Thursday, December 9, 2010

Business Tips Corner - - For People now Starting out into Entrepreneurship

Business Tips Corner!
by: Dr. Cheryl Cottle

Be sure to drop in every week on a Thursday to share my useful tips that would help you in your journey to successful entrepreneurship!

This week's tips are specifically designed for people who are now starting out into entrepreneurship.

Love what you do and the wealth will follow: Marsha Sinetar the author of Do What you love: The Money will Follow- - Discovering Your Right Livelihood suggests that you should work at what you love and you will find the satisfaction that you have been looking for. Oprah Winfrey's also says, " . . . if you do work that you love, and the work fulfills you, the rest will come." Many successful people believe in this philosophy. Some business owners have also vouched that having a passion for what you do, makes it much easier to go through the challenges you face as an entrepreneur. It is what helps to sustain your business.

  • Get the support of others: Many entrepreneurs, particularly women tend to start a business alone because it often comes out of a great need. It can either be as a result of being divorced or the death of our spouse and we have to find alternative ways to support ourselves and children. It is wise that you get the support of someone to assist you in the event that difficult situations arise. If you are unable to get a friend or a family to support you, then it is wise to get a mentor. Join groups where you can also get the support. With the technology that are available, you can join online forums and others social media forum to network and share common experiences.
  • Create a Business Plan: A business plan will provide you with the road map that you need when thinking of getting into a business venture. It will provide you with valuable information regarding how much money you will need to start up your business, identify who are your target audience, the best place to purchase your equipments, furniture and other inventories, who are your competitors, and how best to market and promote you product or services, and such business logistics.
  • Education: It is important also that you increase you knowledge in the area of business that you want to get into. You must develop your expert knowledge of the industry you are in, as well as the product and or services that are the focus of your company. Engage in research, read books and attend workshops and seminars to stay current in your market. You would also want to know all about taxes as it applies to your business as well as business registration, and other operational logistics.
  • Access Professional Support: Professional support is always touted as being to expensive as a result many business owner delay this process. Remember that you do not have all the skills needed to successfully run your business. You most likely would have the entrepreneurial skills, but not necessarily have all the managerial skills needed to manage your business. A business requires both entrepreneurial and management skills to be sustainable. It is a holistic approach to successful entrepreneurship. Therefore if you need an accountant to manage your books, or a website designer to build your website or blog, outsource their help.
  • Professionalism: One of my advices that I gives to clients now starting out into the area of entrepreneurship is that they should always strive to be professional, and it does not only mean dressing great. Establishing a professional image from the beginning goes a long way in achieving business success. As a new business owner you should establish a business telephone number so that customers can easily contact you. A website is another feature that one should also consider having. In addition to online presence, an e-mail is equally important. These together with business cards, stationary and great customers’ service are a great start to establishing professionalism.

Dr. Cheryl Cottle is the Chief Consultant of Cottle's Professional Consulting. Cottle's Professional Consulting has a multidisciplinary portfolio including education, organizational development, professional development, and business development. Dr. Cottle is also a coach and mentor in areas of professional and business development. Interested in a service, please contact her at:

©Copyright 2010 by Dr. Cheryl Cottle and Cottle’s Professional Consulting

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