Being a small-business owner poses a ton of challenges. Sometimes it’s trying to get a clear perspective on how to approach a particular issue your business is facing, while other times it’s establishing which niche or goals you want to pursue.
So what should entrepreneurs, especially newer ones, know as they help their business grow? To find out, we consulted 13 members of the Young Entrepreneur Council and asked what game-changing tips they could share to help business owners. Which of these would work for you?
1. Get clear on your life goals.As small-business owners, it’s not uncommon to prioritize your business over all else. But, you’ve got to put yourself first if you want your business to succeed long term. Otherwise, you may burn out or wake up one day and realize you’ve built a company that is incompatible with the life you want. Get super clear on your one, five and 10-year life goals, then fit your business to those goals.
--Brittany Hodak, keynote speaker
Listen to the Hustle From Home podcast for more on organizing your priorities: Episode 103: Productivity in Your Season of Hustle
2. Niche down first.Before you try to target multiple products and various audiences, become an expert in one single offering. At the start of building a business, niche down to create the best product offering with the greatest value possible. From here, you can expand over time. This builds trust behind your brand and enables you more growth in the future. Read more..
Source: Success Magazine
The mission of EDAC is to connect budding & existing entrepreneurs to resources for venture management & growth.