You of course know about the celebrity entrepreneurs like Bill Gates of Microsoft, Steve Jobs of Apple Computers, very recently Mark Zuckerberg of Facebook etc. who have taken the business world for a storm. If you are envisaging to start up your own business and jump into the bandwagon of entrepreneurs, then here are fewimportant lessons picked up from the sack of experience; these would come handy during your entrepreneurial journey.

Offer Solutions

Being a business consultant, lots of people keep asking me to give them some new or hot business ideas which can bring in the big buck to their kitty. Keep in mind, your venture must provide a solution to something or someone. It must be conceived from the idea of reducing some pain or increase the pleasure for somebody! I would say, it is the power of observation combined with relentless quest for solutions, that brings out the best of business ideas and raise you to the podium with the distinguished entrepreneurs in the world.

Add Value

As per ‘hot’ business is concerned, I say, there is no ‘hot’ business as such; it is the ‘value-adds’ that you offer to your customersmakeyour business more sustainable than that of your competitors!Value-adds are basically meant to cast additional value for your products or services on and above its baseline value. This way you fling more value to the customers for the money they pay you.And you stand out to be the ‘most-preferred’ in the herd of competitors. Remember, it’s not you, but your customers should find value in your value-adds! Your value-adds could be complementary or non-complementary services, few added advantages or some extra benefits that are important to your customers. Some examples may be free shipping by a book seller, free-maintenance-offer for a limited period by a car dealer, arrangement for an onward journey by a travel company, 24 hours helpdesk support by a software company etc.If you have zeroed in on the right value-adds for your product or services and confident of pitching them as your USP (unique selling point), then you are already one step ahead.

Get Started

Action is the key to succeed! You have to start somewhere. The earlier the better. You just cannot keep planning and planning for infinite time and finally kill your fantastic idea through ‘paralysis-by-analysis’. Start acting on your vision now; don’t wait for a full-proof plan. You would eventually invent a better plan while on it.You need to be there, doing it fully involved to manifest your vision.

Believe in Yourself

You have to be prepared to walk through that difficult phase.No matter how small or big you begin, there would be challenges along your way when you strive to reach your goal.Nobody has seen his future; you could only act in the present to make an impact to secure your ‘perceived-future’! So you need to have loads of faith in yourself to take lot of important calls based on your gut feelings; but just make sure not to be whimsical anddelve into mindless pursuits in the name of gut feeling!

Choose your business

For an entrepreneur with limited resources, it is better to choose a business based on the line of your own expertise; pick something that you already know how to go about it. You can save valuable time by avoiding the learning curve. It would also reduce your uncertainty to some extent and you would get a much clearer view of the road ahead!

Go for your startup now. Dream big and be positive. Sky is not the limit. Bingo!

Comments