subject: Top Three Business Tips for the Entrepreneur [print this page] The business media is filled with business advice for the budding entrepreneur. Just type business tips into any search engine and find well over one million hits. The fact is that business tips are just that- tips; what works today may not work tomorrow and nothing is a sure bet. However, some of this business advice is evergreen, meaning that they are timeless.
Differentiate Yourself From the Pack You probably got into your own business because you found that you could do something better than anyone else. Your unique abilities allowed you to make profits on product or service offerings that other people would have lost money on. Maybe you can build a website better and quicker than anyone else, or maybe you can type so fast that data entry becomes a great way to make a living. Whatever your particular strength, you are able to offer a value proposition, meaning the balance of features with pricing, that many others cannot while still making a profit. This characteristic is commonly referred to as your unique selling point, or USP. It is what makes you different from other individuals and businesses offering the same product or service. While often your USP becomes synonymous with your personal brand, it may not. You may have to work to develop a brand that accentuates your USP.
Develop Your Brand Personal branding is very important for any entrepreneur, regardless of whether he is operating by himself or maintains a large staff. Branding is the image is the image you project to the world about your business. For example, Donald Trump is one of the best-known brands in the world. While he experienced many successes that would validate his renown, he is known worldwide because he successfully marketed himself. And he is not alone; all leaders of industry are recognized and personified as individuals first and foremost. The leaders personal brand becomes synonymous with his business. Learn to successfully develop your personal brand and sell yourself; your business will thank you.
Research, Research, Research One of the biggest reasons that businesses fail is that they neglect to adapt to changing market conditions. It is easy to get comfortable with the way youve always done things and, particularly if you have been very successful with methods youve used in the past, simply not think that change is needed. In fairness even the word change can have a negative connotation; a better word would be evolve. You should always make sure that your business is evolving so that it will remain fit for the market. There will always be new types of technology, new preferred forms of communication and new niches but if you are not performing research on your field and the market for it, you may already be missing the ball.
These business tips may be evergreen, but that does not mean that they are easy to implement. Using business coaching or marketing training may be a good idea for your business. Consider using a business advisor, such as Patrick and Ann Fitz-Gibbon, that is currently practicing in the market and has a good understanding of your product/service offering and your target market. Visit www.helpingyouhelpyourself.com for more information on business training.
Top Three Business Tips for the Entrepreneur
By: Patrick Fitz-gibbon
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