Ways to Improve Your Entrepreneur Network

Whether you're an aspiring entrepreneur or an experienced hand shaker, you can always gain more wisdom on ways to improve your entrepreneur network.



PUBLISHED BY
Anna Domanska



TAGS:


9 months ago




How-to-improve-entrepreneur-network

The perfect dream job for many is to be their own master and answer to no-one. No boss problems, colleague jealousies, and petty office politics is worth the risk of floating your own venture. Added to this is the new pandemic scenario, which has led to many losing their jobs and being made redundant. To fly solo and start on your won may become a necessity for many post-pandemic. Freelancing, becoming a contractor or consultant will be the future for many, and much of this will bank on how you increase your entrepreneur network.

Doing business on your own needs one to be innovative, organized, and diligent. It is better to start small in the beginning. Try to operate from a small space or home office. And once you find your feet then think of expanding and hiring staff etc.

 Here are a few tips that will help create and grow your entrepreneur network.

Marketing + Networking

Entrepreneurs need to be good at marketing and networking. To garner business, you initially need to build a personal brand and equity especially if you are a freelancer or a consultant; you need to be more visible and build a portfolio that can be shown or accessed easily.

Use social media to connect to likely clients and update people of the activities. Become a part of forums and digital communities. Participate in digital events. Networking with known sources and people from within the community is also essential to know of likely leads to follow. Having a website, social media presence, etc. to distinguish yourself from the competition is imperative to stand out. Entrepreneurs need to have an active digital presence. People look for leads, source business needs etc. from the internet. It is the yellow pages of yore.

A marketing study says that 47 percent of revenue will be driven by digital marketing in 2020. Considering the post-pandemic scenarios and the social distancing norms that will be in vogue for a long time to come, going digital is the only answer. People will prefer to connect virtually whenever possible.

The proliferation of video conferencing apps and the widespread acceptance of doing business virtually will see this number going up sharply. On top of that, 56% of CEOs believe that improving their digital strategies boost profiles and grow their entrepreneur network.

Element of Risk

An entrepreneur needs to be a risk-taker. He/She needs to move out of their comfort zone. That means connecting and making your presence known to all in your business verticals and even laterally. Be organized, use enterprise tools to help you sort out your calendar, emails, social media presence and contacts.

If the business grows, outsource some of the tasks. If you are a writer and need some graphics, instead of doing it all, find someone who is in that field. You can collaborate and generate income for others this way, adding to the economy. Have a business plan in place. A well thought out business plan is almost 50 percent of the task done for new entrepreneurs. A well laid out plan helps you budget well, set goals, and even enables you to get financing.

Your business should be niche and sustainable. It should fill a gap in demand for a product or service. Being too niche or generalized limits your customer base. Your business takes off, and your revenue is steadily rising, which means the company is paying for itself and is a good thing. But is it making money? Instead of concentrating on the revenues, focus on profits. If the business is eating up all the money you are making, then it is not profitable.

It cannot be emphasized enough that everything is about building a customer base, sustaining the same, and expansion. Find unique ways of engaging with the customers. Event planning, promotions, and digital reach are marketing mantras that need to be followed.

 

Whether you want to stay up-to-date on the latest business news, read in-depth CEO interviews, or find new ideas on leadership, management, and innovation, Industry Leaders Magazine is here to suit your needs and help you stay more informed.

Avatar
Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

Store Closures Cost European Retail Giant Primark $1.43 Billion in Sales

Store Closures Cost European Retail Giant Primark $1.43 Billion in Sales

The European retail giant Primark said the COVID-19 had caused a loss of over $1.43 billion (£1.05 billion) in sales from store closures. T...
1 day ago
Goldman Sachs to concentrate on consumer banking arm Marcus for growth

Goldman Sachs to concentrate on consumer banking arm Marcus for growth

Goldman Sachs Group Inc. is firming up plans to bolster its consumer banking arm Marcus through acquisitions and concentrating on digital ba...
1 day ago
General Electric claims Siemens Energy used stolen theft secrets to win contract bids

General Electric claims Siemens Energy used stolen theft secrets to win contract bids

General Electric Co. has accused rival Siemens Energy AG of using stolen trade secrets to rig bids for lucrative contracts supplying gas tur...
2 days ago
U.S. Trade Department Slams Digital Services Tax

U.S. Trade Department Slams Digital Services Tax

The U.S. Trade Representative on Thursday said that the Digital Service Taxes (DSTs) in Spain, Austria and the U.K. is unreasonable and disc...
2 days ago
Bitcoin volatility attracts regulatory attention

Bitcoin volatility attracts regulatory attention

Touted as digital gold, Bitcoins have seen some volatile action in the last few days, with the cryptocurrency hitting nearly $40,000 at one ...
2 days ago
Renault plans to overhaul brand with Renaulution aimed at cutting costs

Renault plans to overhaul brand with Renaulution aimed at cutting costs

Renault has come up with a new plan called Renaulution to turn around the fortunes of the car company by concentrating on value rather than ...
2 days ago