Common Steps to Becoming an Entrepreneur

There are two main ways to become an entrepreneur. The first way is through franchising a company that already exists, and the second way is by building your own company from the ground up as a start up company. Franchises are usually expensive from the start because the entrepreneur has to pay several thousands of dollars in order to purchase the right to go into business for themselves under an existing companies marketing and entrepreneurial strategies. Franchisees receive everything that they need to succeed from the original business owner once they pay the franchise fee. Furthermore they receive training, advertisements, staff, logos, uniforms, a storefront and various other business tools that they must adhere to as a part of their entrepreneurial endeavor.

When it comes to creating a start up business from scratch, most of the aforementioned business tools are a direct result of the business owner making a conscious effort to incorporate them into his or her overall business plan. Which leads me to one of the most important steps to becoming an entrepreneur, that is writing a business plan. A business plan does not have to be really long, actually brevity and conciseness are highly valued. Over the years, the business plan will change, it may get longer due to new additions that the owner has decided to implement, or the owner may decide that some of the plans are no longer ideal for the direction in which the company is now headed. Nonetheless, the business plan is a vital tool for the start up entrepreneur, it is like his roadmap for his business goals, as well as his compass to encourage other people who see the business to see where he is going and encourage them to head in the same direction.

Another step as an entrepreneur to a start up company is deciding on the name, logo, and marketing strategy for your company. I have learned that small business owners have to constantly market their company in order to be successful. Marketing is not a step that business owners should put to the side or wait until they feel they can afford a marketing specialist. They must take matters into their own hands immediately and begin marketing as soon as, and sometimes even before they open their business in order to get customers.

 

The more customers one has the more help one may need to keep up with all of the business. This may mean planning to hire employees to help with the demand of your product or service. Once you hire employees, you will be responsible for getting them trained on the company operates, how to provide great customer service, and making sure that the employees are paid on time and in full. These are just a few steps that most entrepreneurs of start up companies can look forward to eventually.

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