Is Entrepreneurship a Skill or a Trait →

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The traditional definition of an entrepreneur is “an individual who creates a new business, bearing most risks and enjoying most rewards. The entrepreneur is seen as an innovator, a source of new ideas, goods, services, procedures and business.” Being an entrepreneur isn't just acting on an idea that pops up; it is using the right skills to make that idea work.

Why have so many successful entrepreneurs started in sales? The answer lies in the unique skills and experiences that salespeople bring to the entrepreneurial table. These include building and maintaining relationships, effective communication, negotiation skills, and understanding customer needs and wants. Through their daily interactions with customers, salespeople develop a deep understanding of their needs and wants. This customer-centric approach, when applied to entrepreneurship, can be a game-changer. When salespeople are the main point of contact between the business and potential clients, they often act as entrepreneurs, leveraging their sales experience to drive business growth.

Successful salespeople have relationships and trust with their clients and often learn of their needs as they are developed. A seller of ingredients will learn of changes and needs for packaging or new equipment early in the new product development process. The first entrepreneurial step for that salesman is to find a source for these new items and a contract to represent or profit from the start in ongoing sales.

An entrepreneur is not just a person who identifies a need and starts a business to fill that void. They are the ones who, through their innovative new products, services, or ideas, create needs and demands that were previously unmet. This proactive approach to business, driven by creative ideas and solutions, is what sets entrepreneurs apart. They don't just respond to existing needs; they shape the market with their vision and ingenuity, inspiring others to do the same.

An entrepreneurial mindset is an attitude that means being open-minded, using critical thinking, and being resilient when times get tough. It also means anticipating needs and looking for solutions, not problems.

Entrepreneurial success comes down to knowing your product, understanding your customer, and having a personal drive for success. Understanding your customer is not just a part of the sales process; it's a key to unlocking their needs and wants and, ultimately, your success.

Are Side Hustles Entrepreneurial? →

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Have you ever heard of a side hustle? A side hustle is a way to earn extra income outside of your regular job. It can be anything from selling handmade crafts online to driving for a ride-sharing service. The idea is to find something you're passionate about or good at and turn it into a profitable venture. Many people use side hustles to pay off debt, save for a big purchase, or supplement their income. It can require extra time and effort, but the payoff can be worth it. It's a way of making extra money on top of your full-time job. This can come as freelance work or piecework, providing an additional income to supplement your regular earnings. Some people call it moonlighting or gig work.

Being entrepreneurial is another way to create opportunities and profits. Entrepreneurs often have deep knowledge of their industry and use that knowledge to create new ideas. It can also mean sharing ideas freely with others.

If you want to become an entrepreneur, starting a side hustle can be a great starting point. It can help you achieve financial freedom and allow you to focus on your passions. Many people turn their side hustles into full-time businesses because they're so passionate about what they do.

Passion is often the driving force behind successful side hustles and full-time businesses. When you have a passion for something, it fuels your desire to take action and achieve your goals. And sometimes, the side hustle can be more fun than your regular job, which can be a sign that it's time to start looking for a new opportunity.

Finding your dream job starts with understanding yourself and your passions. What do you love doing? What drives you to take action? These are the areas where you're most likely to find your dream job. So, don't be afraid to explore your passions and turn them into a successful side hustle or full-time business.

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Freelancers should use Social Media to attract Business to their Website →

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Social media is essential for a business website because it allows the business to reach and engage with its target audience regardless of location, generating brand awareness, leads, sales, and revenue.

Entrepreneurs often have thin staff, and their website is the storefront for the business and where information can be exchanged.

Social media increases brand awareness and messaging, but overall, it is a narrow focus, but the website completes the picture for its contacts. It's a chance to showcase what the business stands for in the public eye.

Social media is excellent for promoting your services and shouting out about what you can do, but the media posts need to have a landing page where the potential customer can go to find you and learn more.

This landing page or website is as important as your social media profiles. For example, if someone finds you on Facebook and clicks a post but lands on an out-of-date, old website, they will move on to the next freelancer.

Updating the website (or landing page) and ensuring it’s always up to date is essential. If you change your prices or provide service, update your website. Make sure the content has a reason for being on the landing page. Pictures and graphics of everything the business does are fine, but the landing page must communicate the business's professional image.

So that you know, contact information needs to be completed. Location addresses, phone numbers, email addresses, product listings, and hours of operation are expected to be the first thing you see on the website.

The social media and the website need to include a “Call to Action.” State clearly what you want the contract to do. One thing you want them to do on social media is to go to the website, so the proper link is needed to help them do that. Other calls to action can inform of specials, unique offerings, or even request that the contact offer a “comment.”

Why Your Business needs a Website and to learn to use SocIal Media to promote the site. →

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Most businesses need a website in today’s world. The main reasons usually establish awareness, legitimacy, creditability, trust, sales, and information for prospective and current customers, the public, and suppliers. It becomes a marketing tool and presents and showcases products and services.

The website serves as a storefront. A report in February 2021 from PRNewswire mentioned that 28% of small businesses don’t have a website, and 44% of those don’t plan to create one in the coming year.

The need for a website is so strong that some small businesses ask themselves if they can even open their doors without first establishing a presence on the internet. The answer to this question is that you can open a business without a website and drive sales by gaining customers in the traditional ways: word of mouth, referrals, and mailing lists. Social media. Pamphlets, ads in local publications, and even handing out business cards. There is nothing wrong with these traditional ways of promoting a business but some essential benefits will be missed. All the conventional methods will be more effective if a path to the business’s website can be included.

The Business Website is Important Because:

1. It is the doorway to the business. It welcomes customers, suppliers, and the community. It shows that the company exists.

2. It will put your name on Google and have an internet address that can be included in your marketing materials. Directions to the business, product lists, business hours, phone numbers, and even prices can be found easily.

3. Potential customers will be using the internet to find where the products and services they want can be found. The website allows you to be seen by those who are shopping on the web and will be new customers.

4. It expands the reach of your business, making what you have available to the entire world if that is what you want.

5. Details about your products and service can fill pages and allow customers to dig deeper into their research for their needs. Links to sites that mention your products can be included.

6. Your website gives your social media posts a goal and a vital purpose. Those posts can stress products and benefits, but with a website, social media can and should direct traffic to the website. Social media posts are often just one-shot efforts, but getting clients to use your website will bring them back to it again and again.

7. The website can be set up to take orders, receive payments, and trigger shipping.

8. The website can build a relationship with your customers over time as they return. Added videos and resource information add to the relationship and buying experience.

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Listen to the Marketplace and it will tell you what to do →

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The marketplace for products and services exists where consumers and product users are. At a Regional Fair, the entrepreneurs are not just presenting but often it is a destination for those who want to listen to the marketplace when things are breaking.

HYPOTHETICAL COMPANY A sells out, and new owners take over. The new owners review processes and procedures to increase efficiency and profit. They find that the starch used in making their ranch dressing product is very costly and seems almost identical to one offered by another company for a lot less money. The formula is so similar only a minimal difference appears on the ingredient statement, and it is not even the first ingredient. They changed to the other product and used it to make their companies well known for ranch dressing.

HYPOTHETICAL COMPANY B has been buying and using the ranch dressing made by company A for years, and since company B is a distributor, they have many customers who buy it from them.

HYPOTHETICAL COMPANY C buys the ranch dressing from company B. They have several local restaurants and a booth at the Regional Fair this year. They have used this same ranch dressing for years, making their Avocado-Ranch Chicken Wraps famous. They also use the sauce in their Slow-Cooker Buffalo Chicken Dip, which is not as renowned as the Ranch Chicken Wraps but is very popular. Both menu items are used in their Fair booth and their local restaurant. One of their signature sandwiches has ranch dressing as a critical ingredient.

On the first day of the Fair some of the customers notice that the taste of the Ranch Chicken Wraps is a little runny and seems to taste a little different. By the second day the few customers have told others and some have experienced the same thing and new complaints about the Buffalo Chicken Dip have been made.

HYPOTHETICAL COMPANY D is a compeitor to company B. Company B and D are both distributors trying to supply the restaurant group and their salesperson is at the resturant while the staff are talking about their special products sales drop off this year and talking about the the sales on the same items they have in the store discussing if something is wrong.

LISTENING TO THE MARKETPLACE SALES PERSON hears what has happened and decides to come back with a solution. He buys a bottle of the ranch dressing used to make these items and after looking at it decides to check several good compeitors of the brand. He tastes them and finds one that is close to the stores brand but a little thicker. He also knows that starch changes can effect thickness. He also has seen changes in some of the other products the ranch dressing manufacture sells since the new owners took over. The next day he takes a sample of his product to the resturant and the fair booth and gets them to buy the new brand. The brand that had the business for many years loses the business, as does the supplier who had been providing the brand.

COMMENT: The supplier who was calling on the company was right on site “in the marketplace listening. A supplier who might have just allowed their customers to phone in orders might not have found this out and the original supplier might have learned about the problem and solved the problem………….. if they had been close enough to the marketplace?

Social Media for Entrepreneurs →

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Social media helps increase brand awareness and creates a way to get your message out to the marketplace and show what your company does and what it stands for. Reinforce with your suppliers, employees, and potential customers that you exist. Even if you have some sales and think you are on track, you need to build momentum. LinkedIn, a great social and professional network, has an excellent article on How to Find What Social Media Channel You Should Be On.

Entrepreneurs know that if they “listen to the marketplace, it will tell them what to do.” That is a crucial motivation to becoming an entrepreneur, and it is often the people on the front line of business working with customers who get the best ideas. If you are already in business, social media is a tool to ask the customers how you are doing. A fancy way to say this is that you find your best beta testers on social media.

Social media allows you to follow your competitors, suppliers, and customers. Each source will have different viewpoints on your business segment, but you can gain insight that would take months and years to achieve without this tool. LinkedIn clearly states that they want to have a community that collaborates. By interacting with your connections, you build resources for your collaboration needs.

Your entrepreneurial community can offer advice and support, and you will often find yourself more trusting and willing to open up to your entrepreneurial peers. Some will become mentors, and often, there are support groups.

Connections Matter