Mentorship is an important aspect of business planning and learning how to run your new business. This outsider perspective can provide a fresh set of eyes on a problem you are having, give advice based on a similar experience, or offer assistance based on services provided. If you don’t currently have a business mentor—you should seriously consider joining our business social group: Community of Inclusion Network. In addition to traditional avenues for networking and fun and innovative ways of connecting with others in the group, COIN also provides members with the opportunity of giving or receiving mentorship.
Our purpose is to help our members succeed—include prospective members. So, several of our members have helped to compile this list of business tips that every entrepreneur needs to know.
- Know your audience. Seems obvious, but it is vital to the success of your busy to not only know who your targeted audience but to know who they are. What makes them interested in your product or service, what can you do for them that they cannot do for themselves—what is it that draws them to your business. The more you understand and know your market, the more successful you will be at targeting their needs and meeting them.
- Entrepreneurship is more than a full-time job. There is no putting in the 40 hours and going home. Be prepared for your work life and social life to merge and become one—you will live and breathe your business until it takes off the ground and even then , you’ll need to work just as hard to keep it going and growing.
- Don’t ever stop learning. You may be a professional in your own right but you should always strive to continue to be the best in your field and attempt to take part in additional trainings and opportunities to expand your experience.
- Entrepreneurship does not mean it has to solopreneurship. To help your business succeed, form yourself a reliable and trustworthy team, even if they are just cheering you on. Even mentors and support members can give you just the insight you were needing to reach a major goal.
- Don’t forget that you have many shoes to fill. Not only do you own your business, you run it too—managing the daily grind required to meet goals but you are also in charge of marketing, securing investors, managing employees, and so, so much more. As an entrepreneur, you have many positions to fill and often aren’t in the position to share the burdens with another employee.
- At the same time—don’t forget to breathe. Carve out sometime for yourself (and your family) to help prevent from burnout.
- You are relying on yourself, so failure is not an option. These days, many entrepreneurships are borne of “bad times”, of having to start your own hustle to meet the demands of life. To help keep you motivated, focus on the reward, not the consequences of ailure to drive you forward. You may not trip if you are constantly watching your feet and the floor but if you keep walking that way, you’ll never see the world around you.
- Take advantage of all of the networking groups and opportunities that you can. It’s practically free—or affordable if a group has annual fees—marketing and an opportunity to build relationships and partnerships with like-minded business people.