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Becoming a successful entrepreneur

7 keys to becoming a successful entrepreneur

Don´t give up, success is right around the corner.

Multitasking entrepreneur
Entrepreneurs often have to multitask

Creating a successful business requires the combination of a good idea, a good business plan and enough money to carry it out. To become an entrepreneur , it is necessary to identify an opportunity where nobody else sees it and manage the resources necessary to make it operational. We´ll talk about the attitude and aptitude of an innovative person who aspires to be his/her own boss and make decisions to create his own company.

Is becoming an entrepreneur viable at this time?

Of course it´s possible! Becoming an entrepreneur has been the project of a growing number of Québécois citizens for the last 10 years. This fact has been revealed by the Quebec Business Index 2018. The index predicts to close the year 2019 with 12% more business than last year. If you wanted to know when to start a business in Quebec, start your company this year.

7 keys to becoming an entrepreneur

1. Your idea should solve a problem in a niche market

A good business idea should solve a problem for someone. It is the first step to become an entrepreneur. Frank Scipion, from La Transformateka and Lifestyle at Cuadrado, says that there are 3 factors that determine the choice of your niche:

  • How much value can it provide?
  • A good theme that maintains the interest of your audience for years.
  • Must have economic potential.

2. Wait for the right moment to make appropriate decisions

Becoming an entrepreneur is not just about having the vision and making an idea operative. This person must be able to sniff the precise moment to launch. You must also sense when to make the right decisions.

3. Define who is your ideal client

Defining the ideal client is one of the keys to becoming an entrepreneur, the services that you believe should be directed to this client. Walt Disney said: “Whatever you do, do it so well that they will return and also bring their friends.”

4. Create a comprehensive business plan

A good business plan should consist basically of an executive summary, a description of the business and the products and services that will be offered. A comprehensive plan must also include a marketing plan. The success of the new business will depend on the execution of this plan.

5. Ensures a reasonable balance between work and life

This is a recommendation of Noémie Dupuy, the executive co-director of Budge, a leading company on the Quebec list in the PROFIT / Chatelaine W100 list. When someone decides to become an entrepreneur, he/she dedicates too many hours of work to the project. Achieving the perfect balance between life and work will make you more productive.

6. Define your role clearly

Dupuy says that anyone who wants to become an entrepreneur must know how to play the most important role in their organization. In addition, she advises that you need to surround yourself with the right people.

7. Having only one mentor

One of the mistakes of those who wish to become entrepreneurs is that they disperse and begin to read different authors and follow different mentors. Frank Scipion recommends having only one mentor. That person to turn to when you have a traffic jam in your project.

Most quoted ventures

You must select projects that guarantee greater profitability with the least amount of resources. These three types of projects are world leaders because they meet this condition:

  • Applications development
  • Language Academy
  • Digital marketing consulting

Finally, most people know that becoming an entrepreneur is not an easy task. But those who start a business with a good plan and with the right keys that help them face the risks wisely end up savoring the sweet honey of success.

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