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.
(Photo by Francis Moran & Associates)