An entrepreneur is a person who organizes and manages an economic activity, assuming a financial risk: the so-called business risk .
According to data from the Census Bureau, from 1978 to 2012, there was a decrease of more than 44% in the birth of new enterprises, relative to total enterprises, in the United States. Still, the USA is the home of the American dream! This trend has been interpreted as the decline of entrepreneurship.
Despite this, our general interest in entrepreneurship is still alive and well around the world, according to Google Trends.
As evidence of this, a report by the Global Entrepreneurship Monitor revealed that, in 2015:
This is probably due to the constant evolution of the definition of the entrepreneur category , based on new variants and forms of entrepreneurship, from para-entrepreneurs to info-entrepreneurs. Above all, the spirit of initiative in creating value emerges, which in turn creates revenue.
A 2015 survey of Inc magazine readers . com revealed that the biggest barriers perceived by aspiring entrepreneurs are as follows:
On closer inspection, however, many of these are, so to speak, “hereditary fears” concerning entrepreneurship. These fears are overcome, taking into account the technologies and platforms that allow us to launch activities, do things and set projects in motion in ways that were previously unthinkable.
Over the past 20 years, we have seen the emergence of new software, tools and platforms that eliminate the fears and pain points associated with starting and running a business. And this, without taking into account all the additional opportunities offered by social networks and search engines.
These companies – these entrepreneurs who make entrepreneurship possible – are just a small handful of a larger group of businesses that have created a world where a business no longer needs to necessarily be tied to an office in a physical location, where many of them started from home or on a laptop from a coffee shop, or through a smartphone, with “employees” scattered around the globe.
With part-time entrepreneurship being more common today than it once was, you no longer have to give up your job to build a business.
Many Shopify store owners run their business part-time, working in the evenings or weekends. They can only switch to full-time if they wish. Some also have a physical store, while others only operate online.
Commercial activities, unlike in the past, can take many forms. Therefore, obviously, there are various reasons that can lead you to start your own business.
Many entrepreneurs manage to identify an opportunity and invest in it. If there is demand, they become the only suppliers. Passion about the product helps, but it is by no means essential.
What matters is the passion for business, for competition and the ability to create a system that creates value. It doesn’t matter if it’s a side business, or something that replaces your full-time job.
Example: Arancinotto
The info-entrepreneur is typically a teacher who sells information through courses, templates and other resources. Such resources are generally aimed at educating and empowering the public to free themselves through education and knowledge.
Example: Copyblogger
Once upon a time, the only way for artists to survive was to get sponsored by a patron.
Today, authors – writers, video bloggers (so-called “vloggers”), musicians – build an audience thanks to their talent. And then they create a business around it, with merchandising, book sales, etc. Ultimately, their patron is the public themselves.
We don’t often see them in this light, but books are physical products and music downloads can be digital products. If we sell them, we are running a business.
Example: Wait But Why
The manufacturer applies a specific processing technique that he has refined to make physical products. With a hobby or pastime, he has learned to find a niche audience interested in owning what is created. This can be necklaces, handmade furniture, scented candles, etc.
This activity usually starts as a hobby, even before acquiring customers and becoming a real business.
Example: Maraismara
This typology includes agencies, consultants, freelancers, and people with the skills or experience that others need. You can start alone, earning only when you work, but then, if you want, you can expand.
Example: Shopify Partners
There is always room for improvement. There are always needs and critical points awaiting answers. This is the story of many technology company founders, motivated by the intent to realize their vision of a better way of doing things. Everything can also revolve around a useful product or service that does not yet exist. Not yet.
Example: Uber
Some entrepreneurs use business as a means of achieving a sustainable way of life, improving the quality of life thanks to social enterprise. Aside from profit, they try to create value for those in need.
Example: LSTN
These are just some of the intrinsic motivations that lead to entrepreneurship. It can also be a combination of factors that inspire you to start a new business.
The reasons for becoming an entrepreneur may be different for everyone … but there are two qualities that all entrepreneurs have in common.
The word entrepreneur comes from the Latin (composed of intra + prehendo ) literally “take inside”, therefore embrace something, get inside a business, start a long and demanding business. Despite the fact that the concept of entrepreneurship has changed over the years, this part has still remained completely intact.
Whatever our definition of an entrepreneur, it goes without saying that an entrepreneur is not an entrepreneur if he stays there waiting for validation.
Yes, because there are at least two things that all entrepreneurs have in common :
A franchise is any business that decided to sell the rights to its business models to other independent businesses and individuals for a fee. Thus, a franchise is like an identical branch of an existing business but opened in a different country. But, the rules apply and the franchisee, the one who bought a franchise, has to operate by the franchise operating manual and has to abide by the rules and procedures required by the franchisor.
Anyone who can cover all the startup costs, and ongoing costs like royalties, and other business running costs (accounting, legal services, etc.) can become a franchisee. All you have to do is find an available franchise and start the process. Each franchise is different, so you’ll have to do some research before you find the one you wish to invest in.
You should commit to doing thorough research of business opportunities and read the fine print twice. Yes, you are getting into an established business, so there aren’t as many risks involved. But, you still need to do your research to learn about all opportunities, the competition, whether the location is fixed, or you get to choose a location and all ongoing costs plus the initial investment. You have to know everything there is to know so you’ll ask the right questions upon discussing the franchise with the franchisor.
After doing your research, you’ll come up with several possibilities. Now, you have to narrow down your choices, request an info pack from each franchisor and consult with your legal team. You need to get a professional opinion from someone who is an expert in franchising and franchising rules and regulations.
You have to understand exactly what you’re buying into, what rules apply and what your options are. Since each franchise agreement can last between five to twenty years, do your homework and learn everything you can about your commitments and other obligations required by the agreement. This will also help you have a better understanding of the financial gains of each franchise opportunity.
Do your homework to evaluate the franchise. For example, if you’re interested in a bubble tea franchise, look at the number of franchises in the country. Check to see if this type of franchise is an award-winning business, and how else it stands out from other franchise businesses available to you. Evaluate the level of support. For example, a good franchise prospect is a franchise that offers comprehensive training and full ongoing support once you start your business. Look for those that will negotiate the lease for you and other amenities that set them apart from other business opportunities out there.
Just like you’re expected to pay a hefty sum to buy a franchise, you’re entitled to know what you’re getting into. So, take your time to meet with the representatives of a franchise and discover all you can about the business opportunity. See if you can test the product, or a service to help yourself during the decision making process. Ask the right questions to vet the organisation, the product, and the service.
Next, turn inward to evaluate your level of interest and commitment to this type of business. Are you even interested in running a popular franchise? Does this type of business excite you? Do you have any knowledge needed to be successful in this line of business or do you have to invest in professional development? These and similar questions can help you find your why and how willing are you to do the work necessary for a franchise to be successful. Not only that but do you have what it takes to adhere to the rules and obligations defined by the franchise agreement.
Sometimes we have to get behind the scenes and talk to a person running the show to learn everything we can about something. The same applies to opening a franchise, the best experience is the one that comes from people doing what you want to do. Ideally, you should seek a franchise owner of the franchise you want to buy into. If franchise owners aren’t forthcoming, you can talk to another franchise owner. The idea is to learn from another person’s experience and be sure that you’re making the right decisions. You’ll learn things like the realistic timeline, issues and hurdles you might face and even how to overcome them.
Evaluating all the possibilities, both positive and negative before making the big decision, can help you make the right decision. Consider this as a psychological exercise that helps you decide any aspect of your life, not just your professional life. Write down the pros of opening a franchise and list out realistic cons as well. If it’s a con, try to list out a way you can turn this into your benefit or at least how it might affect you.
If you’re serious about buying a franchise, but you needed some guidelines, these seven tips will point you in the right direction. Remember to take your time and think through your decisions. Since you’ll be expected to commit to a franchise for at least five years, make sure it’s the right decision.
]]>One: you need a terrific website.
And: an awesome internet site is not enough.
Even if you know this, path, there is a difference between knowing and doing. And it is easy for small business owners and entrepreneurs to war with records overload on the subject of advertising.
That becomes the case for our customer, Yvonne Douma.
Yvonne is just about the friendliest and most knowledgeable conversation instruction and HR expert you may ever meet.
But she got here to us with lackluster advertising and marketing materials that we are serving her. She didn’t have any form of virtual advertising approach, and she become uncertain about a way to get one.
Yvonne knew something wasn’t operating, but she didn’t recognize the way to get to where she desired to head. If most effective she could connect with the right human beings, that who had seen what first-rate qualities she brings to the desk. And it is wherein we came in!
Over the year, we’ve helped Yvonne with logo redesign, responsive website design, copywriting, social media advertising and marketing and advertising and marketing, and content material marketing for her professional offerings corporation, Douma Leadership.
We also provided the essential cherry on top of some of these services – strategic consulting (my preferred!).
Throughout the technique, we’ve helped Yvonne make clear her services and her emblem and find out an internet voice she can be proud to share with the arena.
Oh, and we also helped her come to be a great-selling, self-posted writer, too (no biggie!)
It’s been our satisfaction to work with Yvonne, and we sit up for even greater success collectively in 2022.
“I had to rebrand my commercial enterprise and reached out to us for help,” she says. “My internet site is expert, clean to navigate and looks super! Susan and her team were supportive, encouraging, and are difficult for me to position me out there and feature the courage to be seen.”
If you’d like to help your small enterprise attain satisfied humans and wholesome profits thru management development, HR consulting, and battle decisions, we cannot advocate Yvonne notably enough.
And if you’d like to recognize greater about how we have helped Yvonne expand her online voice to attain extra customers, maintain studying!
Step One: Strategy
You wouldn’t put together an Ikea bookshelf without consulting the commands first, and that is only a few forums of wood and a few screws.
Yet many small business owners soar right into the deep end of the digital marketing pool, with no plan in any respect. Sometimes they can not even swim!
And that’s wherein commercial enterprise advertising method consulting comes into play.
As a private business advertising approach consultant, I paint one-on-one with my customers to make their advertising and marketing greater effective and powerful than ever before. I LOVE seeing humans have large breakthroughs and in the end recognize what to do and a way to do it (and while those human beings are as pleasant as Yvonne? Bonus!).
For Yvonne, this has intended everyday meetings to gain readability on her business model, outline her ideal goal market, and brainstorm expands marketing techniques best for her commercial enterprise.
Yvonne and I nonetheless meet regularly, and I always look forward to our Zoom sessions. We use them to make certain we live on the right track and hold innovation.
Step Two: Refining Yvonne’s USP & Refreshing Her Website
Many times, customers come to my group with an internet site and logo that just are not up to snuff. This became the case with Yvonne, who’d already placed a little effort into her online advertising.
Thankfully, all we had to do turned electricity bill payment into tidying up her brand, but she otherwise had an emblem that we each agreed applicable to her nicely.
But her antique website turned into now not serving her. Not best did it look dated, but it also did not provide an entire picture of the services and quality that Yvonne brings to the desk.
So our crew went to work, constructing a responsive and SEO website that did a much better task explaining Yvonne’s unique promoting function (USP).
One of the many outstanding matters about having a web development organization to your aspect is that your internet site may be effortlessly up to date. Over the months and through our periods collectively, Yvonne and I in addition whittled away at a logo, arising with new and stepped forward offerings and offerings.
And for the reason that we constructed the internet site, updating it with new content and services is a simple and ache-unfastened procedure.
Step Three: Create A Landing Page
Websites are notable, of the route, but they’re the simplest type of online property that may assist grow a business. That’s why we adore helping customers release touchdown pages as properly.
A touchdown page is a stand-by me, one-page website with a particular cause. They’re a very useful tool to have in your toolkit.
For Yvonne, we created a landing web page around a special webinar she created to assist women in the place of jobs take their strength returned. To get the loose presentation, people needed to sign up with their emails.
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