startup entrepreneurship: 6 things every entrepreneur must understand about their first business

Start-up Entrepreneurship6 Things the Entrepreneur needs to understand about

starting their first business

www.abelmukwevho.com

Abel Mukwevho, Professional Speaker & Author

Startup Entrepreneurship:

The order of Business


Operation

Sales

Marketing

Finances

Public Relations

Administration

1

2

3

4

5

6

1

2

Startup Entrepreneurship:


Administrate to Operate: When a first time entrepreneur starts a business, it is exciting to get

that letter that says your company has been registered. But that’s just the beginning, the real

work is in the operations of your business. Before registration, we assume you have already

figured out what you want to do to make money.

Operate in a Market: Now that you’ve discovered what you want to do. The next step is to

discover who you want to do it for. That’s the market. In marketing it is called, market

segmentation. It is understanding that your value is not for everyone, only a particular group

would find your goods or services to be of value.

3 Operate to Sell: This is the basics of business. No one is ever in business for any other reason

but to make money. To make money, you have to sell your value.


6

4

5

Sell to a market: This a common mistake for start-up entrepreneurs; they have a product or

service, which they want to sell to everyone. It doesn’t work that way. Once you have discovered

who or what your potential market is, then devise a sales strategy for that group of people.

Start-up Entrepreneurship:


Sell to create wealth: Business Management teaches us that a business is there so that it can

create wealth for its shareholders. As an entrepreneur, you are the only shareholder of your

business, therefore as you sell your value, keep in mind that you do so, to create wealth for

yourself.

Brand for public perception: Branding has little to do with logo’s or the colour of your firm. It

has more to do with a set of perceptions people have about your business. What do you want

people to think about you and what you do? From the public, that’s where you are able to attract

people into your market.


http://www.abelmukwevho.com/

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