10 Things Young Entrepreneurs Need to Take Care of

By: Sahara Ali

Heading over 200 million, Pakistan is the world’s sixth largest population base. This base with its constantly permuting trends has a huge number of Pakistani entrepreneurs abroad and reportedly increasing number of local self-employers. But there is still lack of awareness found among people interested in setting up a new business due to which a lot of business niches still remain un-tapped.
Here are a few things young entrepreneurs should take care of:

1. Don’t follow – Stand Out

Entrepreneurship is all about being impassioned enough to take risks. But what most people fail to realize is that they don’t need to start a business because someone else has been successful at it. Remember: You can never copy someone’s decisions or luck.

2. Don’t come up with great ideas – Solve a market need

You would surely be a genius and would have lots of great ideas popping out of your head. Wait! Does any of your idea solve a real world problem? If Yes? Don’t think further, act. If No? The rest is all crap.

3. No solution – No reward

If you are unable to propose solution to a problem, chances are you would end up wasting your time.

4. Define your goals – You cannot please everyone

Once you have worked well analyzing your idea, set your goals. Make short term goals achieving them one by one. Do not run to please everyone rather target a specific audience.

5. Welcome Criticism

Not everyone is going to love seeing you progress. Welcome all types of criticism and let it help you constructively. The least it would do is that it would make you strong.

6. Don’t make choices – Create choices

It’s your idea, work on it your way. If it’s difficult for you to choose between Choice A or Choice B, create Choice C. This implies to keep a backup plan ready for all types of situations.

7. Create ease – Complexity is over-rated

Always try to create ease for the user. No one is going to waste his time digging into your complex work. Keep things easy. Save your and others’ time. It will save you double the money.

8. Make relationships – Not deals

Compete but not envy. Keep on networking in the market. At the same time build relations with your customers and product consumers. Making contacts is more important than making money.

9. Be available 24/7

Once your work is up in the market, the next step is to build trust. Show people that you care. Remember you’re still in the preliminary stage. Be available round the clock.

10. Be optimistic 

It is a long journey Be prepared for failures. You can lose all the money that you have invested in the business. On the contrary you can make four times your investment. Don’t lose hope. Be passionate enough to keep your idea alive. And in case you fall seven times, get up eight.

 

Ambassador of JumpStart Pakistan



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