Four Steps to Successful Entrepreneurship

Four_Steps_to_Successful_Entrepreneurship

The vast majority of Americans are now aspiring to become entrepreneurs rather than take jobs in an office.  The good news is that entrepreneurship can be learned and there are four simple steps that capture the essence of successful entrepreneurship.

  1. Creatively solve a problem you have: You may have watched the movie about a woman who left her lucrative banking job to move to the countryside. There she had a real problem in trying to feed her baby. She invented organic baby food which became a huge entrepreneurial success. The movie was actually based on a real life story that captures the essence of entrepreneurship. The roots of a successful enterprise entail a person truly understanding a real life problem and then developing a smart solution to that problem. So take a step back, think about a real problem that you have and how it can be solved.
  2. Research and Test market: Once you have solved the problem creatively, see if others around you have the same problem and like your solution. Researching the market can be formal or informal but it is a great idea to test your product on a small-scale before a full-fletched launch. You can of course test on your family members first and then move on to friends. Once you have the relevant feedback, it is important not to procrastinate. Being action-oriented and launching the product quickly will give you the first mover advantage.
  3. Launch and Refine: After you set-up your venture, it is important to constantly refine the elements of your marketing mix. You can get a call tracking system whereby you know which marketing channels get you the most sales and you can focus your budget on these. At the same time, you can listen to call recordings and use keyword level transcription reports to perfect your product and your marketing pitch.
  4. Hire, Train and Delegate: As you watch your business grow and gain market share, you need to start hiring and training the right team. Delegating appropriately will be the key to expanding your venture. When hiring you need to ensure that the team you take on board has the right experience and competencies and also fits in with your organizational culture and mission. You can use intelligent call routing to optimize on your customer agent’s time.

Once you have the right team, you can sit back, relax and watch your business flourish.