Entrepreneur Know Yourself and What You Want

This seems pretty standard, but it’s easy to lose yourself in life. When you become distracted, you begin to lose your purpose.

Always take time out of your day to think. Sit in a quiet room and think about what you want.

Feel free to write your ideas in a notebook. Think about your long-term goals but also your short-term goals. Write these down, and include any ideas on how to achieve these goals.

It’s easy to think about your clients, your business strategy, and other practical business ownership factors. But you should never lose yourself and why you started this business.

You’re Exchanging More than Money

A lot of entrepreneurs become business owners to make more money and escape the 9-to-5 lifestyle.

When their business becomes successful, they make the focus about money. This is a major mistake — a smart entrepreneur exchanges more than money.

When you communicate with clients, you’re exchanging a relationship. When a client walks into your store, they feel your energy and your presence. When you thank your client, you’re expressing empathy and giving them your heart.

If you’re only in the business of receiving, you shouldn’t be an entrepreneur. Business owners start a business to exchange. And this exchange is more than money and services.

Build Relationships

When do you truly connect with another person? This is a tough question to answer because you can connect with someone anywhere. You can meet someone at a concert, online, through a friend, or at school and work.

You won’t become best friends with every customer.

But attempt to build a lasting relationship with each customer. It’s easy for women to hold back a friendly smile or engaging conversation, especially with men. But personability may be the key to build lasting brand awareness.

Relationships don’t stop with customers.

Build relationships with your connections, employees, and investors. Always communicate with these people and find networking opportunities. By building a professional community, you’ll always have a support system.

Become a Smart Entrepreneur

Female business owners are sending a powerful message. In the wake of misogyny, women can make a difference. By being a business owner, you’re exchanging services and communicating with like-minded individuals.

Entrepreneurship isn’t about selling the best idea or creating the best products. You’re standing tall as an independent woman who’s willing to provide for customers and colleagues.

For more entrepreneurial advice, visit our resources.

entrepreneurial resources

Entrepreneurial Resources for Women to Utilize for Their Business

Feb 8, 2018

Being a woman in the business world is difficult. That said, there has never been a better time to do it. The percent of women CEOs of Fortune 500 companies is still small, but it’s on the rise.

As a female entrepreneur, there are plenty of entrepreneurial resources at your disposal. Taking advantage of these groups, communities, and investors can give you a step-up on the rest of the field.

Educational Resources

For many, the first step toward successful entrepreneurship is education.

Whether it’s tech, finance, or business development, these organizations focus on empowering women through educating them on their preferred area of focus:

Women’s Business Center

With over 100 Women’s Business Center locations across the US, you’ll doubtlessly find one near you that can help grow your business.

The Small Business Administration funds these educational centers. TTheir goal is to create an even playing field for women in business.

Tory Burch Foundation

The Tory Burch Foundation gives women monetary and educational support for their business. They offer the chance to earn capital as well as offer an informative business management program for women.

If you join the Tory Burch Fellows Program, you’ll get the chance to gain support, a 10,000 reward, and the opportunity to create a pitch for a 100,000 grant.

Ernst & Young Entrepreneurial Winning Women

The Ernst & Young Entrepreneurial Winning Women helps female entrepreneurs through education, networking, and other events. They also focus on helping women-owned businesses with $2 million in revenue grow their business as quick as possible.

Investment Opportunities

There are several foundations and organizations that help women secure investments for their company. If you come to them with a good idea and viable strategy, chances are you could walk away with some seed money.

SoGal Ventures

SoGal Ventures, as the name suggests, is a female-focused venture capital firm.

They know what it’s like for women in the business world, and want to help female-led startups with initial investments.

Female Founders Fund

The Female Founders Fund is another company that invests in businesses run by women.

This organization focuses on the technology field, so if your business falls into this category, take a look at them.

Women’s Venture Fund

Women’s Venture Fund is another of the entrepreneurial resources that help fund women-owned businesses. They assist women with advice, technical problem solving and funding.

Specifically, this organization targets women who run businesses in urban communities.

Entrepreneurial Resources for Women

There are countless entrepreneurial resources out there for women, and these are only the tip of the iceberg.

Although it can be tough to navigate the business world, there’s a long list of allies with educational resources, information, and the capital to make your dream a reality.

You don’t need to try to run your business on your own. Networking is one of the most important elements for any entrepreneur. Grow your professional circle and advance your business by using the above resources.

Want more information about anything an entrepreneur would need to know? Take a look at our blog!

entrepreneur mistakes

Common Entrepreneur Mistakes You Need to Avoid

Feb 6, 2018

Succeeding as an entrepreneur isn’t easy. In fact, first-time business owners only have a 16% chance of succeeding in the business world.

Why do so few entrepreneurs succeed? It’s because they fall victim to common entrepreneur mistakes that cost them both personal and business success. If you want to make it big as an entrepreneur, you’ll need to avoid these entrepreneur mistakes and be smart about how you approach your business.

Entrepreneur Mistakes You Need to Avoid

Success as an entrepreneur isn’t just about passion and talent. It’s about following the right practices and avoiding potential pitfalls that could undermine your efforts. Here are some basic mistakes you need to avoid:

1. Thinking You Can Do It On Your Own

One of the biggest entrepreneur mistakes you can make is taking on too much. Just because you know your product, and are arguably the most passionate about it, doesn’t mean you know how to run a business. Taking it all on alone will result in burnout and blindside you to any shortcomings your product or business effort may have.

You should surround yourself with people who are knowledgeable about your product and the competitive field you’re trying to break into. You should also have an experienced consultant or mentor who can give you perspective on your business and product market.

2. Not Setting Attainable Goals

It’s okay to be a dreamer, but if you want to succeed you need to devise a list of business goals you can actually accomplish. If you only think about the big picture and don’t set short-term and long-term goals, you will ultimately fail. So, set specific goals, come up with a list of ways to accomplish them, and be flexible enough to change them if you have to.

3. Hiring the Wrong People

As a business owner, you’re only as good as your employees. So, the last thing you want to do is hire people who are unqualified, or unable to accomplish the things needed for the business to succeed. Avoid hiring unqualified family and friends, and try to find people who support your product and vision.

You can set your business up for success by hiring talented and experienced employees who can help get you to the next level. It may be tempting to hire cheaper employees to cut costs, but hiring unqualified employees is a huge mistake that will only hurt your business in the long run.

4. Think Your Product is Unique or Unlike Anything Else

Many entrepreneurs fail because they believe their product is unlike any other one on the market. But the reality is, you most likely have many indirect or direct competitors who already have brand awareness and a loyal consumer base. Not acknowledging them, and failing to identify your niche will result in your ultimate failure as an entrepreneur.

What you need to do is identify that there is a consumer need for your product, and then determine how it’s different from similar offerings. By knowing how you’re different, you can sell your product in a way that will speak to customers.

Final Thoughts

If you want to succeed as an entrepreneur, you need to be smart about how you approach your business. And while it may be tempting to turn to these bad behaviors, doing so will only hurt your business efforts in the long run. By avoiding these common entrepreneur mistakes, you can get one step closer to accomplishing your business dream.

Are you an entrepreneur? Have you ever fallen victim to these common mistakes? Let us know in the comments!

innovative entrepreneurs

Tech Trends Innovative Entrepreneurs Should Invest In

Feb 1, 2018

As Bitcoin, Ethereum, Litecoin, and other cryptocurrencies continue to break records, just about every media outlet is calling them a surefire investment. Along with currencies, there are lots of other technology trends that are breaking new ground and becoming even more valuable.

Innovative entrepreneurs should always be looking to support other investments and ventures to diversify their wealth.

Once you’ve built a great business or product, investing in other technology can not only increase your wealth but support other tech innovators. Following tech trends is not only fun, but it can inspire new ideas for your own company and keep your products at the cutting edge of tech.

If you’re looking to start investing, check out these 5 tech trends that are making waves all over the world.

1. IT Re-Engineering Processes

As businesses grow and change, technology aids in finding new and efficient ways of completing everyday tasks. Technology solutions have revolutionized hiring, asset management, and payroll systems. Who knows what other ways the workplace can be re-engineered for the future?

By modernizing the infrastructure and architecture of IT departments, research and delivery systems can be revolutionized. Using the IT restructuring capabilities of the future, every department in just about every industry could see a boost in productivity.

2. A No-Collar Workforce

Automation and artificial technology will redefine the roles of workers in the future. While some portion of the workforce will need to be retrained to understand this technology, others could be replaced or have their roles reinvented.

There will be decades of hybrid human and machine workplace development. Innovative entrepreneurs will be on the ground floor of these developments as they happen. New HR approaches and software could help to handle a dispersed workforce and help to complete cognitive tasks in completely new ways.

3. Enterprise Data Accessibility

In every company, hours of manpower and possibly hundreds of thousands of dollars are invested in data research. Understanding how all of this data can be used will continue to be a part of business development practices.

What we will see in the coming years are new ways to structure data and use it to help with automation. Machine learning takes into account vast amounts of collected data and notable errors to find ways to improve processes.

Software and hardware focusing on machine learning are a great place for entrepreneurs to start investing.

4. New Customer Experiences

The way that customers interact with products and technology will change the field of customer service. Whole industry ecosystems–take car services and taxis, for example–could be upended in new ways.

Customers could be interacting with tablets and mobile interfaces when they visit fast food restaurants. By taking control over your own ordering and customization, human error is eliminated and food waste is greatly cut back on.

Changing the customer experience can send shockwaves through every industry.

5. Augmented Reality

Virtual reality and augmented reality technologies are changing the way that users are seeing the world. By adding a layer of history, context, or marketing efforts to a virtual space, experiences of products and public space could be changed forever.

Innovative Entrepreneurs Keep Their Ear To The Ground

Understanding that the capabilities of every technology are explored through experimentation means that tech may not be fully formed when you encounter it. If you can begin to understand the possibilities for a new concept, you can begin to imagine how valuable it can be in the future.

To better understand the tech landscape, check out our guide to 5 things every tech entrepreneur should know.