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5 Steps for Aspiring Entrepreneurs

  • First steps to becoming an entrepreneur

If you want to be an entrepreneur, you should evaluate your goals and test your startup ideas extensively in the real world before you quit your job, and it is reckless not to do this.

  • 3 reasons why you should share your ideas with others

Entrepreneurs tend to hesitate to share their business ideas with others. This is because the idea may be stolen. However, sharing ideas with others has advantages over it. Here are three reasons why you should share your ideas with others

Step 1: Is it a career for you?

The pursuit of entrepreneurship is not just about choosing a career; it is about choosing a lifestyle. Therefore, be sure to do this for the following good reasons: If you are trying to start a business just to earn money or power, you probably will not succeed.

  • Passionate about solving important issues.
  • Has unique market knowledge on how to solve problems.
  • I want to change the world.

Ask yourself the following: Now is the time to decide if you are ready to change your lifestyle to achieve your career goals.

  • How to define success?
  • How will your life change and affect the lives of others?
  • Can you deal with the failure?
  • Are you ready to take the time?

Step 2: Accurately show your talent

Your strength and passion should serve as the basis for your business. Without them, you would not survive the entrepreneurial journey.

Taking the time to outline your technology and capabilities will help you decide in which industry you should start up, considering the following:

  • Which technology has contributed to the expansion of your expertise?
  • How can you leverage the technology for success?
  • How can you improve your weaknesses?

Get a second opinion on what you praise and how you can turn it into a business to your managers and colleagues when listing what you are good at.

In addition, once you have listed what you are good at, check that you are interested and excited as follows:

  • What do you never feel like a job and never get tired of?
  • Can you see what you are doing in 5, 10, and 20 years?
  • What motivates and empowers you?

Some of the preferred entrepreneurial characteristics are:

  • Work experience

For example, someone with production control experience can better prepare you to run a             successful company.

  • Flexible intelligence

You can quickly adapt to the dynamic entrepreneurial world.

  • High openness

Being open to new experiences and ideas can lead to more solutions that are creative.

  • Moderate comfort

Having a balance between kindness and rigor means not compromising on the needs of the             company and getting along with others.

Step 3: Start the project

Big ideas are not born they are born:

Start a disposable “project” and write down some variations. It is important to have as many inspirational ideas as possible during the formation phase of a company’s establishment. Do not limit your creativity.

Do not get too enthusiastic as you may change the project. Instead, look for reasons to throw away your ideas until you find a project to continue.

Your idea should be able to answer the following questions:

  • Does your passion have an impact on the lives of others?
  • Can your technology offer solutions to a wide range of or common problems?
  • Can your passion influence others?
  • Will people be interested in your idea?

Also, keep in mind that the best startup ideas have the following characteristics:

Simplicity … solve one problem for one customer.

Clear Income … Start with one simple source of income.

Large market … Aim for a market of at least 10 million people.

When you have assembled a set of potential startup ideas, it is time to test the feasibility of your ideas. If your interest in the idea is stagnant, the project may not be good for you. On the other hand, if you come across an idea that you cannot stop thinking and talking about, you may have found a winning business idea.

Step 4: Research and feedback

Once you have established an idea, expand your knowledge as follows to make sure the idea is feasible.

  • Browse the best entrepreneurial books and trade magazines.
  • Extend / update your startup terminology and research starting prices, funding options, legal obligations and more.
  • Attend network events with people working on similar projects and contact mentors or business advisors.
  • Think about where your business is located and decide who your competitors are.
  • Research why your peers have failed and find out what they make mistakes and how you can do better.
  • Make sure you have not broken the agreement with your current or past employer, and make sure you have not infringed a trademark or patent.

No one is going to steal your thoughts. So the best thing you can do at this stage is to get as much feedback from as many people as possible to help you repeatedly evaluate and improve your ideas.

This is the most important step, so be prepared to spend a few months or more at this stage. The basic research plan is as follows.

  • Analyze the market and competitors.
  • Are trends friendly to your ideas?
  • Are you breaking agreements, trademarks or patents?

Create a simple, one-sentence pitch and get feedback from your sincere friends and colleagues. Find a company that has failed in the same industry, talk to its founder on the phone, and collect feedback on the market and your ideas. Attend many startups, entrepreneurs, and business-related events and repeat until the pitch is clear, concise, and engaging.

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