4 Tips to Help Entrepreneurs Excel No Matter Where They Work
Entrepreneur extraordinaire Steve Case, co-founder of AOL, once said, “You shouldn’t focus on why you can’t do something, which is what most people do. You should focus on why perhaps you can, and be one of the exceptions.”
When your entrepreneurial spirit is ignited, you don’t want to get bogged down by blindspots and unexpected roadblocks — you want to move forward and give your idea wings. And these days, your venture can take flight from the comforts of home, a coworking space, or on the road.
Courtesy of Proficonf, here are some practical tips on how to set yourself up for success, regardless of where you decide to work.
Create a Business Plan
As Bplans explains, a business plan sets the trajectory of your professional goals for the next five years. Identify the goals you want to achieve by the end of year one — such as have 10 clients, build a website, or hire two employees — and move up from there. Each year, work toward your goals while building up what you need to address the ones in the future. Stay on course by writing a business plan that includes a description, marketing goals, and an executive summary designed to help you measure your success along the way.
Every business needs to establish a legal structure. If you’re growing a business, it’s important to choose a structure that can grow with you. While there are a handful of options out there, many small business owners opt for a limited liability company (LLC), in part for the scalability. An LLC offers numerous other benefits, too, like tax advantages and, as the name suggests, it helps to protect your personal assets.
Of course, there are other options to consider. A sole proprietorship is a common choice for solopreneurs, but it leaves you personally liable for all the business finances. An LLP can be a fit for members of a partnership, but leaves each individual liable for the business’s finances. Make some comparisons with the various business legal structures to determine what the best fit is for your business.
Hire the Right People
Successful entrepreneurs know they cannot do it all. They recognize the gaps in their skills, knowledge, and capacity. This gives them the ability to bring in others to fill those gaps so they can focus their time and energy on what they do well. For example, if you’re an entrepreneur who isn’t very organized with your customer data, you can hire a data entry specialist to manage your client information, inventory, or spreadsheets. You can hire freelance data entry specialists through online job sites; they give you access to a host of professionals without the obligation of hiring full time.
Look for Technology That Saves Time
For most professionals, but especially entrepreneurs, time is money. So, look for ways to invest in technology that saves you time so that you don’t waste your energy trying to learn how to do something that software could easily do for you. For example, using payroll software can help make the complex rules of human resources simpler for people without that training.
The right technology can also save your clients time, too. If you are an e-commerce entrepreneur, consider including PayPal, Apple Pay, Google Wallet, Venmo, and Amazon Pay in your payment processing options. This makes it more convenient for your customers to have a seamless checkout experience with your business.
Similarly, when you’re working remotely, top-notch conferencing is a must-have. You don’t want to waste time with downloading and installing software, and ideally you want to be able to record critical moments to review later. Look for a secure solution that works in your web browser and offers all the bells and whistles you need.
If you are looking to take the leap into starting your own business, you are probably a deeply focused and exponentially passionate individual. That’s all the more reason to ensure you get started out on the right foot. Following these tips can help support that determination and drive, keeping up your motivation, excitement, and, ultimately, success.
For efficiency, reliability and convenience, choose Proficonf for all your video conferencing needs!
Author Marissa Perez,