The holidays are here and new year preparations have begun in earnest. Entrepreneurs, business owners are not left out as they attempt to maximize the 365 days of 2019 to move their businesses to the next level.
Early planning gives entrepreneurs and business owners clarity and can help them hone their plans before Day Zero, allowing for greater precision. As an entrepreneur, if you’re going to succeed in 2019, this is the best time to start planning. To help you, here are
Some Top Tips for Entrepreneurs in 2019:
- Ask Questions
If you’re looking to start entrepreneurship in 2019, this is the best time to start asking questions. Assume you know little to nothing about entrepreneurship. Become a student and learn from successful entrepreneurs in your niche preferably.
You can ask them some of the following questions:
- How do you define entrepreneurship?
- What is entrepreneurship?
- What steps did you take to become this successful?
Most of them would be more than willing to help young entrepreneurs out. You can also reach out to them via social media or use search engines.
- Research Your Market/Niche
As an entrepreneur, you need to keep abreast of developments in your niche. Furthermore, you don’t want to lose customers to competitors because you failed to follow the trend or insist on applying ancient tricks that don’t work in this digital era.
Proper market research unearths key findings that can guide your business decisions with actionable insights. This can set you steps ahead of the competition. A key part of market research is knowing your customer demographics, their interests, earning power, spending habits, etc.
And speaking of customers:
- Listen to Your Customers
Customer feedback is golden, you need to keep an ear out for what customers have to say about your products or services and learn to not take negative feedback personally. This can provide essential raw materials for your internal product/service research and development processes.
The customers you serve are the reason you’re an entrepreneur. Lose them and lose your business. You can avoid this by listening. These days, digital channels like social media have amplified the customer’s voice. Whether you listen or not they’ll talk and someone somewhere somehow will listen and you don’t want someone of considerable influence bad mouthing your business to their loyal audience or fan base.
- Build a Team
To be able to work effectively in 2019 as an entrepreneur, you need a team. It’s okay to go solo but synergy with the right individual(s) works like a charm. You get better input, constructive criticism, share risks, inspire each other when the journey of entrepreneurship gets tough.
If you already have a team, help them sharpen their existing skill set and also develop new ones. This will split your workload in many ways and help you get more work done in any given day. These days, remote teams are gaining widespread acceptance as there is a wider pool of skilled and cheaper decentralized workforce to hire from.
- Grow Your Network
Social media is basically digital networking and has it been successful? Recently Instagram crossed the 1 billion user mark following in the steps of Facebook, proving that humans are eager to connect.
According to the book, The One Minute Millionaire, “Your network of relationships increases your leverage. The more connections you have the more leverage you possess.” Others say your net worth is directly tied to your network.
In growing your network or connecting with other entrepreneurs it should be quality over quantity. Conferences, tradeshows, exhibitions and such like are good places to find and network with like minded entrepreneurs.
Over diversifying can harm focus and limit effectiveness plus make you stretch your already limited resources too thin. Instead of maintaining such a large portfolio of businesses it might make more sense to focus and specialize on one, two or a few.
Some entrepreneurs like to be called serial entrepreneurs but lack the men and means to truly qualify as a serial entrepreneur. They simply open new businesses for the sake of it without a growth plan in place or the right team to power growth.
Hijacking every business idea will only make you a Jack of all trades and a master of none. Some successful entrepreneurs have a single product or service then specialize in it and master it to excellence.
- Work, Work, Work
If you want better results come 2019, you need to come into the new year rocking your work clothes or overall. All work and no play is bad for the entrepreneur just as all play and no work. The former can affect the entrepreneur’s health and the latter his wealth.
Most first timers view entrepreneurship as the fast lane to easy, lazy wealth. However, as reality kicks in, many of them retrace their steps in horror and return back to their 9-5 lives. Studies show that most successful entrepreneurs work more hours than 9-5ers especially in the early stages of their business.
A poor work ethic will not work for you in 2019 if you hope to become a successful entrepreneur. Most of your competitors don’t sleep or rest because of their dreams of swallowing your business up.
- Rest, Relax, Refresh, Release
Talking about work, it is critical to know when to stop working and start resting. Taking a break can break stubborn workaholics who’re hell bent on achieving a set goal, but everybody needs a good amount of rest and a decent amount of time away from work in order to reset and refresh.
If your goal is to reach $1m in revenue in 2019 and you work your way into stress and disease that cost you $1.5m to fix, it won’t make business sense or would it?
Now repeat after me:
Repeat (as many times as necessary).
- Take Risks
Deciding to quit a day job is the beginning of entrepreneurship for many entrepreneurs I know including myself. It is one of the biggest risks any entrepreneur or business owner has had to make. For some it turned out bad and they live to regret that move if they can no longer return to their previous standard of living.
But any successful entrepreneur knows that success is born out of taking risks, cold, calculated risks and sometimes “careless” risks. For the ones that succeed the reward usually compensates for the risks. In fact in 2019 you’ll be as big of an entrepreneur as the risks you take on.
At worse you’ll fail and good enough failure has been described as success in disguise. And speaking of mistakes
- Learn From Your Mistakes
In your entrepreneurship journey, you will make mistakes, make no mistakes about it. They may hurt and it’s okay to feel bad. See failure as an opportunity to learn and grow in 2019. The biggest failure or mistake in business is failing to learn from your entrepreneurship failures.
Hopefully, the more you fail or study entrepreneurs like you who failed, the more you’ll learn about success for they are both opposite sides of the same coin.
Implementing these steps will help you succeed more as an entrepreneur not just in 2019 but for many years to come. To your success.
Author Bio: Amos Onwukwe is an AWAI trained Business and Ecommerce Copywriter who has been featured in scores of blogs including Huffington Post, Dumb Littlle Man, Ecommerce Nation, eCommerce Insights, Understanding Ecommerce, Result First, Floship, Successful Startup 101, Small Biz Club, Small Business Bonfire, among others.
He is available for hire