Who is an entrepreneur? What does he do? These may be just some of the questions when we hear the word entrepreneur. But who is he really is? An entrepreneur by definition is a person who manages any enterprise, especially a business. The word “entrepreneur” originated from the French verb “entreprendre” which means “to do something” or “to undertake.” To be an entrepreneur need not be a person who is at the age of 30-35. As a teenager or a college student, you can already engage in business that you yourself can manage already. But how can you do it at an age so very young? Here’s how.
Most businesses success comes from one idea. Different people can think of different ideas, but ideas will just be stagnant unless you use them and make an action on how to use it. Think of all the possible ideas that you can use in your business. Listing them down would be of great help. You can also ask people around you of what they think so you can have a comparison. Brainstorming is a very good technique before you start anything else. Remember, these ideas should be realistic enough to be achieved.
Create a Business Plan
Always remember the four M’s: Money, Market, Man, and Machine. You need to take note of the investment or capital that you will be putting into your business. The target market should also be put into consideration. The number of men you will work with should be noted since you will also be paying them wages if you will not work alone. Also, you should ask if you have the equipment and machine that you will need in your business.
You should also think about your product like how your product should look like, what type of packaging should you use, what are the materials that you will need, and how to make your product appealing.
Think of people who can be the possible investors that you can have for your business. If your business requires you a capital which you can’t handle yourself, you can ask your friends or family members to draw in a fund or money by which you can use and you can give them some sort of return on their investment.
Sell your Product
Be creative in selling your product. You need to think of ways by which you can capture your target market and make them see how good your product is. Price is a very important component is selling since people will always seek for how much you match your product with the price. The competition will always be there and you should think of ways by rising above the competition.
Hang out with other entrepreneurs. With them, you can ask their ideas on how they do their business and link with them can give you a network by which you can pair your product with. By meeting them, you can gain a lot of things and strategies that you can also apply.
Being a successful entrepreneur depends on you – on your attitude. Go for success. Go for being the best entrepreneur.