We are very much in the age of entrepreneurship and are and more young people are looking up to the likes of Jeff Bezos, Mark Zuckerberg and Warren Buffett, and looking to follow in their footsteps. Let’s say that you do wish to be an entrepreneur and you think that you are moving in the right direction, how will you know? Well to help you decide if you are on the right path to being an entrepreneur we have a quick guide which you can use to check. We spoke to highly successful fabric and textiles entrepreneur Misha Kaura to give us some additional insight.
Step One – Homework
Very few entrepreneurs have an idea which lifts off the ground before they are able to plan or prepare and fir the most part you should be doing, or have done, huge amounts of research and homework before even thinking about launching a business. This should involve work experience, learning abut the market which you are about to enter into, speaking with those who have done it before and gaining a full understanding of what business looks like.
Step Two – Product
Do you have a product or a service in mind already or do you just know that you want to be an a entrepreneur in something? If you fall into the latter category then you are still on step one and that is fine, if you do know which product it is that you are looking to launch then you are one step further down the line.
Step Three – Testing and Plan
Step three is about making sure that your product or service which you are going to provide is fit for purpose, that it has passed testing and that you have a plan for rolling it out or how you will sell it. These plans need to be well in place before you even think about launching your business, as you just won’t have time later on.
Step Four – Assembling the Team
Step four on your road to being an entrepreneur is about building yourself a brilliant team, this may include sales people, personal assistants, accountants, lenders or anyone else who you believe needs to be a part of your team. Building a team is the hardest part as you need to ensure that you have one which is dynamic, believes in the business as you do, and will work hard to make it a success.
Step Five – Lift Off
Once you have all of these piece sin place the last thing is to launch your business and continue to work hard on problem resolutions, growth planning, financial management and increase the speed and the efficiency of your operations. Step Five is where you will be for a very long time if you find success as an entrepreneur and this is where everyone is trying to get to.