Effective Business Success Tips for Young Entrepreneurs

Hi everyone,

I know that this blog mainly talks about Self-love, Confidence, Fashion, Lifestyle & Style among others but I am before all a businesswoman with over 15+ of experience in Sales, Marketing, Public Relations & Communications. I worked for the largest telecom/ Technology corporations in my country with 10 years in key decision-making positions. And I still have a managerial position at a local Technology consultancy firm headquartered in the States. Although my Image Consulting, Style & Life Coaching business is still young, I think I can share a few tips on how to be successful growing a business or how to be successful at your job so you can quickly work your way up. With all the current uncertainties especially if you are living in Haiti just like me, one may think that starting a business right now might not be a bright idea. But before you go, hear me out.

• Starting a business requires analytical thinking, determined organization, and detailed record-keeping.
• It’s important to be aware of your competition and either appropriate or improve upon their successful tactics.
• You’ll almost certainly end up working harder for yourself than you would for someone else, so prepare to make sacrifices in your personal life when establishing your business.
• Providing good service to your customers is crucial to gaining their loyalty and retaining their business.

You definitely need to have a plan but be open to change;  know what you are good at so you know when you need help and, be passionate about what you do.

So:

1. Get Organized

To achieve business success you need to be organized. It will help you complete tasks and stay on top of things to be done. A good way to be organized is to create a to-do list each day. As you complete each item, check it off your list. This will ensure that you’re not forgetting anything and completing all the tasks that are essential to the survival of your business.

2. Keep Detailed Records

All successful businesses keep detailed records. By doing so, you’ll know where the business stands financially and what potential challenges you could be facing. Just knowing this gives you time to create strategies to overcome those challenges.

3. Analyze Your Competition

Competition breeds the best results. To be successful, you can’t be afraid to study and learn from your competitors. After all, they may be doing something right that you can implement in your business to make more money.

4. Understand the Risks and Rewards

The key to being successful is taking calculated risks to help your business grow. A good question to ask is “What’s the downside?” If you can answer this question, then you know what the worst-case scenario is. This knowledge will allow you to take the kinds of calculated risks that can generate tremendous rewards.

Understanding risks and rewards include being smart about the timing of starting your business. For example, did the severe economic dislocation of 2020 provide you with an opportunity (say, manufacturing and selling face masks) or an impediment (opening a new restaurant during a time of social distancing and limited seating allowed)?

5. Be Creative

Always be looking for ways to improve your business and make it stand out from the competition. Recognize that you don’t know everything and be open to new ideas and different approaches to your business.

6. Stay Focused

The old saying “Rome wasn’t built in a day” applies here. Just because you open a business doesn’t mean you’re going to immediately start making money. It takes time to let people know who you are, so stay focused on achieving your short-term goals.

7. Prepare to Make Sacrifices

The lead-up to starting a business is hard work, but after you open your doors, your work has just begun. In many cases, you have to put in more time than you would if you were working for someone else, which may mean spending less time with family and friends to be successful.

8. Provide Great Service

There are many successful businesses that forget that providing great customer service is important. If you provide better service for your customers, they’ll be more inclined to come to you the next time they need something instead of going to your competition.

9. Be Consistent

Consistency is a key component to making money in business. You have to keep doing what is necessary to be successful day in and day out. This will create long-term positive habits that will help you make money in the long run.

10. Find ways to diversify your income

As someone who is looking to expand their business or start a business, it’s important to lead with an attitude of wanting to diversify their income. There are many ways to make money, whether that’s selling your wares to a jewelry buyer, investing in stock, or selling handmade goods as a side hustle.

The world is your oyster when it comes to business and the income possibilities are endless. It’s all about the passion and drive you have to make those income streams a reality.

Also, be open to constructive criticism. Seek mentorship. Never miss an opportunity for networking and last but definitely not least, take care of your appearance.

Outfit Details

Dress @Champagne | Blazer @AttitudebyLory|

Shoes @Khiani | Clutch @LaSirene

Please comment below on any additional tips that a young entrepreneur should know. I would love to hear from some of the businesswomen in our community.

Thanks for stopping by.

XoXo,

Moumous

Photo Credit @MJPhotography

Linking up with those wonderful ladies here

Inspo