Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

What Will It Take To Be A Top Entrepreneur?

entrepreneur kid

What does it take to be successful as an entrepreneur? The short answer would be a lot more than most people realise. There are probably plenty of twenty-year-olds right now that love the idea of becoming the next rich entrepreneur. It’s completely understandable because this is the ultimate business dream. Imagine, reaching the heights of the market, purely on an idea that you conceptualised and created. How fantastic would that be? However, it’s important that you don’t kid yourself here.

There are a few bars you’ll need to jump if you want to be the next great entrepreneur:

A Winning Smile.

Perhaps this is a slight oversimplification on your part. After all, it’s not just the smile, it’s the whole look of a business winner. Say what you like about Donald Trump but the man is a popular business owner and there’s a key reason for this. He has a weird form of charisma and charm that people seem to love. They think he’s relatable, approachable and more importantly for investors, marketable. You need to match these goals too as a business owner. If you do, you can guarantee the success of your business. Or, at least get you your first meeting with someone who can provide the capital to make your business dreams come true.

Trust In Me.

Or rather, trust in you. New business owners won’t get very far without the trust of their customers, clients and investors. Indeed, it’s true to say that a company could be crippled if they don’t have the trust of key business partners. For instance, you might need to setup credit purchases for your business and to do this, you will need the support of a credit processor. They will also have to trust you are in a position to pay back any money that is taken out through credit purchases. Luckily, there are ways to get around issues like this such as the use of a high risk merchant account. But you still want to generate trust and loyalty where possible. This will strengthen your position on the market.

Hook Line And Sinker.

It’s crucial that you have a unique hook. Remember, the product that you’re selling doesn’t need to be a new idea. You just need to find a way to put a fresh spin on it. No idea for a service or product is going to be original in 2016. Unless there has been a massive breakthrough in tech, it’s not going to happen. But customers will buy old products if you can present them in a fresh way. If you want an example of this look at Myspace and Facebook. Myspace was essential, the original Facebook. It’s very difficult for those who are not experts to state a specific difference between the two. There isn’t one. They are both social networking sites. They both had friend lists, and with a few modifications, Myspace could be what Facebook is today. Zuckerberg just discovered a fresh way to market and promote the social networking concept. It doesn’t matter what you’re selling. Without a great marketing hook, you won’t profit.

We hope this has shed some light on the challenges of being the next major entrepreneur.

 


Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

Tagged as: ,