I Want To Be Entrepreneur – Being your own boss, doing your best, and striving to achieve your goals — these perks make entrepreneurship the ultimate career goal. But how do you start your business career without money or experience? This is what we will discuss in this post. In this post, we will cover: How to become an entrepreneur 5 growth tips for entrepreneurs Gaining experience as an entrepreneur How to get funding to start a business How to incorporate your business Help and support for entrepreneurs How to become an entrepreneur Identify profitable startup ideas. Find and focus on a growing category (or categories). Fill an underserved demand. Make something better (or cheaper) than what’s out there. Network with other entrepreneurs. Research patent applications. Have a brainstorming session. Great ideas can come from anywhere, and unmet needs often create the best business ideas. Here, we will share brainstorming tips. Once you have an idea, you can start your entrepreneurial journey. 1. Identify profitable startup ideas. Successful startups start with an idea. You can’t build a business without one. Here are some creative techniques to brainstorm a product or service. Ask your friends what frustrates them. Founders often strike gold when asked about their friends’ frustrations. “When you start building a product, it’s usually to solve a problem you’re tired of. So I teamed up with some of the same friends who were asking me to help them book party buses and we created Swoop,” says Amir Ghorbani. Like Amir Ghorbani, these founders were inspired by challenges that plagued them and their friends. Travis Kalanick and Garrett Camp started Uber after struggling to find taxis. Andrew Kortina and Iqram Magdon-Ismail founded Venmo (which was acquired by PayPal) after they had trouble paying each other by check. Chris Riccobono and Aaron Sanandres launched UNTUCKit — a line of shirts that look good untucked — after becoming frustrated with how wrinkled and ugly their regular button-down shirts looked when they weren’t tucked in. As you think, ask your friends to keep track of everyday things that bother them. Check out their lists and look for problems you might be able to solve. Get inspired by emerging startups. Auditing the businesses of emerging startups is a great way to start your thought process. You can get ideas from Product Hunt, a constantly updated curation of the latest apps, websites and games. A great success story of this approach is Zapier. In the words of Wade Foster, CEO of Zapier, “One day Bryan [a co-founder] messaged me and said, ‘Hey, an idea that I think could be useful is to make it easier for an entrepreneur to connect the tools they use. You could integrate Mailchimp and Wufoo or Zendesk and Salesforce with a quick click-drag-and-drop interface.” Many discussions followed. And today, Zapier is worth $5 billion. If you’re more of a physical product entrepreneur, you can check out Kickstarter for ideas. Product review sites like Uncrate, Werd, and Wirecutter can spark your creativity and give you ideas, too. Identify trends to future-proof your idea. As the world changes, people will need different products to make their lives easier. For example, the rise of Uber, Lyft, and other ride-sharing apps has created a demand for a third-party app that shows the cheapest ride fares at any given time. You want to get ahead. Read trend forecasts for your industry or market, or check out global trend forecasting publications like Trend Hunter and Springwise. Then ask yourself, “If these predictions come true, what tools will be needed?” 2. Find and focus on a growing category (or categories). Licensing expert and intellectual property strategist Stephen Key recommends choosing a category that excites you but isn’t overly competitive. “I avoid industries that are notoriously challenging, like the toy industry. There are so many people creating in this space,” he explains. “You’ll have an easier time licensing your ideas if you focus on product categories that are growing as well as receptive to innovation.” Once you’ve chosen a category, Key says you should study all the products in that category. What is the benefit of each product and how do they differ? What is your packaging and marketing strategy? What are the possible improvements? What are the critics saying? Once you’ve chosen a product, think about questions like: What can I do to make it better? Can I add a new feature? What about a different material? Can I personalize it? Free Featured Resources Business Plan Template Fill out this form to receive your free template. 3. Fill an underserved demand. Many people start successful businesses after noticing a gap in the market. For example, when Laura and Kelly Moffat, who call themselves tomboys, were looking for clothes for their wedding, they realized that it was difficult to find alternative options for a wedding dress. Instead of leaving it as an unsolved problem, they found a solution by creating appropriate clothing that makes people in the LGBTQ+ community feel comfortable and confident on their big day. 4. Make something better (or cheaper) than what’s out there. You don’t always have to develop something brand new. If you can offer an existing product at a lower price, better quality or, ideally, both, you will have many customers. Even better, there is clearly an existing demand. As you go about your day, list everything you use. Then check the list for something you could improve. 5. Network with other entrepreneurs. Use Meetup or Eventbrite to find events in your local startup community. Not only will networking with other entrepreneurs help you build valuable relationships, but it will also give you tons of ideas. “From entrepreneur groups to tech meetups, there are many ways to meet like-minded people and pool resources. So Google those meetings and get ready to leave the house,” says Kim Kaupe, co-founder of ZinePak. Check out this video for some quick tips on how to effectively and meaningfully network as an entrepreneur. 6. Research of patent applications. The United States Patent and Trademark Office (USPTO) publishes patent applications 18 months after filing. While we don’t recommend copying any inventions outright, browsing these documents can give you a good sense of where a particular industry is headed. Find patents by searching for a specific keyword on Google Patents. 7. Have a brainstorming session. If you want to unleash your creativity, invite three to five business-minded people to a brainstorming session. Ask everyone to come prepared to discuss a specific product category or question, such as: What is your favorite Type X and why? Do you use anything to achieve Y? Why or why not? The answers can lead to some great ideas. 5 Growth Tips for Entrepreneurs Entrepreneurs come from many backgrounds and industries. However, they follow a similar path when starting their first business venture. Below, we will share tips that can help you start a startup. 1. Validate your startup idea with buyer persona research. Now that you have an idea, don’t quit your job just yet. Before you go all-in, make sure you have customers who want your product (friends and family don’t count). To do this, start by understanding your buyer persona (ie, the actual people you plan to sell to). If your product doesn’t serve a need, they won’t care, no matter how innovative or cool it is. This is why buyer personas and market research are vital. Once you’ve identified your ideal customers, interview a few of them. Show them a demo of your product, ask what they like and dislike, how much they would pay for it, how often they would use it, etc. If you want to test market interest before you create anything, create a landing page that describes your product or service. Ask people to submit their email addresses in exchange for early access. a free subscription, subscription or product, or a discount, product updates or other exciting offers. Then promote your page on social or paid search and see how many visitors convert to signups. 2. Start with a minimum viable product (MVP). An MVP is the simplest, most basic version of your tool or service. It’s functional enough to satisfy early customers and understand what you need to improve. Let’s say you want to create an app that connects students with virtual teachers. You can create a simple version, manually invite 150 professors you found online to join, and then post the link to the app on your local university’s Facebook page. If you have a decent number of entries, this is a sign that you should move on. If you don’t get any, you’ll have to rethink the idea or start over. Starting small with an MVP keeps your costs low and leaves room for growth as the product continues to be validated. 3. Keep iterating based on feedback. Your MVP probably won’t be enough to stay competitive in your market categories, especially if you have big dreams for your startup. Now comes the
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