My Dear Entrepreneurs, you have chosen to go down this road for various reasons best known to you.
However, the route you have taken has great potentials.
* Financially free
* having control over your time.
* Being your own boss
* Affecting more lives.
Like I said potentials so there is every possibility of not fulfilling them.
So these are my advice for entrepreneurs and startups from my journey so far.
If Possible get a job.
This is necessary believe me by research the most successful entrepreneurs are the ones who once worked in organizational settings before.It not a yardstick to a successful entrepreneurship or business but it’s a leverage and a competitive advantage over does just diving into entrepreneurship without prior work experience.The advantages are limitless
Consider your running costs
Most Start-ups, entrepreneurs, and business owners consider rigorously and judiciously the startup costs and throws the running costs into the Trashcan. Which has consistently turned to be an expensive mistake. When starting a business having funds that can cover every form of operational and running costs for at least 6 months helps the business grow roots and stability.
Note these funds should not be dependent on the income the young business generates.
Collaboration is the new competition.
As a startup and Budding Entrepreneurs, nothing kills a Young business like stiff competition especially with competitor’s that has the money bag. so, therefore, Collaborate to conquer, go to your industry competitors as the underdogs and seek collaboration while in the process you are given enough breathing space to grow.
Don’t think you can take them head on, your business would just die a quick natural death.
Well most times costs leadership is usually the marketing strategy and competitive advantage Start-ups and entrepreneurs use to break into the market.
My advice don’t give out poor quality service and products because of the low price they are paying. It automatically classifies you in the market.
Give them a delightsome experience with their chicken fee they would automatically blow your trumpet.And you gradually increase your price tag on the quality of result they have gotten.
Increases your Brand equity
If Coca-Cola loses all their physical assets to a natural disaster in less than two years they would bounce back it is called Brand equity.
Banks would line up to bid for who would lend them the capital to start up again.
People pay for the perceived value, not the real value.
The easiest way to do that is to show up continuously no matter what, and be true to your brand promise do what you say you do, all the time and mind you, how you do what you say you do along with satisfying your customers is key.
And the rest is a matter of time.
My dear entrepreneurs if you considered all I have written and take them to heart you would have saved yourself so much stress and the possibility of failure in future.
I know you would change your world just keep at it.
I Love you deeply
Jesus loves you more