A new online community for entrepreneurs called Brazzlebox, is asking people to share their advice on the absolute first three things any budding entrepreneur should know when starting their own business. Here some of my top three tips with an added bonus for any beginning small business owner.
Top 3 Tips For the Budding Entrepreneur
1. Create a business plan that details your mission and has a clear vision of your business and your goals. When you write you write your business plan it should consist of five elements which are as follows:
1. Executive Summary: Your executive summary is a window into your business and touches on your product or service and profiles your business goals.
2. Company Description: Provides information on what you do, what makes you different from others, and the target audience that you serve.
3. Market Analysis: Before launching your business, it is important to research your particular industry, market, and your brand.
4. Organization & Management: Find out the best organizational structure for your business.
5. Service or product line: What do you sell? What is your service? What is the product or service life cycle? What are your demographics?
6. Funding Requests and financial projection: Research financial projection and funding requests to seek funding to launch your business.
2. Define your niche: It is important to know that there is a difference between your niche and your target market.
Definitions of Niche and Target Market:
1. Niche: Your niche is the service you specialize in offering to your target market
2. Target market: The specific group of people you work for, my specific group of that are in my target market are creatives, bloggers, small business owners, and Mompreneurs,
Knowing your niche will help you position yourself as an expert in your field, and build up referrals as you gain more credibility and visibility in what you specialize in. You have the ability to create more repeat business, find out what you are good at and what you are passionate about in order to walk in your purpose and serve others. You are able to set yourself apart and show your uniqueness in the market place as a budding entrepreneur.
2. Build your community:
Community is important to receive valuable feedback on your products or service that you offer. When you build your community and they believe in your product or service they will spread the word and share with others. Community works together to provide support and encouragement to each other while you are building your business. Relationship building is very important when starting out in business to gain trust, confidence, and help to motivate you to continue on your journey when you develop strong relationships and community.
By building community you are able to learn from your clients and customers. You learn how to follow-up with them and ask for their honest and open opinion of your service or product. You can receive testimonials on your service or products from your growing awesome community!
3. Networking: Networking is one of the most valuable uses of your time whether it is online or offline. The ability to attend live networking events to be able to show your face and pass out business cards, speak at conferences, volunteer at workshops and local events in your community. You have the ability to meet like-minded individuals, and networking can always lead to future opportunities, advice, and business.
It can also motivate you to go further and to expand your industry and knowledge in your niche.
Mentor or coach:
I believe that it is crucial to have guidance by a professional mentor or coach. A coach can provide the guidance that you need to take your business to the next level as you continue to educate and invest in yourself and your business. When you begin to educate yourself it is important to read books on business, podcasts, live video, free college curriculums, free or paid webinars, online courses which contain valuable nuggets online education is the key for the small business owner.
While you are in the process of making this first step it is great to have a mentor or coach to help navigate through the noise of social media and being able to narrow your niche, or help you to become more accountable on your business plan, and will help to take baby steps to build your business. I believe that a coach or mentor is the person to provide the support and encouragement from a hands on perspective after you have researched all of the courses and webinars. A mentor or coach is able to provide structure from the background of their own experience to pour everything back into you as a mentee.
If you are looking for a Pinterest Marketing Strategy coach. I specialize in helping creative business owners and bloggers make a bigger impact in their social media space traffic on Pinterest. I offer 1:1 Pinterest Marketing Strategy coaching sessions, with 3 extensive coaching sessions, two consulting calls, private Facebook group, and power packed workshop. I can be reached at 678-310-8667 or via email firstname.lastname@example.org to book a coaching session, work with your next campaign or project, or host a work shop.