Steve Jobs said that “the only way to do great work is to love what you do.” Those immortal words have become the anthem of today’s entrepreneur. Love and passion for the work being done makes or breaks an entrepreneur. In today’s small business climate, those who succeed truly believe in the work they are doing. Turning your passion into profit has its own challenges: staying motivated, engaging your community, and securing startup financing can be overwhelming for new entrepreneurs. The good news is that if you have the passion, you’re already on your way to profit! Keep these five things in mind while you’re busy turning your passion into profit:
Believe in Yourself
You have a new idea. Something different. Or a new way to do something old. Great! You’re on your way to becoming a successful entrepreneur simply by believing in yourself and your idea or product. Keep yourself motivated. You’ve identified a problem that your product or service solves. Own the solution, and love it. By truly loving your product or service, you are setting yourself up for success. Trust yourself, and follow your instincts. If you believe in your product or service, others will, too. You’ve already decided to take action: that’s the first step to entrepreneurship.
Starting a business is not only time consuming, but emotionally draining as well. You’re investing all of your time, energy, and savings into your dream, and the risks of that adventure can be stressful. Each industry, product, and business comes with its own set of challenges to overcome. Don’t let small setbacks or problems keep you from pushing forward. Keep your head up and your eye on the goal. Let your passion, perseverance, and dedication keep you moving forward. Don’t take criticism personally. Allow your positivity to outweigh detractors of your vision. You’ve got this! We believe in you!
Find Your People
Although it may seem like starting your own small business is a solitary activity, the truth is that very few entrepreneurs succeed on their own. It takes strong partnerships and inspiring people to create a community for your business to thrive in. You must also understand your industry and what purpose your product or service is providing within the market. Make sure you’re listening to what your clients need, and matching that need with your product or service. Keep an eye on your competitors by staying active in your community. Turn your competitors into colleagues and friends. Collaborate, innovate, and grow within your community. You can even set up a google alert to stay on top of new trends and information within your industry. Finding like-minded people to connect with, that can help you actualize your vision, is the next step to setting your business up for success.
Engage Your Community
Once you’ve found your community, reach out! Don’t be afraid to take chances on a new partnership, colleague, friend, or mentor. Networking is vitally important for large and small businesses alike. Reach out on social media, and don’t be afraid to promote your product or service to your community. Find out where your audience hangs out, whether on social media like Facebook or Instagram, or at a local community function or group meeting. Get out and talk to people! Tell them about your product or service, and let them know why you’re different and great. New businesses need to grow quickly to survive, and ensuring you have an active, engaged customer base is key. You believe in your vision, and they will, too!
Keep an Eye on Your Finances
Since you’re already a rock star entrepreneur, you know your business plan is gold. Beyond conceptualizing your vision, you need to plan how to finance your endeavor. While many entrepreneurs invest all of their savings into their businesses, doing so can be a major risk. BizLender has helped thousands of business owners secure capital, and we can help you, too! If your business has been operating for at least six months and has over $5,000 a month in average sales, contact us! Researching alternative lending options? Check out BizLender online or call 855-433-8641. BizLender has been offering lending solutions since 2013, and emphasizes working smarter, not harder, by using technology to fund small businesses in as little as 24 hours.