Three Tips for First-Time Entrepreneurs
So, you have an idea for a business. Now that you know where to go in Northeast Indiana for all of your entrepreneurial needs—what exactly should you expect to do? […]
So, you have an idea for a business. Now that you know where to go in Northeast Indiana for all of your entrepreneurial needs—what exactly should you expect to do? You have all of these resources at your fingertips, and if you’re a first-time entrepreneur, you may feel like you’re swimming in them (and that’s a good thing, we promise!). While it takes time to find the right partners in the right categories, here are three tips you can implement today that will get you on your way to achieving success.
Write it Down
Undoubtedly, you’ve spent some time thinking about your business idea. What needs it will serve, if there’s a market for it—you’ve at least considered it. Have you also considered who your competitors would be? Have you considered what you like about what they do, or what you don’t like? How you’ll be different? Whatever it is that you’ve thought through so far, write it down. It’s easy to lose track of ideas, thoughts or even research, but when you put all of your ideas in writing, it’s easier to track and advance. Plus, when you’re ready to meet with a business planner or strategist, you’ll be prepared to answer questions and have a productive meeting.
Identify Your Support System
Entrepreneurship isn’t for the faint of heart. But you shouldn’t have to bear the burden alone. Your support system isn’t your potential business partners, investors or colleagues—it’s your friends and family who will be your initial sounding board, and who will help you achieve a healthy life balance in pursuing your dreams. Identifying these few individuals in advance will help you keep on track, personally and entrepreneurially. And when your internal support system is strong, it’ll better prepare you to build your external support system.
Attend a Networking Event
Okay, maybe you won’t necessarily go out and attend a networking event today, but you’ll definitely be able to search one out and RSVP. Networking events lay the ground for your external support system; your community. Consider a diverse set of networking events, too—networking events for entrepreneurs, networking events for businesses in your industry, even networking events for businesses that aren’t in your industry. Collaboration exists across all sectors, and you may find support and opportunities where you least expect them. Take this opportunity to learn more about other people, their businesses and their experiences before even sharing your own ideas; but if it rises to the occasion, dive in. It may even help you identify an educational opportunity or potential mentor.
It’s an exciting time to accelerate your career or business in our region. For first-time entrepreneurs, there are a plethora of resources available, but your business starts with you.
When you’re ready for us, we’re ready for you, too.