Jul 18, 2021

Extraordinary Tips To Become A Successful Entrepreneur

Extraordinary Tips To Become A Successful Entrepreneur

 Are you tired of listening to others? Are you tired of taking orders? Do you wish to become your own boss? Well, if this is the case then you definitely have a soul of an entrepreneur residing within your body.

Yes, the idea is tempting to quit your job and to start something of your own. However, things are never this easy. In fact, if you look at the stats, then you will realize how difficult and challenging it is to startup and sustain a business. Around 40% of the businesses fail during the first year and almost 90% of them do not live to see the light of the day after a decade. So, to put it simply, the stats are clearly telling us about how difficult it is to create a business and keep it running.

Now, whenever you will think about starting a business, you will have your own barriers. Some people have responsibilities, which they have to fulfill, and starting a business would mean putting those responsibilities at risk. Some people have steady jobs and while most people love the idea of working for themselves, when it comes to quitting, they simply cannot do it. The fear of not being able to make a steady salary is enough for most people to let go of their plans.

Starting a Business & the Risks that come with it

Let’s say you have an amazing idea to start your business. However, it is just in your mind. Most people make the mistake of not getting it down on paper. Therefore, they simply cannot comprehend the risks, which they will have to face during their initial stages. Furthermore, not writing everything up will also make you oblivious to the fact of the shortcomings in your plan.

Now, if you are starting your business without adequate planning, then you are simply jumping into a sea of opportunities like a blind person. You wouldn’t be able to see any of your own weaknesses and not being able to see your own weaknesses will lead you to make bad or wrong decisions.

Risk is another name for a business. Without risk, there are no profits. The higher the risk, the higher are your chances of becoming successful. Now, this does not mean you do not try your best to minimize your risk by planning everything to the dot. Having a contingency plan for when things may not go according to your plan because they often don’t, is one of the most important things you can do to make sure that your business is a total success.

Furthermore, you will always be told to come up with something new. You need to work on a new idea, something that no one has ever thought of before. As amazing as it may sound, it is extremely difficult to pull something off like this. See, with a new idea, being a pioneer in the market will also make you see a lot of the problems, which you might not have planned about. Yes, you will get the first mover’s advantage and you can charge a lot of profit for it too but, the burden of making it successful also falls on your shoulders and if you are going for something like that then you better roll up your sleeves and buckle up because it will be a bumpy ride.

Few Amazing Tips to make business Easier for You

Forget Manufacturing & Focus on Trading

Trading has always been one of those activities, which has helped the world to survive. Therefore, there will always be going to be a place for trading in the world. People will always need to fulfill their needs and wants and you will always have an opportunity with trading to satisfy their needs. However, what you need to do is focus on international trading rather than manufacturing something.

All you need is an account on a b2b website such as Eworldtrade, Amazon, or eBay and you can buy or sell anything in the world. You will have access to millions of buyers and sellers, who are willing to trade on these websites just as much as you are.

Why should you go for international trading and not manufacturing? Well, if you are starting a new business then you need to play it as safely as possible. With manufacturing, there is always the risk of not being able to make the perfect product. Even after making the perfect product, you still might not be able to spend as much as it's needed in marketing for it. 

However, using an online trading platform for international trading, you can easily ensure the trading of any product you want in bulk quantities, which can help you make a decent profit easily.

Work on Someone Else’s Idea

Coming up with innovation and creativity is not wrong or bad but when it comes to paving a safe way in the business world, working on something entirely new can be much riskier than simply working on something, which has been tested before. Being a fast follower is much better than taking the first mover’s advantages. Even being a late mover is better than moving first in the market.

If you have limited resources and if you know that you are not capable of sustaining a loss then why gamble on an idea, which no one has worked on it before? If you think that, your idea is amazing, which it must be, then you need to hold it until you have the resources to make it happen. 

Using an idea, which is tried and tested by thousands of entrepreneurs before you will allow you to gain experience in the business world along with earning a profit as well. You will be able to gain confidence about being able to make something work. 

Once you think you have enough money or investment to sustain the losses, which are joined together with running a new business idea, then you easily work on it.

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Hey! I’m Muhammad Abba Gana, popularly known as AbbaGana, a blog Scientist by mind and a passionate blogger by heart fountainhead of Guidetricks, Duniyan Fasaha, Duniyar Yau, Hanyantsirah, Gidan Novels, Abba Gana Novels and Be With Me Technologies, I am twenty something year old guy from Jimeta, Adamawa State, Nigeria. I’m a Freelance writer, Information marketer, professional blogger, Web designer, Internet speaker, software Developer and also an author. I make living with my laptop and can work from anywhere I find myself (as long as there is a power supply and a reliable internet connection).


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