Have you ever thought about the struggles and obstacles to become an entrepreneur? Being your own boss is a gamble. In a globalized world, where competition can be argued to be at its highest, the business platform has to stand out on a global scale and the ideas unique from any others. Success is determined by various factors that work together. An entrepreneur needs to develop specific skills like consistent problem solving, how to leverage social media, and business culture; because it can have a significant impact on the foundation and roots of a not yet established entrepreneurship.
How is a problem defined or observed? Entrepreneurs identify the problems, and they want to work to solve the issue and care passionately about the solution, which specifically gives the team a concrete goal to respond to and create around. The passion combined with the urgency of the problem, drive us to make a change, develop new ideas and catalyze people to solve it. Venture owners face considerable odds and opportunities when identifying problems. While some of the challenges cannot be predicted or avoided, many can.’The most successful entrepreneurs are those who first identifies a key problem in the market, then work to solve that problem.’ (Oldford 2018).
Making a decision is better than no decision. Decision making is important for one’s business. This is a key part of any business and a key function of its success. Within a business, there are three types of notable categories, which consist of reactive, proactive and strategic decision-making. Most entrepreneurs aren’t aware of the paradoxes, so they just make the decision that they think is best.
First, reactive decision making is where one spends only a brief bit of time thinking about the decisions one makes because reacting to everything around. It is unremarkable to feel as if an entrepreneur isn’t on top of things and never have enough time. Much energy is used doing this, therefore the business has less energy for things that matter within the business. A reactive decision can change once it elevates to the next level proactive decision-making. (0ldford 2018)
Following with, Proactive decision making is the second level which is where one expects 90 days in advance. Instead of waking up each day putting out fires, the entrepreneur identifies what to do and when to do it. There will even so be fires but the entrepreneur will maintain a team performing this with one. With help of a team, it will have time for more important matters.
This stage is important because the business now have more time and energy, can understand the cash flow, where it will be in 90 days and also generate a plan to get from A to B. In this stage one can see what’s coming at the business before it gets to the business which is why it is important to get to this level as soon as possible. Now it has control of the business and can proactively deal with obstacles so that mistakes don’t go out of control. (Oldford 2018)
Furthermore, an entrepreneur isn’t truly organized to allow the business until it reaches the final level strategic decision making not all entrepreneurs make to this stage. Entrepreneurs whose decision making is based on strategic thinking owns the most impactful business and enjoy abundance, freedom and true happiness. Not only the business is aware of what’s going on today and in the foreseeable future, but it also appreciates where the business is going in the few years.
The impact that one makes for the team, audience, and business is now understood. Although one may not know exactly how one will get there sharing a vision is more successful and the business knows the fundamentals on how one will do it. This process does not come from talent or skill but growth is driven by the mindset. Begin with thinking proactively, then grow to think strategically so that one can be a successful entrepreneur. (Oldford 2018).
After all, an entrepreneur will be experiencing multiple dilemmas. Problem-solving is one of the most diligent aspects of entrepreneurship. As both the founder of one organization and the leader of the team, an entrepreneur will be responsible for identifying pragmatic situations, and making overall decisions for the business. These are the skills thinking/creative requirements for business, and these will set the direction to a successful future. Without this, the business owner will have to rely on others who aren’t placed in the role of leadership and therefore don’t have vested obligations to the overall survival of the brand.
An entrepreneur should leverage social media to engage the most customers. Social media endure the modern way an entrepreneur can be most successful. Having a great media platform can cause exposure, finding out what products are supported that may assist in an increase in sales. If all entrepreneurs took advantage of social media, help the business achieve net gain impressive growth. Giving the business rooting out on social sites can cause either an impact that will help your business tremendously. Promoting a product one doesn’t like can cause sales to drop but inform what not to give out. In addition with a meaningful impact, it can cause the entrepreneur to learn what buying habits put out for a business which increases sales. (Driver 2019)
As the first paragraph stated, the business platform has to stand out on a global scale and the ideas unique from others. This includes Instagram, Facebook, Twitter, etc which can have a significant impact on your growth across social media. Social media increases an advantage for new business owners arise. Social media is growing every day and each site gains users daily. Businesses are given a chance recruit customers at no extra cost to them. Social media and businesses are now intertwined and they work together more than ever. It is one of the most effective forms of online marketing.
Additionally, Social media allows an entrepreneur to build a loyal following and sharing the product or brand around the world. The followers are the targets to the social network and the business audience is active on. ‘It’s all about identifying where your target audience is active,’ said Kramer, ‘and creating a message that the audience will identify with. You don’t need to speak to everyone — you just need to speak to those most likely to engage with your brand.
This begins with knowing where your audience is.’ (Driver, Saige) One simplified username and an interesting page can catch the attention of past present and future customers alike. Social media has become more than connecting with friends it is now a tool that can be used to connect a business with its customers allowing owners to create with no added expense to them.
A company’s culture can be defined as the character and personality of an organization or business. The business culture makes the business stand out from other companies because it represents the values, beliefs, and goals of the business. (DeMers 2015) The impact of one company’s culture ultimately leads to long-term success for the business overall. In addition, establishing an impactful business culture will develop a successful entrepreneur.
One essential reason entrepreneurs should create a compelling culture for business because it will allow the business to grow. Truett Cathy, the founder of Chick-Fil- A, created an extremely effective company culture which has allowed his business to grow rapidly. The company has experienced over a 10% sales increase almost every year since launching in 1946. Truett Cathy established this effective culture by understanding the purpose of his company and making sure that all of his employees abided by this culture. The company’s goal is to glorify God by being a faithful steward of all that is entrusted to us and to have a positive influence on all who come into contact with Chick-fil-A.’.( Kruse 2016).
Another reason an entrepreneur should have a well-established business culture because it attracts talent employees. As an entrepreneur, the success of one business not only relies on an entrepreneur, but it also relies on the team of employees that are hiring. Therefore having a great team of employees will make one successful entrepreneur. If an entrepreneur has a well-established company culture, then finding new talent won’t be so hard.
Talented individuals will be excited to be hired at the company. For example, Google is known for its active culture. Google creates a fun working environment for its employees causing them to appreciate the job they’re doing. They offer generous meals, employee trips and parties, financial bonuses, open presentations by high-level executives, gyms, a dog-friendly environment and so on. ( DeMers 2015).
Lastly, effective company culture will produce the company a competitive advantage which will develop a successful entrepreneur. A company with a unique culture is more likely to attract long-term customers who stay loyal to the company. Which could also lead to investors who admire the company’s culture and would like to regard to the business expand.
Clearly evidence point to, an entrepreneur needs to develop specific skills like consistent problem solving, how to leverage social media, and business culture; because it can have a significant impact on the foundation and roots of a not yet established entrepreneurship. While following all of the steps above would guarantee success, they can help the business to stand out on social media and have a great culture platform. Remember Every problem has solution with decision making.