The word
entrepreneur is getting very popular, which is a good thing. Providing a product
or service to a niche is the correct direction to riches. What will make the
vision a reality requires three main elements:
1. Sense of purpose
2. Optimism
3. Resilience
Having these
three components is how business owners increase their chances of becoming
successful.
A profitable business idea can come
at any moment. The problem you solve will be the sense of purpose in your
journey. For example, many people buy the lottery in hopes of a better life.
Why else should it happen? Why would the public be interested? This is where
branding, logos and slogans influence the consumers. The Public must have an
emotional connection.
The feeling of optimism is the goal.
Of I drink this or wear that, I will be…The truth of the matter is that nothing
needs to happen but perception creates that euphoric response. i.e use a
particular beauty cream to look younger.
This group think can take a while for the public to take notice. Is there
a structure in place to absorb the time gap?
Endurance creates resiliency. Some
frequently asked questions during this time are:
1. What did I learn while waiting?
2. How should I try my new approach?
3. Was the marketing appropriate for
this the targeted community?
Seniors
prefer TV and radio, while millennials prefer social media, especially through
their phones. Creativity is a must.
Whatever business idea you have in
mind, be sure to devise a solid business plan; develop a business structure,
for instance, create an LLC. If the business is in the US, use an EIN instead
of your social security. That way, you keep personal and business issues separate.
Have a path; stay positive and remember that it is over only when you are six
feet under.
