Can You (and Should You) Turn Your Entrepreneur Business Ideas Into Reality?
We’ve got some of the most common questions future entrepreneurs ask – and answers that will turn business ideas into businesses!
Can you (and should you) turn your entrepreneur business ideas into reality?
The Most Common Questions New Entrepreneurs Ask About Starting a Business
By Amelia, Guest Blogger
Over time, many of the hundreds of thousands of business projects that entrepreneurs start each year never make it, as there are several stumbling blocks and failures along the way. Some are doomed to falter even after impressive rocket launches.
Many of these non-success stories are due to inadequate planning and not knowing how to conquer the challenges of starting a business. We believe that bringing entrepreneur business ideas into fruition is easier with the help of a mentor. Mentors can guide you along the way, making the process easier, even if you’re intent on going it alone with your business.
But, before you ask anyone else questions, you have to pose some to yourself. So, we’ve compiled some of the most common questions entrepreneurs ask about starting a business. If you have one or several entrepreneur business ideas and considering being a self-starter, these are food for thought.
Common questions such as…
Do I Have What it Takes to Start a Business?
How do you, as an entrepreneur, know if you have the qualities needed to succeed? Take some time and jot down your goals, work habits, and level of commitment.
You’ll need a willingness to make sacrifices and interpersonal skills to deal with various individuals, including attorneys, staff, salespeople, and clients.
One of the essential traits, though, is to take on all roles at one time. Even if you end up with some employees or co-workers, you have to know how everything works when it’s your business. You can’t manage a project if you don’t know what’s involved.
How Do I Know if Now is the Right Time to Start My Own Business?
A common question that most entrepreneurs ask is when the time is right. But part of the answer requires a leap of faith. You can have experts provide you with their opinions with facts and figures to back them up. However, it’s your business in more ways than one, so you’re the ultimate judge, and there’s more to it than just an awesome business idea.
We can suggest that it’s helpful to put together a comprehensive plan, including a realistic budget. As you’re compiling the information, research all of the ways you can get leads and market your new venture. If you start your new business with your eyes wide open and still feel optimistic, then any time is the right time.
What Inspired Me to Start My Own Business?
You’ll find that “what inspired me to start my own business” is one of the most common questions entrepreneurs ask after jumping in with both feet.
Every so often, all independent business professionals need a reminder of why they made the sacrifices. That’s because the reason behind turning your entrepreneurial business ideas into reality could make the difference between powering through or throwing in the towel.
Your desire to become an entrepreneur must be strong enough to get you through the highs and lows of the journey. Working part-time when caring for your children, working as a 1099 before a better opportunity arises, or having nothing better to do aren’t always the best reasons to start your own company.
When everything clicks, though, success is sweet!
How Will I Find Leads? What Techniques and Approaches Should I Employ?
Locating potential buyers quickly to close deals and where and how to reach out to potential customers is a key element to every successful entrepreneurial endeavor. And, isn’t this one of the questions that bothers every entrepreneur out there?
Finding leads is one of the most common questions entrepreneurs ask, and the answer is that you’ll want to put together a comprehensive plan based on whether you have an online or in-person business.
Start a pre-marketing campaign
Some of the techniques cross over, but physical locations require customers in the door, whereas online businesses are entirely virtual. At the very least, you’ll need a website or landing page facilitating email opt-ins, some social media presence, and referral programs.
We suggest getting a headstart. Whether your business idea is virtual or in-person, you can still put up a one-page website and start collecting emails. The sooner you get your name out there, the better.
No budget required
In addition to the landing page, incorporate free marketing methods. There are so many, depending on your business or service. But some include a LinkedIn business page, Alignable, and other social media sites.
Scroll down to our section on self-promotion, as many of the ideas crossover. However, don’t hesitate to get an early jump on things. If you use free lead-finding techniques and then decide that you’re not ready to move forward, the worst-case scenario is that you have an email list for the future.
How Can I Solve the Three Significant Challenges that Every New Company Faces: Money, Product, and Pricing?
The most common explanation for companies going bankrupt in their first year is a lack of capitalization. Figuring out how to fund the start-up is one of the top questions for every entrepreneur. Building a product or service necessitates investing time and resources to create these materials and clarify the target market’s wants and needs.
If you’re starting from scratch, we recommend hiring a mentor if you don’t have access to a friend or family member with solid business acumen.
Another suggestion is to contact your local SBA office. Many US cities have SCORE programs, with retired professionals who volunteer their time to help local businesses and entrepreneurs.
I Have Plenty of Entrepreneur Business Ideas, But What Steps Should I Take to Ensure My Company’s Success?
This question gets to the heart of your determination and what you’re willing (and not willing) to do to succeed as an entrepreneur. Every new venture necessitates an assessment of your discipline and diligence in relation to your desired degree of performance.
There are plenty of questions entrepreneurs ask, but they all revolve around the quest for success.
Add to your marketing toolbox
One of the best tips that we can share is to take advantage of every opportunity available to you. Don’t be tunnel-visioned. If you take the time to learn some online marketing strategies, use social media to your advantage, and build an email list, you’re well on your way.
The best part is that virtual marketing opportunities are free or relatively inexpensive. You just have to be willing to take the time to do the research and learn some new skills.
What Should I Do for Self-Promotion?
The process of getting strangers into your network and piquing their curiosity is what marketing yourself is all about. It necessitates strategic planning that allows potential customers to connect with you, experience your value proposition, and create confidence before becoming a sale. It is not enough to create a website or a social networking site.
Just a few free (or inexpensive) promotional methods to help you turn your entrepreneur business ideas into reality:
- Website landing page (with simple email opt-in)
- LinkedIn business page
- Alignable (for business networking)
- Local directories
- Google My Business
- A YouTube video (if you can’t do one yourself, you can order one on Fiverr for under $100)
- Content marketing – continuously post information that benefits readers and, in turn, they’ll find you
- Other social media – Twitter, *Pinterest, etc.
An easy way to conduct a sweepstakes
One of the best ways to jump-start the process is to hold a raffle or sweepstakes. You don’t have to go all-in with an expensive prize that you can’t afford. Instead, come up with something that your target market is interested in and offer something along those lines. Or give away a sample product or service you’re promoting.
To make things much easier for you, check out Rafflepress. It takes care of sweepstakes from the entry form to the rules to a one-click winner draw. It’s only $39, and it’s well worth it. You’ll end up with a database of email opt-ins, and you’ll have options for entrants to do some social shares in exchange for extra sweepstakes entries.
*A Pinterest Tip
Were you aware that every month nearly 460 million people worldwide are active on Pinterest? The social media brand might not be top of mind when you’re ready to market your entrepreneurial business ideas, but it makes sense.
You can grow your following organically if you don’t have a marketing budget or give it a shot with a low-budget advertising campaign. You get quite a bit of bang for your buck (or pound, franc, etc.) with Pinterest.
Our tip is to check out PicMonkey if you plan to use Pinterest. Not only is there a Pin template for both image and video pins, but it’s a first-rate graphic design tool for ads, banners, website images, etc. Even if you’re building a website, the paid plan that’s just about $100 a year includes stock images and stock videos. It’ll make your business life so much easier!
How Long Should I Be Involved in My Company Before I Start to See a Steady Stream of Income?
Given that most start-ups take years to establish a healthy and reliable revenue stream, you’ll need to assess your finances and figure out what you’ll do in the meantime. Turning your homegrown business idea into reality has a personal aspect to it as well. You need to decide how long you’re willing to invest to reap the benefits of your investment.
You’ve heard success stories of instant-hit businesses, along with others that limped along for years before something clicked. There are all kinds of exciting entrepreneur business ideas, but implementing them is a different story.
With your own business, you’ll never reach the finish line. However, the more creative, motivated, and willing to experiment with new marketing programs, the quicker you’ll be a contender in the race.
The Bottom Line
In conclusion, one of the most rewarding, demanding, and exciting endeavors anyone may undertake is to become an entrepreneur. The transition from an employee to a self-starter is well worth the effort if you want to take control of your career. You’ll create something that gives you long-term control, providing yourself with the ultimate in independence and versatility.
Wait… there’s more! Keep reading…
Wait – One More Q & A About Implementing Entrepreneur Business Ideas
Before you go – this is Lu with OTL (City Guides, Seat Fillers, and Guide Me to Mentors), and I have an answer to one more common question entrepreneurs ask.
Where do I turn when I have questions or simply want to bounce some ideas around with another business professional?
This particular question is one of the primary reasons why we started OTL Guide Me at Home mentoring.
I’m an entrepreneur overseeing OTL, and my expertise involves building websites, content writing, and marketing. But I’m an old-school marketer specializing in grassroots programs. So, it’s frustrating when I feel lost with something new like Google Analytics.
Step by step guidance
I read manuals, watch videos, but there are times when I could really use someone to walk me through my particular situation.
For example, with Google Analytics, I’d love for someone to show me where to put tracking codes and what I should be monitoring and improving. In a half-hour, I’d be ready to move forward instead of banging my head against the wall.
So, if you’re an entrepreneur and in the same boat, needing support or answers to questions, OTL Guide Me at Home is an inexpensive and handy solution. You get 30 minutes on the phone or video chat with the expert of your choice for just $35.
One of the most common questions for entrepreneurs turning their business ideas into viable operations is how to find a mentor, and now YOU have the answer.