In a world where entrepreneurship is not for the faint-hearted, Jay Jones shares a treasure trove of 10 invaluable tips proven to catapult your entrepreneurial dreams into a tangible, thriving reality.
From navigating challenges to seizing opportunities, each tip is a golden nugget designed to empower and guide you through the entrepreneurial maze. It’s not just advice; it’s a roadmap to success that separates the dreamers from the doers.
If you’re ready to defy the odds and propel your entrepreneurial journey to unprecedented heights, episode 495 of Black Entrepreneur Blueprint is your compass. Don’t quit; instead, arm yourself with the insights and strategies needed to make your mark on becoming a successful entrepreneur.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 495
One of the worst feelings on earth is when your business collapses and your dreams die. It’s like losing a family member. In my 20-plus years as an entrepreneur and over 17 businesses, I’ve seen my share of success and failure. Today we are going to discuss how to keep moving towards your entrepreneurial dreams when you feel like giving up.
- Identify Your Why – your “why” is the fuel that drives you. If you don’t have a clear understanding of your “why,” the chances of you succeeding are exponentially reduced. Your “why” is more than that – I just want to make more money, or I hate my job. You need to get deeper and uncover the “what does it mean,” that’s the foundation of your “why.” EXAMPLE: I want to build this e-commerce business so I can stay home with my children. I want to create passive income in real estate so I can build generational wealth for my children and create generational wealth. I want to build my mobile car wash business so I can get my family into a better neighborhood or environment.
- Who do you want to serve and why? – As business owners we are serving a particular segment of people or businesses (if you’re B2B). Who do you want to serve and why? EXAMPLE: I want to serve the Black entrepreneur community because I am a part of that community and I understand how important Black-owned businesses are for our progress to build an economic power base.
- Find the right product or service to sell – Have you done a proof of concept or testing yet? What product or service are you selling? Who needs your product or service? What problem are you solving? Are you in the right industry or vertical (you don’t want to sell coal-powered automobiles, do you)? Do people want your product or service?
- Prepare to be successful – you prepare to be successful by doing the work required Learning (always continue to increase your education and your skill set), Planning (create your business plan and write down your ideas, researching opportunities (what are some new opportunities that I can leverage – electronic vehicles market), testing- proof of concept, find a mentor or a guide
- Start with small wins – many times our goals are so big or robust to hit that we don’t give ourselves the small wins we need to keep us motivated. EXAMPLE: your first eCommerce sale is a small win, you met your sales projections for the day (not week, or month, but day), and you completed your business plan.
- Set realistic goals and measure your progress – make sure you have realistic goals – goals that are attainable but yet stretch you just enough where you have to work to reach them. Many new entrepreneurs have unrealistic goals and when they don’t come anywhere near them they get frustrated.
- Surround Yourself with positive people and like-minded people – being an entrepreneur is tough enough, but if you surround yourself with negative people who don’t support your dream they will only bring you down. You want to find a network of like-minded entrepreneurs that speak the same language as you do – called “BOSS.” Not many people speak that language or understand it, it’s foreign to most people.
- Build your platform from day one and exponentially increase your chances of success – platform building is the long game, and many entrepreneurs don’t understand the importance of your platform or have the patience to create one. A platform is a way to communicate with your audience and is something you own (podcast, website, blog, newsletter, database, etc). When you own your platform you are in control and you have multiple revenue opportunities to help grow your business.
- You must be consistent – you must be consistent in your actions to grow your business. Consistently work on your business, consistently provide quality content for your audience, consistently communicate with your audience, consistently improve your products and services, consistently improve your business.
- Treat Your Business like a business, not a hobby – many entrepreneurs treat their business like it’s a hobby. You get out what you put in. Don’t expect to create a full-time income with part-time work. Take the time to make your business look like a real business and not a hobby. EXAMPLE: get a professional email account, not AB********@gm***.com, and Have some sort of website presence even if it’s just a landing page