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The Secret to Being an Entrepreneur is not Mentioning it

Giorgi Mikhelidze

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The Secret to Being an Entrepreneur is not Mentioning it

We have heard so many successful enterprise stories that achieving such a triumph and starting your own business seems fairly easy. Tell someone about your job as an entrepreneur and they will most likely think that the wealth you make is already difficult to measure.

The entrepreneur culture that is broadcasted on media channels and is written about in influential newspapers rarely reflects the truth. Every leading business is seen as an overnight success. However, what many do not realize is that setting up and running an enterprise requires tremendous dedication, motivation and time.

Elon Musk, a billionaire and CEO of SpaceX has always talked a lot about what it takes to lead the global change. This is what he wrote on Twitter: “There are way easier places to work, but nobody ever changed the world on 40 hours a week”. He later asserted, that on average he works 80-120 hour weeks. Although Musk is undoubtedly a success story, there are long workdays and enormous amounts of effort behind every enterprise we see on TV today.

What is the recipe for having an entrepreneurial success story to tell

First things first, there is no limited edition guideline that will help your enterprise earn millions in a blink of an eye. The truth is that every one of us, as well as our ideas, is unique. We live differently and have our own lifestyles, even if it is believed that everyone is the same in the globalized world.

As a result, only the one leading the enterprise based on their ideas can shape the future of it. However, there are quite a few general findings that you should read through before kicking off.

Take the crypto industry as an example. Most of it is powered by the innovative nature of individual entrepreneurs, but the project itself is always completed by a large team. The idea the author themselves has to be humble in this case as he or she has expectations from the team and earning their respect is a priority.

According to this Bitcoin Rush review, even a small company can dish out a very successful product, but with small companies comes more socializing and a much better bond between the employees. In this case, the innovative nature of the individual entrepreneur that started the company was enough to motivate most of the team and create a solid product in the end.

If we see reviews of other similar products, we will see that the majority of failures come from inattentive programming or design, which is directly derived from miscommunication or lack of respect in the team.

Setting your expectations high will not be any beneficial

Besides the general public, many young entrepreneurs have misleading beliefs about the early stage of development. When something potentially fruitful is being created from scratch, the risks are quite high. One should not anticipate the work process to be easy either.

The majority of those thinking of turning their ideas into a reality estimate that after a month of working with a couple of friends in a cramped garage at parents’ house, the enterprise will certainly flourish.

The truth is that starting off is the most difficult stage and it is not even that short. Although it might include being based in a garage, it is not nearly as exciting as it might sound.

Already accomplished entrepreneurs often say, that taking this first step sometimes takes more than two years of hard work. Thus, one should always evaluate their current possibilities before becoming an entrepreneur:

  • Am I committed enough to dedicate the absolute majority of my time to this project?
  • Are the important ones, family, and friends supportive? Will they keep encouraging me to accomplish my goals once I actually start working on them?
  • If not, do I have another emotional support mechanism? Can I risk relationships, losing friends and being far from the family?
  • Am I aware of the long timeframe my enterprise might have? If yes, are there any events potentially interrupting with work in the upcoming 2 years?

Thinking about these questions is of utmost importance. Becoming an entrepreneur is not easy and being ready for challenges almost everyone faces at an early stage will not only help you but also those around you.

Be passionate about your ideas and believe in what you are trying to achieve

Probably you are not taking a small loan of a million dollars from your relative to build a luxury residential skyscraper in Manhattan. However, the idea you have is something you are enthusiastic about and that is what matters.

Dedicating so much of your time, energy while putting your relationships with the loved ones under danger is not worth it for something you do no feel truly passionate about. Think about the upcoming, roughly two years.

You will have to pull all-nighters, research and sometimes even be isolated working on only one thing. It should at least be worth a try, but if you are not certain about it, try to re-evaluate your plans. Changing the plan before you start executing it will be much easier than after some work has already been done.

But do not be afraid of being flexible with the vision

Your vision might determine the entire future of the enterprise. It is simply great if the strategy established at an early stage works until the end. However, this rarely is the case. Some believe that if you do not stick with a single agenda, everything will start falling apart.

However, the truth is that failures and changes will come and go a lot throughout this journey. It is absolutely natural to make mistakes and face your own defeats.

The important part is to manage them efficiently. Everyone, including successful entrepreneurs, is constantly experiencing downfalls, but we should not let them shape our actions. Instead, our failures should be used as learning experiences and motivators for future success.

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Just like with minor or major personal and professional failures, pivoting your company’s strategy if there is a need will only do good for it.

Setting up a Twitter account might not essentially be the most beneficial first step

There is one big mistake young entrepreneurs often make and it’s often caused by the surrounding environment. Running an enterprise is something that will catch almost anyone’s attention. People love innovators and success stories. It is obvious that anyone with a tiny bit of ambition of achieving something as a leader has thought of it.

Unfortunately, instead of working harder and more importantly smarter, entrepreneurs sometimes spend more time promoting the product or service that does not yet exist.

They keep mentioning their work, attend relevant social gatherings and gain Twitter followers while lagging behind with the actual work. Not that the money and fame that come with success are not great, but setting the right priorities at an early stage will probably be more useful.

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Giorgi is a financial analyst and news reporter at forexnewsnow.com. He has 3 years of experience trading and working with the Forex and cryptocurrency markets. His experience helps him to deliver quality information to every reader.

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How to Build Your Brand While Attracting Global Customers Online

Giorgi Mikhelidze

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Interview With Temitope Adebayo, Brand Strategist and Designer, Must Read

Entorm Editor

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temitope adebayo on entorm

Building a brand is not easy, it requires a lot and many people have failed while trying to build one. It is very important for one to know everything required to build a brand and how to outsource one.

Today, we have Temitope Adebayo in the house, a brand designer and strategist who will be sharing one or two things with us about himself and how you can reach out to him to help you build a reputable brand.

So, are you ready guys?

Let’s go over to the interview room…….

  • Can you please introduce yourself to us? Who is Temitope Adebayo?

Temitope Adebayo is a young man with 3 main focuses in life God, Family and people. I want to live in a world where success doesn’t mean you have 100,000,000 naira in your account but a world where individuals strive to be the best of themselves. And most importantly where people are striving to be part of the success stories of the people around them. 

temitope adebayo on entorm

  • What would you consider as your biggest challenge in the journey so far as a brand strategist?

In an economy like Nigeria, the need and appreciation for actually solving problems of users and the market is not yet the focus of business. 

We are still in the service economy in Nigeria so there for companies are not seeing the need for proper branding and strategy in order to communicate and leave their customers with an experience of them. So when you say I am a brand strategist is not really important to them.

  • Tell us more about what yourself as a brand strategist? When did you start and what’s the journey so far.

I have a passion for meeting peoples need and being able to help people solve or get them closer to the desired state in their lives. I am a very emotional person, so if you tell me this thing is red I won’t be okay. I will want to know why this thing is red and what circumstance may have it change color and if so, I will want to know those circumstances and the resulting color of the object. So simply put I question everything. 

I started professionally august 2018. 

It has been amazing, I worked on different products and various brand powering them with creative ways to achieve their goals and amazing design, visual element to go with it.

  • What inspired you to go into branding?

To Create beautiful brands and products that last. 

temitope adebayo on entorm

  • Who are your current proud customers?

Corpus bds – corpus.ng

Nacos logistics – nacoslogistics.com

Power – women-power.org

Veever – veever.co

Morphgen – morphgen.ng

Core elites – elitehub.com.ng

  • Branding is quite a niche market, how were you able to make this profitable? 

Entering into the market was a bit difficult especially if you are money conscious you may not make it. I had to do a lot of free jobs and consultation, I was always actively looking for chances to engage with brands for branding and strategy services. So slowly as I started providing value it was easy to bill for it.

So for any young creative interested in making it, provide value first before you ask for money.

  • Have you ever been involved in any other Startup?  If yes, can you tell us about it and it’s success record so far?

Yes worked and still work with corpus bds, morphogen consult, core elites, Veever.

This have been successful projects as well as still thriving and doing great things.

temitope adebayo with colleagues

  • With your level of success and exposure so far, what do you think are the things that will make incoming brand designers not to see the limelight?

For the incoming strategist if you don’t have empathy and are not ready to really sit down to do research you will not make it.

One of the major skill set you need as a brand designer is content creation and problem-solving mentality. Any design that is not preceded with proper content creation is just a waste because it will not solve any problem.

  •  What are your goals for the next 5 to 10 years?

I want to be one of the renowned designers and strategist in Nigeria, I want to carry out branding projects with companies like MTN, Glo, Guiness, and so on.

I also want to champion the need for business to be more conscious of solving customer needs and building a worthy experience for their users

temitope adebayo on entorm

  •  Got some advice for Entrepreneur Platform community on why they should brand their businesses and possible reach out to you?

In business, marketing and promotion is equivalent to asking a lady to marry you, branding is why she would say yes. So if you want your customers and clients to say yes to you, then branding is important. 

A Brand is sometimes described as what your customers and clients say about you or your product when you are not there. If you want a customer to have a positive feeling for you, you, therefore, need proper branding.

  •  What do you think about us, Entrepreneur Platform in particular? Any advice for us or shout out for us?

Entorm is an amazing initiative that creates an information hub for entrepreneurs to work in and get information on important things that can enable solve the problems they have. 

Entorm should just keep doing what you doing, I love it.

It’s our pleasure having you on Entrepreneur Platform sir. Thanks for coming around. 

Below are some Design samples of Temitope Adebayo

temitope adebayo design temitope adebayo design temitope adebayo work temitope adebayo design temitope adebayo design temitope adebayo design temitope adebayo design

 

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How to Pick a Profitable Niche for Your Online Business In Nigeria

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“The Perfect and Profitable Niche Could Be Right Under Your Nose And You Don’t Even Know It”

So you’ve decided to start an online business. That’s a big first step towards financial freedom. As an Internet entrepreneur, you can escape the drudgery of the rat race and make your own destiny, bringing in a high income but enjoying a flexible schedule and ideal work/life balance.

One of your very first steps to becoming a successful Internet entrepreneur with a profitable online business is to pick a niche.

Essentially, a niche is the industry you will be in and the types of products you will sell; it’s what you specialize in.

For example, Tony Robbins is in the personal development niche. Robert Kiyosakiʼs niche is financial education. Emeka Obi (Elite) is in the digital marketing niche. There are thousands and thousands of niches out there.

There are people who help their customers eliminate personal debt and adopt better financial habits. Fitness & Weight loss is a huge niche. You also have: online money making… gadgets and technology… getting the most out of your relationship… learning to live a healthier lifestyle… the list is endless.

The key is you want to focus on one specific market that you can serve, over and over again, rather than spreading yourself too thin by trying to operate in multiple niche markets.

Not all of the niches out there make for a profitable online business. And not all will appeal to you. But in this post, you’ll learn how to match one of your passions or interests in life with an Internet venture that makes money.

That way work doesn’t seem like work.

→Why You Must Pick a Niche Online ←

Picking a niche has a lot of benefits. Being focused on one area allows you to concentrate your efforts in one direction. You know what appeals to prospects in your specific audience… how to approach them with your marketing with laser-focus so that they are more likely to buy.

At the same time, you build expert status, which speeds up the process of your prospects coming to know, like, and trust you. That’s essential to turning prospects into paying customers.

One common mistake among budding online entrepreneurs is believing that a website offering a large variety of products, something like Amazon.com, is the way to go. At first glance, it makes sense. If you have products and services that at least somebody in the marketplace is willing to buy… you can’t go wrong, right?

Wrong.

First, you don’t have the start-up budget that an Amazon has. Next, if you have 100 different types of products on your site, how will you advertise? You won’t be able afford the time and money it’ll take to put out ads, create email marketing campaigns, optimize web pages for SEO, and more for so many different topics.

Secondly, you’ll simply be overwhelmed, trying to keep track of so many aspects of your business – you’re a one-person operation.

Finally, if you focus on just one niche, you can keep selling the same customers different products and services over time, increasing the amount of money from each new customer. Rather than constantly trying to chase new customers all the time you can spend more time selling to your existing customers, which is much easier to do.

The great news is that by focusing on one niche, your start-up costs will be lower, and your path to success will be much quicker. There is also less risk. And if the niche doesn’t work out, you can move on to different one easily.

And even if you focus on one niche, that doesn’t mean your business can’t grow. You start small and then, once you have a proven marketing strategy, you sell more and more of your niche product. Then you add other similar products. And that means more sales. If you want to build your business even further, you could get into other niches… and start the process again.

→ How to Pick a Profitable Niche – Research, Research, Research ←

So you understand why picking a niche is so important. Now we’re going to look at how you figure out which niche is right for you based on your interests and the demand in the market.

  • 1. The first step is to make a list of possible ideas for your business. Go crazy here. Don’t analyze or think too much about it yet. (By the way, I always recommend carrying a notebook around to jot down ideas – you never know when inspiration will hit. The voice memo function on your smartphone is also good for this.)

Here are questions to ask yourself as you go through this brainstorming process …

  • What niches are you a customer of?
  • What are your biggest passions and interests in life?
  • What are your hobbies?
  • If you could have a dream business, what would it be?
  • Do you have any previous work experience that could potentially turn into a business?
  • Is this a profitable niche for me?

Write down anything that comes to mind. We’re going to narrow down the list in just a moment.

  • 2. Now, you’re going to pick your top five niches. Focus on the ideas you would most enjoy as a business. Remember that you are going to be pouring your heart and soul into this new venture so you want to pick a topic that you are passionate about. If you don’t enjoy the topic… you won’t be motivated to work hard to make it a success.
  • 3. Once you have your top five it’s time to look at them closely and determine if there is profit potential. Most of your research can be done online. Once you’ve found a niche that you are both passionate about and has profit potential, you’re ready to move forward and start making money on the internet.

→ Narrowing Down Your Niche to #1 ← Profitble Niche

For each niche topic you will go through the steps below. And to help illustrate these steps, I’m going to walk through the process myself using the niche of weight loss as an example.

  • 1. Do a Google search of keywords related to your niche. Search for the broad topic, as well as more specific aspects of that niche.

In our weight loss example, you could search for “weight loss,” but also “weight loss tips,” “weight loss exercise videos,” and “weight loss pills.” You’re looking for a robust search results page. Websites dedicated to the topic, articles written about the topic, blogs… and, of course, other online businesses in that niche. Competition is a good thing – it means there is a market interested and ready to buy. If you don’t find many results for your topic, there probably aren’t many potential customers online. Don’t make the mistake of thinking, “nobody else is doing this so I’m going to dominate the market”. The reality is in 99.99% of cases, if nobody else is doing it, it’s because there isn’t money to be made.

There are several services out there. But I like to go to the source and use the Google AdWords Keyword Planner. It’s free although you do need to sign up for AdWords if you haven’t already. There you search for those same keywords. If you see above 10,000 searches per month for your “main” keyword and 50,000 total for the other related but more specific keywords that’s usually a good indicator of a winning online business niche.

Google AdWords Keyword Planner remains my best tool for getting keyword volume ideas when picking a niche for my clients.

In my example,

  • weight loss” yielded 1.2 million searches,
  • “weight loss pills” – 128,500,
  • “weight loss exercise videos” – 49,200, and
  • “weight loss tips” – 11,400.

These are good numbers. There is a ready market out there for my niche.

As a side note, Google Adwords is also a great way to advertise and grow your business

  • 3. Check out Amazon.

This behemoth online retailer is a great research tool, too. (Just resist the urge to buy something while scanning the site!) Here you’re going to search for those same keywords, as well as others related to your niche. When I searched for weight loss-related terms, there were a ton of results, from instructional DVDs to weight loss supplements and so on. It’s another great indicator that a weight loss business will work well. Amazon is also a great place for you to make money selling your own digital books on Amazon.

  • 4. Finally, go to affiliate marketing sites like Clickbank.com.

This particular site specializes in information products like ebooks. But there are plenty of other affiliate sites out there. Do a search for your niche. If there are many products available, that means a ready market.

As a bonus, you now have a source for some of the first products you can sell with your online venture. As an affiliate you will promote the products and get a commission on each sale. It’s a great way to start up your Internet business because you don’t have to take the time to create your own products.

Again, it may seem counterintuitive to start a business in a niche that has plenty of competition. But having so many other companies means there is a large market of customers ready to buy products in that niche.

Picking a niche can take a lot of effort. But it’s well worth it as you’ve laid the foundation for a successful and profitable online business. Now, the real work begins. It’s time to launch that business by getting your products sorted out and begin your marketing campaigns. Having a clear niche makes that process so much easier and much more profitable.

Once you’ve picked a good and profitable niche market and have your own products or affiliate products to sell you’ll want to start to build your audience and make money with your new niche market.

See you in my next post!

 

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