Competition is heating up in the business market. With the passage of time, fewer chances are there and more contenders to make good use of that. This creates an extremely hard situation for the freshers who have not yet checked the business world like the way their superiors have experienced it. They consider it fun and games until the real struggle starts chasing them and this becomes the worst nightmare of their lives.
A typical trait found in young entrepreneurs
Every year, a number of new entrepreneurs carrying the passion of fire and the age of a young demi-god try to take the business quest in their hands but only a few have the destination of gold scribbled at the palms of their ideal business ventures. So, the rest of the unsuccessful ones start criticizing the discrimination made in the entrepreneurial world.
However, truth is tools, the entrepreneurial world is not subjected to discrimination. Yet, it values effort and cunningness in the approach. The reason behind the success of the breed of the unique is their interactive effort with which they tackle the hurdles of the business world. There is a certain order present in their functioning which lacks in the operation of the rest.
Success in the market is always the destiny of those who understand it at first and then devise a plan to ambush the technicalities by their wisdom. The innovation of the mind gives way to the successful planning and support that is stubborn to get nothing less than success. The best kind of entrepreneurs are always fighters intending to take the form of mitigators when the time comes.
A thing to remember
All young entrepreneurs need to understand the fact that there is no tonic that can make them win in the blink of an eye, for a lot of effort is definitely required. However, there are certain tips and techniques which can help you identify the fact that you are exactly lagging behind as compared to your competitors.
Another important thing is that you are the breed with new dreams and ideas. Never ignite the passion of working within you because once you rest it for the attackers on your way of endeavor, you lose half of your strength rightly at the very point. No matter how hard you try your luck to gain that vigor again, you will remain unsuccessful in the end. So, learning from the failures is a very big part of every entrepreneur’s life. It is actually the failure that defines the success of a person.
Tips to make things work for you in the business world
Without making it further hard for you, let us just visit all the traits which mark the strength of a real young entrepreneur who is keen enough to show what he/she has got in the name of skills. Here are the golden principles for you to abide by.
- Take inspiration but focus on your own uniqueness side by side.
- Always stay ready for taking up challenges.
- Think of an idea pondered upon by no one.
- Make it the center of the audience’s attention
- Devise proper and workable investment strategy.
- Test your plan in the market.
- Build communication with the clients.
- Make amendments with time.
Many of us are inspired by the big names in business today. This is because their ideas are exceptional and their strategies in the market are commendable. They have an idea of what they are introducing in the market in the shape of their business. They know their inner potential.
These all characteristics present in them make them our favorites because we want the same mindset as them to develop a business as successful as theirs. You all will agree to the fact that somewhere at the back of our minds, we wish to become one like them or in a parallel realm, “them” actually.
But have you ever thought about what it can cost to you just to have the wish to be someone like them? Well, as easy as it seems yet the truth is so bitter that you will eventually throw it out. The reality is in all this process of being a fan of their efforts, you are killing your own uniqueness.
You forget that your strengths might be different from them yet you want to enter the field for the sake of being like them.
This is why many of the young entrepreneurs fail at the very first step because they are not thinking of their individual uniqueness but are fond of creating themselves in the shape of someone who is not them.
Inspiration is a good thing. If you are new in the field, you can actually learn a lot by following the footprints of experts of the town. However, you also need to concede the fact that following the footsteps blindly can put you at a dead end. You can have no idea where you are actually heading to which is dangerous for your reputation as well as your business growth.
Learn to accept the fact that there is a uniqueness hidden in every single individual. You need to explore your personal talent and then give it the nourishment it requires. Once you understand this basic difference of “me versus them”, you will become invincible in the field.
A great entrepreneur is one who is not afraid of challenges. You know that this is the business world. It is cruel. It will definitely demand a lot from you to grant you success in the end. You need to understand that giving up is not the right option at the very first stage.
As I was preparing myself for the article, I went through an online forum to get the idea of young minds about business and entrepreneurship. I was shocked that the majority of the individuals were not at all happy and positive about being entrepreneurs because they considered it a risk to put things at stake.
I partially agree with their point but not completely. The reason is that they have not tried all the arrows in their bow. You cannot expect success so marvelous by doing so little. When it is the business world, the start-up originally seems disappointing in the sense of growth. At that moment, you need to take the challenge of making it workable for you.
There are instances of hundreds of events before us right from the book of history which tell us that people who initially failed took up the challenge to beat the failure itself and emerge victoriously. So, you need to be patient and wait for the results. It takes some time to build a good reputation in the market and especially in the eyes of the client.
If you will start to deflect challenges from the beginning, it will imply that you lack the guts for withstanding pressure.
There might be situations so difficult that you will feel like breaking up at that very point but the real talent and skill are to mitigate the risk of the challenge and if the challenge faces you with its furiousness, let it test you the way it wants. With wisdom, you can easily cross the sea of challenges to shore safely at the island of success.
An innovative idea
If you scramble the pages of business books where success stories of the business heroes are mentioned repeatedly with utmost pride, you will find one thing very common in their stories. Eventually, it was their idea that made them the emperor of the mighty business world. It was the idea that made the world turn to them and everything changed for them in almost no time. This is what you need to understand.
A successful business idea is one that is a creation of your mind. Something that grabs the attention, provokes the clients to focus on it.
This idea is what really works wonders in the business market. Never ignore the significance of that. Try to become as creative as you can. See what people actually prefer. What are the difficulties that are still hurdles for them? If no one else has previously pointed out those troubling factors, it is your duty to make people attentive towards that but with the help of a solution that seems effective to resolve that certain issue.
Once you realize the power of a unique idea, you will easily be able to step forward to turn the dream into a reality. A reality that is undeniable. This is how you can serve as an entrepreneur as well as a creator. In the market, entrepreneurs are everywhere but in the end, it is the creators who get validation and profit.
You have created an idea. You are working to develop it. But how will the others know that something unique is coming into the market? How would your clients be able to get the report of your performance? Someone needs to come out, shake them, and then preach to them about the grand idea
This is what an effective marketing strategy does. As an entrepreneur who is starting his/her very first venture in the business world, you need to learn that the right sense of marketing can make an entrepreneur a star.
If you have remained honest towards the construction of your idea and have earnestly worked upon it from the beginning, let others know this journey of yours so that it does not get wasted.
Always add your motives and vision to enter the business market. Advertise carrying all these qualities within the piece of advertisement. This is for the sake of saving the uniqueness of your venture and saving it from the ambush of the ordinary ideas already spewing everywhere in the field.
Once you will focus on the impact of a wise sense of marketing, you will also be able to see how others are taking your venture. This is very important because it can give you a chance of correcting yourself at the very prime point before it pivots in the wrong direction rendering things wrong for you.
A workable investment strategy
This is your first venture. You are young and inexperienced about the way money works over here. One wrong step and you can directly become a victim of a dark pitfall from where there is no coming back. Whenever there is the first venture, there are certain issues that wrap up themselves within the layers of the project.
The seam which opens at first is the investment. A number of entrepreneurs invest foolishly in projects which are for time profitable for them but in the wrong run closes the entrances towards their success in the field. It is this wisdom in terms of money management that can actually bear good results.
Always consider investment keenly right when you are investing in the plan.
You do not want to exploit your reputation. A keen entrepreneur is one who is observant of the money management strategies in the field. He observes and then derives a specific investment plan that can serve as advantageous in the wrong run.
Once you learn the art of mastering money wisely, half of your problems will be sorted out by themselves because you don’t have to go through a troubled time. You can keep different portions of the capital saved up for different areas of the venture to maintain the functioning smoothly.
Testing plan in the actual market
A business venture is truly tested by the clients. No one can tell its effectiveness before it makes its way to the main market. Before that, there are just mere assumptions on the basis of which you can never tell the efficacy of your business.
Once your plan is ready to the core. Don’t hesitate to share your ideas with the community. This is because if you will initially hesitate, then the competition will get stiffer by the time you make up your mind to introduce your idea.
It is very necessary for you as an entrepreneur to test the validity of the plan in the real market before the real clientele. This can help you in finding a number of things about the plan, its scope in the eyes of the community, and what else needs to be modified.
A good plan is always ready to be adopted by the majority.
The eyes of the clients are always keen to notice a contrasting yet fruitful idea. They keep on looking for plans that can serve them in real-time without asking for much of the technicalities. So, move ahead and feel free to express yourself truly before others.
Communicating with clients
You know that no business plan can stand on its own without taking suggestions from the community about its significance. Therefore, a businessman always takes the opinions of clients devotedly. You know that if you are not going to deliver according to what the person at the receiving end demands, your venture is useless in terms of providing benefit to the community.
Build your communication skills through rigorous experiences and training sessions. This will help you a lot in understanding the point of view coming from the other end. Successful clients in the business world are always those who have mastered the art of building effective communication skills over time.
You should understand that if a client trusts you enough to share some of the time at making a few suggestions or reviewing your plan, then you are actually near to the point of gaining his/her trust.
Trust in the business field is considered more significant than timely profit. This is because both of these factors are synonymous. If your clients start trusting you enough, then automatically profit is in your bucket. The only condition is to communicate impactfully and positively with the decision-maker of the field.
Amendments over time
Life is the name of change. Nothing here stays permanent. Even the trends in the business world continuously keep on falling and rising on the basis of the potential client’s choice. Large companies always have this agenda in their notebook that they keep on changing the plan and the way to deliver it to the targeted audience with the passage of time. This is what makes them stay in the run for longer than a usual time period.
You need to know that no matter how effective and innovative your plan is, it will get replaced as the masters of the new world will make their entry.
Successful entrepreneurs have the habit of making changes over a fixed time period by adding more uniqueness so that it remains unbeatable for other rivals. You cannot blame the clients but it is the typical human behavior that after a certain time period, the thing which was once most beloved to us gets replicated by something else. Same works for the business market. Therefore, the attempt to make your business plan a dynamic one would not only save you from these dangers but will assist you to stay in the longer run.
Some Successful young entrepreneurs
Apart from the traits you have read so far, there are certain success stories as well which have carved their everlasting imprint on the business market through their effort. Let us tell you about some of these inspirational young faces who have changed the destiny as well as the definition of conventional entrepreneurship for the entire world by their strong vision and leadership qualities.
David Karp: Face of Tumblr
Who does not know Tumblr and its interesting aesthetics with the basic purpose of creating communities and bringing people with the same interests together? But, Tumblr came into existence by the vision of its initial creator David who gave himself his 21st birthday gift in the year 2007 by creating this blogging site which remains popular to date. Though it, later on, came under the ownership of Yahoo, the initial credit goes to David for making this idea into an existing reality. The users know his services and therefore have helped him make a fortune of some $200 million dollars.
Pete Cashmore: The Mind who mashed creativity with reality to give us Mashable
Mashable is considered a site renowned for its take on the trending news around the globe. It allows users to find out their interests and explore blogs and even create pieces that they find interesting. Pete is the mind behind this who could not wait to enter the list of successful entrepreneurs and this is why at the beginning of his 20th year in the world, he introduced Mashable to the world. This was an incident of 2005 and since that time the wealth charm looks in favor of Pete garnering him a fortune of $96 million approx.
Matthew Mullenweg: The mind behind WordPress
We all know how useful WordPress has been over the last few years in terms of our life. Say it the chance to express our emotions, to an AP assignment, and even starting a full-fledged business, WordPress has come to refuge every single time because of its easy accessibility and excellent services. Matthew truly created something grand with the power of his mind despite being a dropout in the year 2005 by initiating the company “Automatic”. This automatically granted him overnight success and made him a millionaire with a fortune of $250 million.
Blake Ross: An exceptional brain that gained fame through Mozilla Firefox
Mozilla Firefox which came in the year 2004 was deemed as a blessing for many of the users who were stuck with Chrome and Internet explorer. This entry made an overnight success for the browser as well as the mind who served as its co-creator. Blake, a fine and sharp youth of 19 was recognized internationally because of what he had just delivered to the world. The wealth potion made him earn some $150 million and counting every single day.
Young entrepreneurs who believe that they are not worthy of getting recognition in the bigger market need to understand that hard work always pays off. The condition is just to stick to the goal and focus on creative ideas that seem extraordinary to the clients. Once you will be keen to devote your skills to the cause so grand, the end result will be no less than a splendid success in the business world.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.