weakness – Bada Business

5 Steps to Help You Become a Successful Entrepreneur

Mumbai, November 18: Being an entrepreneur is not as easy as it sounds. Most people want to start their own company because it gives them a sense of freedom and empowerment. You can take your own decisions and implement them for the wellbeing of your own company.

However, even though, it sounds fancy, but there is a huge responsibility that comes the moment you start your own business.

Here are a few steps to follow in order to become a successful entrepreneur:

Trust yourself: The first and foremost quality which an entrepreneur is required to have is to have great trust in one’s decision and capabilities. However, this shouldn’t be confused with overconfidence.

Believe in the people around you: It is very important to stand and believe in the people around you, like your colleagues, workers and others who are the pillar of your company. You should always believe in them, this gives immense confidence to their belief and they will stand by you, even when times are not good.

Be Passionate: You should be extremely passionate about what you are doing. The moment you love your work, everything falls into place.

Take Risks: Taking risk is another quality which entrepreneurs should have. If you have launched your own company, you need to make decisions sometimes without worrying about failure.

Identify your weakness: It is very important to identify your weakness and this will be the base where you can work on and improve. Listen to complaints and understand what the customer is saying. Try to be in their shoes and then analyse the problem.

Startup Growth Strategy: Follow These 4 Steps to Sustain in the Competitive Market

Mumbai, October 20: Starting a company is not an easy task and one of the most important things is a strategy. You need to have a robust strategy in place for your startup to grow.

It is a very difficult and competitive space for a new company to establish itself. According to a report on the Entrepreneur, 50 percent of the startups fail every year and only a few manage to survive for more than five years. The ones who succeed for a longer time in the market can do so by creating a startup growth strategy.

Check Startup strategies shared by Dr Vivek Bindra:

Today, we will talk about 4 steps to develop your startup growth strategy:

Create your vision statement

When you are starting, create a vision statement where you would like to see your company in the future. Dream big, aim big but is also very important to remember that there are various restrictions in the form of budget and other resources, unlike a big company. But, if the focus is right, you will soon be able to achieve it.

Own your strengths and weaknesses

Identifying your strengths and accepting your weakness will help you to sustain in the market for long.

Determine your positioning in the market:

You must have an understanding of your business. You must know, what sets you apart from your competitors.

Keep a check on your competitors:

In the age of digital media, a consumer is bombarded with numerous information from various sources. Very few manage to stick on to the mind. Therefore, it is very important to check on your competition and never underestimate them.

These strategies will help you to increase sales of existing products or services on existing markets, and thus will help in increasing your market share. They will also create a strong brand recall.