3 Common Entrepreneur Mistakes You Don’t Want To Make

Mar 4, 2020

It’s no secret that it’s challenging to start your own business. After all, if it were easy, everyone would become an entrepreneur in the blink of an eye. That doesn’t mean entrepreneurs aren’t ready to put up a fight.

Despite the fact that 22.5% of small businesses fail in their first year, there are still some 15 million Americans who are self-employed and working full-time. So what can you do to become one of the successful full-timers?

Here are three of the most common mistakes new tech entrepreneurs make when they’re just starting out and how you can avoid making these mistakes yourself:

  1. Not having the necessary skills. It’s one thing to be anxious about what could go wrong and another to be anxious because you don’t know what you’re doing. You never want to start your own business without having the necessary skills to successfully run it. Remember, to be a tech entrepreneur, you not only need to have tech skills but you also need to have the business skills to maintain your plan.
  2. Misinterpreting your market. According to a U.S. Bank study, up to 82% of businesses that fail do so because of problems with cash flow. Whether it’s poorly gauging the demand, overestimating costs, or appealing to the wrong target market, you can break your business by misinterpreting your market. Make sure to do the necessary research before you poor your finances into your business model.
  3. Confusing goals for strategy. Goals are great, but if you don’t have a strategy for how to reach those goals, then you’re setting yourself up for failure. Strategies tell you how you’re going to get from Point A to Point B. Once you’ve established a realistic goal for your new business, make sure to sit down and create a clear and direct roadmap for reaching that goal.

Wondering how to become a tech entrepreneur? You’re not alone. In fact, there are approximately 582 million people currently working as entrepreneurs around the world.

The good news is, if you’re looking for tech entrepreneur tips and advice, you’ve come to the right place. For more information on how to start a business and how to become a tech entrepreneur, contact Rafferty Pendery today.

tech entrepreneur blog

How To Use A Tech Entrepreneur Blog to Succeed as an Entrepreneur

Mar 4, 2020

A tech entrepreneur blog can help you to elevate your online presence. One of the most common entrepreneur mistakes is not building a positive reputation online and establishing yourself as an expert in the field.

A lot of entrepreneurs stay focused on the bigger things like finding a business partner, financing, and other pressing matters and let the tech entrepreneur blog kind fall to the wayside. Staying on top of your blog can help in avoiding entrepreneur mistakes.

What’s The Deal With Blogs?

The internet plays a tremendous role in every industry but a critically important role in the success of tech startups. Blogs are used as a way to share information, solidify your expertise, establish authority in the field, and earn follower’s trust.

A tech entrepreneur blog helps you to connect with other businesses, a client base, and keep your skillset relevant. They can be used for a wide range of communications.

What Should Your Blog Do For Your Business?

The amount of information that is shared on a blog is limitless from sharing videos of a highly respected international speaker in your field to teaching people how to become a tech entrepreneur and everything in between.

Your blog has a few key roles including:

  • Establishing your expertise in the area and networking with other businesses.
  • Providing a communicative forum for clients where they can learn and get information.
  • Selling your business through informative content that is engaging.

If you are in the tech industry it is expected that you will have things to say about the industry and that the level of your expertise is such that you can help other people with their tech questions. A blog is an excellent way to do both.

Another benefit of having a blog is being able to free up time. Answering questions, addressing comments and “meeting people” through a blog is a lot less time consuming than fielding phone calls and rifling through emails. Blogs work both ways, you can spread information and you can also gain information. Commenters can deliver information you can use. You can build a network of support for your business.

Don’t Miss This Important Step In Establishing Your Business

There is no denying the power of the internet when it comes to marketing, having a tech entrepreneur blog can help you to take advantage of all those benefits. Reaching a wide audience without having to actually speak to anyone is easy with a blog. Start your blog today.

4 Tips for Hesitant Tech Entrepreneurs

Feb 26, 2020

With limitless possibilities and new businesses popping up every day, the world of tech can be overwhelming. Getting your feet wet as a tech entrepreneur is a hugely intimidating task. Still, as scary as it might be, it is important to remember that it’s not impossible. Keeping in mind the following entrepreneur tips can give anyone who is learning how to become a tech entrepreneur the leg up that they need to succeed in the business of their dreams.

 

Take A Leap of Faith

This is the scary part. Taking the first step in any process is the hardest part. Still, when it comes to starting your own business, it can seem like you’re putting everything on the line with no guarantee, make no mistake, you are! There are no guarantees, but without taking a leap of faith, there can’t be any success either. Realize you are not alone, with about 69% of entrepreneurs in the United States start their business from home you are in good company. Taking a risk is how things happen, and realizing early on that as a tech entrepreneur you’re going to have to take risks every day is an important step when trying to enter the startup phase.

Use Your Strengths, and Know Your Weaknesses

Understanding what it is that makes your idea and your company so special is a valuable skill when becoming a successful tech entrepreneur. However, just as important as understanding your strengths is understanding where you and your business may fall short.

For example, let’s say that you know your platform is exceptional. But, you’re not a confident public speaker, lean into digital marketing as much as possible, and work on your public speaking in the meantime. Or better yet, if your company has the resources to outsource the “face” of the company to a more confident public figure, do exactly that, and do so with pride in using your strengths while knowing your weaknesses.

Learn from Your Mistakes, and Welcome Feedback

Completely avoiding entrepreneur mistakes is a task that will quickly reveal itself as impossible. With that in mind, it is important to realize that learning from the inevitable mistakes all entrepreneurs make is an invaluable talent when learning how to start a business.

Along with mistakes comes to feedback, and with feedback comes the inevitable pushback of constructive criticism. It is crucial if you are going to be successful as a tech entrepreneur to welcome feedback of all forms. Whether the feedback you receive is good, bad, or in between, it must be accepted if you’re going to be successful as a tech entrepreneur. It is critical that you accept entrepreneur tips and feedback if your business is going to succeed.

Stay Informed

Like all things in the modern era, tech is an everchanging field, and it is easy to fall behind on the latest trends. Unfortunately, in today’s business climate having a good platform and the smarts to back it up isn’t enough.

For a business to be successful, the people behind the scenes must stay up to date on current trends, successes, failures, and the newest technology. Staying informed can come via an entrepreneur tips blog or even understanding the mistakes of other entrepreneurs in your field. No matter how you keep your business up to date, it is crucial to stay informed!

In Summary

Starting any business is an incredibly challenging task, and a tech business is no different. Still, as long as you keep in mind the fundamental entrepreneur tips outlined above, you are off to a running start. There’s no easy way around hard work and perseverance, but with a strong head and a persistent mind, success is right around the corner for you. Take the risk, realize your dreams.

the digital entrepreneur

How to Succeed as a Tech Entrepreneur

Feb 7, 2020

Startups, especially in the tech industry, begin and die every day. In fact, approximately 20% of small businesses never make past their first year, while another 50% never make it past the five years mark. The good news is that you don’t have to be part of these statistics. You can be part of the 80% of businesses which make it to the second year. How do you succeed as a tech entrepreneur? The tips below will help you learn what you need to do to succeed in the dynamic world of the digital entrepreneur.

Work on Your Public Speaking Skills

As the digital entrepreneur on the quest to find success, you will at some point need to pitch your ideas to a potential tech entrepreneur partner or an investor. You will also need to introduce your product to potential clients. The only way to get them to buy into your ideas or have confidence in your product is by explaining what you bring to the table.

You need to convince them that your ideas, products, and services will be worthwhile. You cannot do so if you are a poor public speaker. You cannot achieve that if the thought of presenting your ideas to a group of strangers makes you cringe.

Start working on your speaking skills today. People who fear to speak in public often make 10% less than those who exude confidence during public speeches.

Focus on Your Strengths

The thin line between the digital entrepreneur and one who fails lies in how the two individuals handle their strengths and weaknesses. A successful techpreneur often capitalizes on their strong areas and outsources the weakness to experts.

As a result, their product or service ends up being reliable as the weaknesses it could have had were it handled by experts. Those who fail, on the other hand, try to juggle it all.

While it’s okay to believe you can get things done and overcome your weaknesses, trying to do everything singlehandedly is one of the most common entrepreneur mistakes, and also one you should avoid if you’re to become a success.

Surround Yourself with the Right People

As cliché as this may sound, it’s a proven fact that those who you surround yourself with can make or break you. If you are constantly surrounded by a bunch of pessimists, regardless of how optimistic you are, it will be difficult for you to achieve your goals as they’ll always discourage you.

You’ll probably not want to keep going after the first few tries as they’ll not give you the encouragement you need during the early, difficult stages of tech entrepreneurship.

On that note, surround yourself with people who motivate you, and those who support you and keep you on your toes constantly. This is the only way you’re going to propel yourself from ideation to fruition as a digital entrepreneur.

Read a lot

The tech industry is highly dynamic and with each dawn comes a horde of new ideas which disrupt not only tech, but also the entire business realm in general. While your skills and talents are great, the only way to learn what is coming up and create disruptive tech ideas is to read wide.

Read on current and upcoming trends, tech challenges, success stories of tech moguls, and the revolution of technology. This will give you exposure and help you become more innovative. Read books both hard and soft copies, tech entrepreneurship blogs, and always be on the lookout for insightful tech entrepreneur resources.

Remember there’s Nothing Like Overnight Success

Creating a legacy for yourself, especially in the ever-changing tech industry as an entrepreneur is a feat not meant for the faint-hearted. It calls for creativity and comes with a lot of discomforts, uneasiness, and ups and downs.

Successful techpreneurs like Bill Gates and Mark Zuckerberg had to start from scratch. While they are at the pinnacle of success today, they’ve had countless setbacks. In that light, as an individual looking for tips on how to succeed as a tech entrepreneur, you need to keep in mind it won’t be easy. Therefore, be flexible to changes, be ready to make mistakes and learn from them, and remain consistent.

2 Top Marketing Tips To Help Launch Your Digital Presence

Jan 29, 2020

Every tech entrepreneur knows that running a business is hard work. In fact, of all small businesses started in 2014, only 80% made it to the next year (2015). With everything you have to do, avoiding entrepreneur mistakes can be difficult. So if you’re new to the tech entrepreneurship game, or simply just looking for advice on how to elevate your marketing strategy, check out these two top tips.

Utilize Social Media Marketing

Over 244 million users were logging in to their social media accounts by the end of 2018, and that number is only projected to rise. It is for this reason that incorporating social media platforms into your digital marketing strategy is strongly recommended. There are three main routes you can choose from when developing your strategy, or that you can combine into your strategy. These three options are:

Content Marketing:
Content marketing involves making a social media account for your business or brand, and regularly posting content. Posts can include tutorials, how to videos, customer ratings, advice on how to use your product, informational graphics, etc.

PPC Social Media Ads:
Depending on the brand you’re creating, you may decide that having a social media account just doesn’t make sense. If you don’t want to commit to content creation, consider using social media for targeted ads. Similar to creating ads for websites, you can customize who your ads appear for, and the specific call to action you want them to make. You can even have multiple images in an ad, and add price tags and brand info directly to the post.

Influencer Marketing:
If you decide to go for a middle strategy, you could create adds and pay micro influencers to help market your brand. This would involve paying social media influencers to talk about and review your product or brand and giving their audience a call to action.

tech entrepreneur

Implement SEO Best Practices

SEO, or search engine optimization, is all about increasing the likelihood of searchers finding your website. There are three basic SEO strategies you should be implementing into your marketing strategy. These include:

PPC Ads:
Pay per click ads are ads that you pay for only when a consumer clicks on them. These can be used for social media, google ads, and in your retargeting strategy if your website has a selling platform. PPC ads are broader than social media ads, as they can be placed anywhere on the internet.

Strategic Use Of Keywords:
Keywords help search engines understand what your website is about, so that it can better match your site to search results. Having a tech entrepreneur blog is a great way to incorporate more keywords that are relating to a variety of topics on your page.

Inbound Links:
Inbound links are links to your website that other sites are using. Google for examples assumes that you are a more credible source of information if you have a lot of inbound links to your website, and thus will rank your site higher in search results. Getting other sites to link to your website can happen organically, especially if you have an informational blog thread. You can also email webmasters and ask sites to link to your page if you think their platform could benefit from your information.

Final Thoughts

Taking your brand online is a necessary step if you want to be successful in today’s economy, but it can be stressful trying to figure where to start. However, if you follow these top two tech entrepreneur marketing tips, you’ll have a high traffic website in no time.

Answers to Two Common Entrepreneurship Questions

Jan 20, 2020

Being an entrepreneur is hard. This is why one of the best things entrepreneurs can do is get out there and ask questions. Whether you’re specifically looking for tech entrepreneur advice, or you just need general tips for entrepreneurs looking to avoid common entrepreneur mistakes, these questions are bound to be relevant to your endeavor.

entrepreneur mistakes

How Do you Come Up With Ideas?

The workings of inspiration largely remain an enigma to us all. Often, ideas can seem simply to materialize from thin air. But those who have extensive experience in the business of coming up with ideas inevitably have some tricks up their sleeve. A common approach is combing through one’s own life for areas in which one needs assistance.

If you find a daily problem in your life — or even something rather rare or niche — and there doesn’t seem to be any solutions available, there’s a good chance you have a business idea with real potential on your hands. Don’t stress if the issue you’re addressing feels too specific; there are so many people out there, some are bound to have had a similar experience.

How Do you Choose the Right Business Idea?

Anyone who has come up with a business idea knows, the first thought that appears in their head will inevitably be, “Is this idea actually good?” Sadly, if this question had a simple answer there would be far more business owners out there. However, there are a number of key questions you can ask yourself to maximize your chances of success:

  • Does this idea sufficiently match my interests?
    One of the classic entrepreneur mistakes is choosing to work on an issue that does not personally move them. You can have a great idea, but if pursuing it would make you miserable, there is no point. You must find a degree of joy in your work, or else it will not be sustainable.
  • Do I possess the skills necessary to pursue this?
    One of the best things an entrepreneur can do to increase their chances of success is leverage skills they already have. If you feel like you are out of your element when working on a project, you’d better do your research!
  • Can I feasibly start this project given my situation?
    Numerous personal factors can impact the success of a new business venture. If you have an amazing idea, but you live nowhere near the region where the market for your idea exists and you cannot relocate, it may not be the right time. Entrepreneurship is not just a financial investment — it’s a personal one. Finances do play a highly significant role in a venture’s success, though. In fact, a study by U.S. Bank found that 82% of all business failures were the result of problems with cash flow.

For more tips on avoiding entrepreneur mistakes and starting a successful venture, visit raffertypendery.com

How to Impress Event Managers by Being the Next Best Paid International Speaker

Jan 15, 2020

Would you like to be a paid international speaker to share your insights with audiences all across the world?

Rafferty Pendery is a public speaker who started as an entrepreneur. He founded his first company when he was only 11 years old. He has partnered with NASA, the Canadian Space Agency, as well as many other companies, from small to top Fortune 500 businesses.

Today, Rafferty is a paid international speaker who is sought after by businesses for their marketing events. Event managers are always looking out for people who can inform and entertain their audience. If you want to be a keynote speaker, you need to understand it from the event manager’s perspective.

All About the Image

In the United States, you can be paid anywhere from $2,000 to $30,000 for your speech, depending on your clout. A paid international speaker may be a celebrity, top entrepreneur, or athlete who can demand a fee well over $50,000.

Event managers view the money they pay these personalities as an investment. When they consider different speakers for their next event, they tend to pick those who can bring a good return on their investment.

Also, event managers look for people with an image and message that will resonate with their audience. Even though you may have clout, if your message does not align with the event, you will not have as much of an impact. Therefore, an aspiring paid international speaker should do a lot of research on the platform they want to share their stories.

paid international speaker

Telling a Compelling Story

In public engagements, stories should be simple yet compelling. Some of the information you share will be complex and boring in its natural form. Many people tend to be anxious when speaking in public. That includes more than 58% of lawyers who are often introverts.

But anxiety is not always the issue; rather, it is one’s ability to weave a narrative and captivate the event’s attendees. International public speakers with experience can tell a nondescript story by adding plot twists and mysteries. They can take on any topic like finding a business partner, or how to become a tech entrepreneur. They then break it down into a narrative that is easy to understand and remember.

Show How Your System is Effective

Another critical aspect of public speaking is how you demonstrate the efficacy of your system. Even though your online marketing or entrepreneurship model may be useful, you may present it in a way that does not resonate with your audience.

A paid international speaker should show how the system will work in a different economy with varying demographics. It is one of the areas that you need to research. Otherwise, the audience will ignore the message.

You can improve your speech by finding the right type of presentation. There are four different types.

  • Informative: The goal of the presentation is to reinforce or expand on existing information. It is used by experts and industry players.
  • Instructive: The presentation aims to provide the audience with practical information they can use in their day-to-day life. It often involves hands-on workshops to teach attendees how to use a new application or tool.
  • Inspirational: Inspiration is used by motivational orators who want to influence people with their ideas. The most powerful tool for paid international speakers is great storytelling.
  • Entertainment: The presentation not only employs information through public speaking, but it often includes performances such as comedy or musical arts.

You may check your presentation with your colleagues, friends, or peers in the industry before showing it to the public. If you run a tech or entrepreneurship blog, consider giving out some information to test your audience’s reaction and to bring in more fans.

Bottom-Line

Becoming a paid international speaker involves a lot of work in terms of research and writing compelling stories. However, the work also has many perks, which can include visiting new places around the world, influencing people, and of course, making money doing something you love.

how to become a tech entrepreneur

3 Myths About Starting Your Own Tech Business

Jan 10, 2020

Several tech entrepreneurs have become celebrities in the recent past. Thanks to the media covering them extensively and sometimes sensationally, they continue to inspire awe and admiration. Since the advent of the internet, this breed of businessmen and women has been on the rise. They have become larger than life, taking the same rank on the food chain as rock stars and Hollywood actors.

Unfortunately, these fancy news stories tend to contribute to myths on how to become a tech entrepreneur. The characterization of their personalities sometimes distorts how people perceive the tech sector and its function. This article looks at some of those misleading ideas that can derail your journey as you plan your tech venture while offering some tips on how to succeed as a tech entrepreneur.

how to become a tech entrepreneur

Myth 1: As boss, you can do what you want

Part of the misconception on how to become a tech entrepreneur is the idea that being your own boss makes life easier. That is probably because most high-profile people in the technology business seem to have an easy time. It may seem like all the heads of tech companies do is to give orders.

However, it is one of the critical entrepreneur’s mistakes to jump into this career simply because it seems greener on the other side. You need to remember that business requires a lot of work and planning. During the initial stages of the startup, the head of the organization must be careful not to neglect the core responsibilities. That means you may have to work for longer hours than you did at your previous job.

You should commit fully to making your idea a reality. It will involve a lot of research, understanding the market, setting up the business, and finding a business partner. That is why it is always advisable to start an initiative that revolves around something you truly love. Passion will keep you going when the journey gets tough.

Myth 2: You need a completely unique idea

Another myth on how to become a tech entrepreneur is that you need a completely new idea for the market. As they say, there is nothing new under the sun. Many of the earth-shaking ideas that have taken over the technology industry today were innovative tweaks to existing products.

Some of the most successful startups were set in motion by observing an existing gap in the market. For example, Lynda Weinman was teaching web design when she realized her students could only access bland and plain textbooks. She began working on Lynda.com to provide online tutorials that were more engaging. She would later sell the company for $1.5 billion to LinkedIn.

You can also combine a set of skills to address a pressing need. For example, Shutterstock founder Jon Oringer was a software developer who enjoyed photography as a hobby. He used his collection of photos to start a stock image website that is now worth more than $2 billion.

Myth 3: You have to be a reckless risk-taker

Another myth on how to become a tech entrepreneur that tends to discourage aspiring businessmen is that you need to be continuously taking risks. Statistics show many small businesses fail within the first five years. One major cause of failure is lack of planning and cash flow problems.

You need to have a clear outline of your plan that is within safe limits of risk. Do not be tempted to use your mortgage or all your life savings to start a business. It may sometimes be wise to delay quitting your full-time job before you can properly establish your startup venture. Indeed, risk-taking is an important part of running an enterprise. But manage these risks wisely so that you can effectively steer your business through the hard times.

Entrepreneurs can get caught up in the fantasy of being the CEO. To avoid this pitfall, focus more on the nuts-and-bolts of your business, rather than fancy ideas about your business. That way, you will have the right mindset, which will help you avoid myths, misleading notions, and common entrepreneur mistakes.

entrepreneur tips

How To Secure Funding As An Entrepreneur

Dec 18, 2019

Once you have thought of that once-in-a-lifetime idea and have researched how to become a tech entrepreneur and how to start a business, the first step you will need to take is securing startup funding. Richard Harroch, a venture capitalist, has said, “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

For instance, many new businesses require funding for legal work, logo design, and other expenses. Figuring out the best way to fund your business can be difficult and there are many entrepreneur mistakes you will want to avoid.

Entrepreneur Tips

It often requires a great deal of capital to turn your dream idea into a real business, but you likely do not have thousands of dollars lying around in savings or know others who are willing to gamble away their hard-earned cash. These are a few entrepreneur tips for those looking to raise money for their small business.

Bootstrapping

Most entrepreneurs start by self-funding, a method also known as bootstrapping. Regardless of the amount, there are numerous benefits to investing in yourself. In the future, potential investors will like to see that you incurred monetary risk. Many entrepreneurs bootstrap further by forgoing a salary, tapping into their retirement savings, and taking a side job to earn a living while their business is in its early stages.

Friends and Family

If your friends and family are willing to help fund and grow your small business, this path can provide several advantages. Family and close friends are often willing to invest in their familiarity with you as a person, while larger investors often require evidence of an established and profitable company. Over 30% of startups receive funding from family and friends, totaling over $60 billion every year, more than angel investors and venture capitalists combined, according to Upcounsel.com. To avoid common entrepreneur mistakes, make sure you have a written agreement that outlines the terms and conditions of these investments.

Crowdfunding

Crowdfunding has recently and rapidly become one of the most popular ways to fund a small business. To be eligible for crowdfunding, you must be able to offer a product, service, or incentive in exchange for a small amount of funding. Since this is viewed as a pre-sale instead of an investment, contributors do not receive equity and the process is not regulated by the SEC. However, equity crowdfunding is an option as well, which allows you to receive small investments. This means your contributors will become shareholders with dividend and voting rights as outlined in your agreement.

Practice Public Speaking

Many entrepreneurs overlook the importance of public speaking and presenting when funding their small business. Along the way, you will likely have to develop and utilize your skills as a public speaker to give presentations and pitch to potential funders. But don’t sweat it, research has found that content is not nearly as important as delivery during a speech or presentation. Surveys have found that content only accounts for 7% of a good presentation. Therefore, it is important to practice the fundamentals of effective public speaking, such as talking points, knowing your audience, eye contact, appropriate pace, and rehearsing. Non-verbal communication accounts for 55% of an effective presentation, while voice accounts for 38%.

Most people are eager to be involved in something special. If not, they can be easily convinced. By utilizing your skills as a public speaker and avoiding entrepreneur mistakes, these entrepreneur tips will help you fund your business and achieve your dreams.

Do You Have What it Takes to Be a Tech Entrepreneur?

Dec 12, 2019

Did you know that having a fear of public speaking can have a significant negative impact on your career? In fact, those who fear being a public speaker make 10% less on average than those who don’t.

If you spend your time browsing tech entrepreneur blogs and reading books about such titans like Bill Gates and Jeff Bezos, chances are you dream of being a tech entrepreneur yourself.

Of course, the reality is that most startup entrepreneurs will not go on to become rich celebrities. And reading every tech entrepreneur blog out there won’t change this.

This is not to say that you shouldn’t reach for the stars as an entrepreneur. Whatever your passion is, you should pursue it with all your heart to achieve the best that’s possible for your happiness.

But those are the critical key words: passion and happiness.

Like any automobile, a startup can’t run on fumes for very long. You’ve got to have lots of “gas in your tank” to keep your business going through the tough times: inspiration and passion. Those may sound like airy-fairy words, but if you’ve ever tried accomplishing the impossible, you know their importance.

Building a business, getting rich, and taking over the world take enormous energy and conviction. Not only must you legitimately love what you’re doing (or at least why you’re doing it), you must also be 100% convinced that you can succeed — and that it will be worth it.

Of course, there will always be those people who seem capable of pushing them through difficult times with nothing but their ego to drive them. But these are the exception, not the rule. So before you get up from reading tech entrepreneur blogs and books, ask yourself the following questions to better decide if tech entrepreneurship is really where you belong.

Do you have a passion?

Too many people who get into entrepreneurship have only one thing driving them: the desire to escape a job they hate. They feel like they’re trapped inside their cubicle, and they want out. The problem with these people is that they aren’t inspired by any particular product or service idea. Without a specific, tangible dream, they won’t be able to uncover what they do want.

Being a tech startup entrepreneur is like being a professional artist. You can be a hobbyist while you work your day job, but if you want to go full-time, you have to be completely dedicated to the dream. It’s not a backup plan or a job alternative. It’s a completely new, radical, no-holds-barred lifestyle. As Wayne Sermon from Imagine Dragons has said, “You don’t do music, unless you have to do music.”

If all you want is a steady paycheck that doesn’t require you to work the same awful job every day, then there are other ideas that will get you there faster. Investing or building a lifestyle business might both be effective means for getting your freedom.

If you want to be free, don’t become a tech entrepreneur. Like musicians, you only get into tech if you have to do tech: because you have a burning desire to make an idea a reality.

Can you handle the entrepreneurship lifestyle?

There are really only two qualifications for getting started as an entrepreneur. The first is having the passion. This will get you through any roadblock. The second is a willingness to put up with the discomfort.

Starting a business is hard, and tech business may be the hardest there is. That doesn’t mean it won’t be enjoyable. If it’s right for you, you’ll find it incredibly exciting. But it’s also incredibly taxing.

If you need streaming services, organic food, and featherbeds in order to feel comfortable, entrepreneurship is not for you. If you can deal with anything in pursuit of a dream, then it might be a good fit.

This is step one for how to become a tech entrepreneur. This should help you realize what’s right for you.

entrepreneur tips

Understanding Entrepreneurship And The Mistakes To Avoid

Dec 7, 2019

Ask random people on the street whether they are entirely happy with their jobs. Most probably you will get you one, almost unanimous, answer from most. A resounding “No!”

A good number of your interviewees will try to sound optimistic. However, the bottom line is that most people, especially Millenials, find a nine-to-five job dreary. It turns out that job satisfaction has more to it than a good salary. It may be convenient being able to pay your bills on time but merely working to pay your bills is draining.

Furthermore, having money to splash around does little to help attain an ideal work-life balance. The goal of this article is, therefore, to present entrepreneurship as an alternative to employment. It should avail useful entrepreneur tips to anyone with a genuine interest in starting a business.

Common Entrepreneur Mistakes

Becoming an entrepreneur and starting a business can seem like an easy way out when you are part of the employed workforce. However, starting a business has never been a bed of roses.

entrepreneur tips

A recent study conducted by a major U.S. bank has revealed the real situation surrounding modern-day entrepreneurial ventures. Over 82% of small and medium-sized business startups fail within the first few months due to cash flow problems. However, this outcome should not impede your resolve to become an entrepreneur. The entrepreneur tips discussed below will help you avoid some entrepreneurial mistakes that have led many to failure.

1. Competitor Blindness

Except in very rare and exceptional cases, there is a painful reality that entrepreneurs fail to accept when it comes to business ideas. This is the fact that in most cases, there already exists a company or business that has applied the same concept or solution to the problem you’re trying to solve.

Unfortunately, many entrepreneurs have blindly believed that their product or service is unique or infinitely better than existing offerings. Sadly though, these two assumptions have been the most significant contributors to startup failure.

One way you can avoid this common entrepreneurial mistake is by carrying out thorough and comprehensive research on your intended product or service. You can obtain loads of valuable entrepreneur tips on entrepreneurship blogs, startup podcasts, and other online resources. Be sure to also carry out actual street-level research for a comprehensive picture of market potential.

2. Starting Big

Another common mistake made by startup business owners is the unwillingness to begin at the most basic level in their chosen niche. For example, if you have an improved shoe design idea, then the most basic level for your venture is creating and selling just a single pair. You get to learn a lot from just prototyping one shoe, outsourcing its manufacture and then getting a customer willing to buy it. Unfortunately, most entrepreneurs begin by taking jumbo loans to invest in shoe-making machinery.

A successful startup is not founded on money alone but actual, sometimes physical, hard work.

3. Impractical Marketing Strategies

The digital age necessitates that a business embrace technology from the get-go. This means creating a website for the business, coming up with a blog, being active on social media, and so forth.

All this might be convenient for a tech entrepreneur, but it can be overkill when starting out in some business niches. For example, if your product is confectionery, then physically marketing your product at local events is a practical way to attain a viable customer base. As your business grows, you can then opt to make use of online marketing platforms.

4. Lack of Backup Cash

Establishing financial backup comes last in this list of top entrepreneur tips. A startup business will face an initial period of high day-to-day running costs before it begins generating any revenue. These costs will include rent, workers’ payroll, paying suppliers, and many other critical expenses. This is why you need to set up an account exclusively dedicated to meeting the daily monetary obligations of your business. Once your business breaks even, you can then allocate the resources in your backup account to expansion and other business aspects.

In Conclusion

Entrepreneurship remains the only route for those who want to realize true freedom, both in their work and their social life. If you are in this category of free-spirited people, then this article could act as a guide for your entrepreneurial ambition.

tech entrepreneur

Diversity In Entrepreneurship: Why It’s Important And How You Can Promote It

Dec 4, 2019

When you were an aspiring entrepreneur, you probably had a role model you looked up to. Whether it is was a parent, coach, or an established business person, this person likely motivated you to become the entrepreneur you are today. If you’ve been looking for ways to return the favor and become a role model yourself, check out these quick entrepreneur tips on how you can promote diversity in the world of tech entrepreneurship.

Why Diversity Is Important

Thinking that diversity is just a number in your business’s hiring statistics is a mistake. Having a diverse team can lead to higher levels of team creativity, more innovative ideas, and a healthier work culture. By having people from different backgrounds and different experiences, you will also be able to capture more of the market and avoid marketing pitfalls. Take luxury fashion house Dolce & Gabbana for example. In 2018 they aired an ad in China that portrayed a Chinese woman having difficulty eating pizza and spaghetti with chopsticks. This ad offended many Chinese people and even caused Dolce & Gabbana to cancel their upcoming Shanghai fashion show. If their marketing team had been more diverse, however, this could have been prevented with additional insights from Chinese employees.

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How Diversity Promotes Innovation

In addition to helping you avoid making common entrepreneur mistakes, diversity can help tech entrepreneurs create more innovative ideas. People from different backgrounds can look at the same problem and collaborate on how to attack it. This can also help you find consumer patterns you might otherwise overlook by pulling from multiple perspectives.

How To Promote Diversity In Tech Entrepreneurship

The very first thing you need to do is delete the phrase “a voice for the voiceless” from your vocabulary. If you consider yourself to be a strong public speaker, this is especially important because, generally, people aren’t being honest when they use the phrase. When advocating for diversity, it is important to let marginalized people speak their truth. Use your voice to amplify their perspective, not to override their existence.

According to data from Kauffman, 40% of new entrepreneurs in the U.S. are now women. So if you’re trying to promote entrepreneurship in young women, for example, your audience will be better served if they hear about this topic from a woman who is killing the entrepreneurship game. If you’re looking to provide resources to underprivileged communities, consider talking to the people who live in that community before making any decisions.