5 Tips for New Business Success

The American Genius recently released an article which provided eight tips for new business owners to achieve success. Being a part of the millennial generation, I have witnessed an increase in trends of new businesses. We are the generation of the entrepreneurs! 

We have easy access to global resources through the internet, and have the ability to create innovative products, services, and more. With that being said, I thought it would be great to include my top five tips based on The American Genius article with hopes of inspiring you all to take a risk on that idea you’ve been thinking about in your head. 

5 Tips for Success for New Business Owners 

1. Choose Your Product

What are you selling? Are you offering a service for companies or a product to consumers? What type of clients are you looking for? How are you going to stand out as unique? 

2. Know Your Audience

With the evolution of marketing, the industry finds that partnerships between marketing and sales are essential. Your marketing will bring the money! However, when it comes to marketing, do you know your audience? Who are your supporters? Who are your key stakeholders? What do they like? Maybe you should conduct a survey, or engage with them more on Instagram. Which social channels are perfect for your brand? All of these are key factors in knowing your audience, and overall success for your business. 

3. Know the Market

Is there a high demand for what you offer? Who are your competitors and what are they doing? What are the major news publications that cover your industry? Are you able to get coverage there? You need to live, eat, and breathe your industry. I can’t possibly call myself an entertainment broadcaster and not know any and everything about the latest entertainment news. 

4. Seek Advice

Know who to go to for what. It’s NOT okay to go to your peers for business advice, they don’t have the experience. However, It IS okay to reach out to your peers for feedback and criticism. Attend professional workshops, online webinars, and even sign up for professional organizations. 

5. Be Official

This is the last but MOST important. BE official. Always BE official. It’s okay to experiment while in college, but once you graduate you are an adult and you need to make sure that your work reflects your brand. If your business offers services then EVERYTHING needs to be extremely professional even if you believe that “entertainment” does not need to be as professional. Always strive to be the best, and work toward it. Don’t wait for that position or dream job to get the right equipment, save up your money and do it now. 

Hope this was helpful! Comment below and let me know what you think. 

~Jaleesa Lashay~

(Photo by Francis Moran & Associates)

40 Tips from Major Entrepreneurs

Forbes contributor, Eric T. Wagner attended the Entrepreneur of the Year gala hosted by Ernst & Young this year and shared 4o tips from some of the world’s top millionaires and billionaires.

I found that the tips he shared were very insightful, and listed my favorites below. Check them out and let me know what you think. To view the complete list, go read the full article.

1. “You don’t have to be first to market, you just have to deliver and execute better.” – Jeffrey Sprecher, Founder, Chairman and CEO, Intercontinental Exchange

2. “You have to be able to take the risk and be prepared to lose everything.”– Hank & Donna Roth, Founders of Cool Gear International

3. “You need to be passionate about what you’re doing. There is nothing you won’t do when you’re passionate. You do everything and you need to be willing to do everything.” – Annette Catino, Founder & CEO of QualCare

4. “It will get hard, but don’t give up. Always trust your gut.” – Ellen Stang, Founder & CEO, Progeny Health

5. “Learn how to write and talk. You are always trying to persuade someone.” – David M. Rubenstein, Co-Founder of The Carlyle Group

6. “Don’t let anyone’s opinion of you destroy you. You have to believe in what you do.” – Kathy Ireland, Founder, CEO & Chief Designer of kathy ireland worldwide

~Jaleesa Lashay~

(Photo by Score)

 

Top Cities for Female Entrepreneurs [Info Graphic]

Intuit published an info graphic (below) a few months ago that examined the top ten cities for female entrepreneurs, listing San Francisco, Calif. as number one.

The chart also provided seven tips for future female entrepreneurs including my three favorites: Be Confident, Trust Your Instincts and Don’t Wait for Perfect Timing.

Of the three, “don’t wait for perfect timing” is the most important in my opinion, and the one that I find most useful. So often, young entrepreneurs both men and women believe that starting your own business should begin after you receive your degree, or after you have this money, or excuses. Excuses. Excuses.

The truth is that with the Internet and so many professional organizations, there are plenty of ways to gain that business knowledge that will help you create a sustainable brand or product. Additionally, everyone has the time. I mean just think about it, we have the same 24 hours as Beyonce!

If that doesn’t give you the motivation, I’m not sure what does. Of course, there are plenty of additional factors to starting your own business including a great network, proper tools and unique creativity (all of which will be shared on this site). However, the point is that it is possible, especially in the ten cities listed below.

So….go for it ladies!

~Jaleesa Lashay~

(Photo by Academy of Black Mentors)