Being an entrepreneur is not easy. You’re diving into the unknown, often going where no man or woman has gone before. Even though you may be working by yourself, with a partner or small team, you’re going to be quite busy.
There’s always something else you could be doing, some extra step you could take in order to better prepare yourself for tomorrow. While you may have the perfect plan laid out, there are still a few things you need to make sure you are doing to be the best entrepreneur out there.
Become online savvy
The internet is king for everything these days. Chances are, you are reading this from a small device which lets you connect to just about anything in the world with the touch of a button.
That’s why it’s so important to make sure you are making your online presence. No matter where you are in your entrepreneur career, whether you’re working on your online business or are just in the early stages, being online savvy is crucial.
Let’s say, for example, you are building a website to help attract visitors and potential customers. It could be a website that simply presents your store’s information and business hours, or it could be a marketplace where you are selling products or services.
If you’re trying to save overhead costs, you might be doing this website yourself. But you have a lot of steps to do, like choosing a domain name, familiarising yourself with SEO tricks and designing the layout.
You’ll want to do all the research you can to make sure your website is being seen and not cast to page 13 of Google.
The same goes for your social media presence. More and more people are going through social media for their news. People are spending more time on these sites, so while they’re scrolling through, you’ll want to make sure they are seeing your pages as well.
There are countless tips and tricks to getting ahead with your online presence, and it’s wise to start doing your due diligence and research as soon as you can.
Keep networking
Even though you may have built up your initial network like partners, investors or clients, it’s always good to have your card ready to hand out to people.
Now, you don’t want to be “that guy” who at every party is handing out his business card, ruining the overall ambiance with nothing but business talk. But don’t be shy to be willing to talk to anyone and everyone.
You never know, your friend’s cousin’s husband may be in a similar position or may have some way to help you. It pays to be an extrovert in the situation.
In that sense, don’t be afraid to ask for help. Too many times, we see entrepreneurs cross the line from confident to cocky, only to falter and have their plans ruined or severely delayed. If you reach a point where you’re completely lost or in over your head, reach out to an expert or others who are in similar situations.
Watch your finances
Many small or emerging businesses mention cash flow as being one of the big problems. That’s no surprise, as the majority of businesses take a few years before they can turn a profit. Make sure you are prepared for the potentially rocky road ahead. Do as much research and planning as you can with your finances so you’re ready for whatever gets thrown your way.
The biggest red flag in all of this is debt. Do as much as you can to avoid debt, even if it means offering clients a discount here and there. Debt is a scary hole that is only more difficult to climb out of the longer you stay in the hole. If you don’t have any cash left over, your great idea could crumble before you ever really feel like you got started.
Go over your books with an accountant or by yourself on a regular basis to make sure everything is up to speed. Your budget was made for a reason and you need to adhere to your previously set guidelines. Just be smart about your finances and don’t leave it on the back burner.