Are you thinking of starting your own business that serves the customers with implementing an innovative concept? Welcome to the world of entrepreneurship. Being an entrepreneur has its own benefits while there are thousands of issues to be faced and problems to handle. Therefore, before starting the journey to becoming a successful entrepreneur, you must think twice as entrepreneurship is much more than controlling and monitoring business operations. It will lead you to live a restless life where you will have to sacrifice everything to bring your business up and run it successfully.
If you are still in doubt and by reading this, many other questions are arising in your mind, you must check out the list of characteristics here that define successful entrepreneur clearly and help you understand and develop the qualities every leading entrepreneur possess that has led them to success.
Entrepreneur: The One Who Forges His Own Path
One who runs one’s business successfully doesn’t define an entrepreneur at all. An entrepreneur is a bigger identity than a businessman and yet possesses the same skills and qualities a businessman does. Therefore, to define entrepreneurship, we must use these keywords: risk, success, and innovation. An entrepreneur is always ready to take risks and implement innovative concepts in their business to achieve success by serving the customers right. Moreover, a successful entrepreneur understands the market clearly and takes risks by calculating the effects of it and is always ready to cop up with every business situation that comes across.
Are You Ready to Face Failure?
Failure hits hard. It sure does. The most crucial characteristic of an entrepreneur is: they face failures courageously. When you are starting off your business on your own, there will always be ups and downs throughout the time. Many successful entrepreneurs of today have faced the worst phase and failures that had literally dragged them to the verge of bankruptcy. But they all were able to handle the failure and came out shining brighter than ever.
Therefore, a single piece of advice for beginners here is: Always be ready to face failures. As it is said, “Failure turns to success if we learn from it”. Learn what failure teaches you and bring your business back to run successfully with correcting mistakes.
Do You Believe in Taking Risks?
A risk-taker entrepreneur is the one to watch out for. Leading a new business, it is sometimes necessary to take business risks that can make you successful and else can lend you in crisis. However, an entrepreneur is always ready to take risks and face the situation, whatever may come. Therefore, to achieve success in the business you have started, you must be ready to take calculated risks that can take your business a step near to success. A successful entrepreneur is always a risk taker and leads their business further with improving on services and functions provided.
Are You Ready to Learn for Lifetime?
Experience is a great teacher. Similarly, entrepreneurship teaches every new aspect of the business to the entrepreneur. You must be ready to learn from the experiences you get every time as each can teach you lessons for life which helps you run your business excellently. Therefore, learning from the experiences is a must for entrepreneurs and only the successful are the ones who actually understand and follow the learning principles of entrepreneurs. Each chance and try and teach you something more either about your business or your customers. Therefore, you must always be ready to learn to keep your business running.
Are You Self-motivated?
An entrepreneur is supposed to be a self-motivated person. There comes a time when every hope of yours has failed and every technique has said no to provide results. In these crucial moments, the thing to remember is: Never give up. Therefore, the entrepreneur is supposed to be self-motivated to ensure they are ready to face every situation coming in-between. There is no requirement of an external driving force for entrepreneurs, rather they are self-motivated by themselves to fit in any situation and also can ensure that they achieve success in the near future.
Are You Passionate About it?
Whatever business you are thinking to start for yourself, there must be a driving force leading your way to success. Whether you are planning on starting a restaurant chain or you are aiming to create an app like uber for handyman business that serves user requirements well, all that is required is you must be passionate about it. It helps you ease up many tasks and always clears your way by being a constant source of inspiration for you.
Are You Willing to be Your Everything?
Being an entrepreneur is not everybody’s cup of tea. It will require you to work in every niche regarding your business whether that is finance, HR, resource management or marketing. You will have to be everything to complete all your needs during the initial phase. Therefore, you must be ready to work for every requirement that is raised by your business and handle everything well to ensure it keeps on running on the right track.
Are You Able to Adapt to Changing Trends Fast?
The speed at which industry trends change has become supersonic. Each day brings out some new piece of technology that claims to add betterment to the life of its user. Among all the noises of technology, where do you stand? Are you the person who can quickly adapt to the forthcoming changes? If yes, entrepreneurship suits you. As technology brings continuous change in the way users are served, the businesses are required to be updated with the ongoing trends in order to sustain the customer base they have earned.
If you can relate to all the points mentioned here- you are on the right path. An entrepreneur however never waits for approval from others, they simply follow their passion. Instead of following someone else’s footsteps, an entrepreneur aims to carve their own path leading them to success. Taking every failure positively and by taking the right decisions, you can become a successful entrepreneur with an innovative idea implemented in your business.
How Can Reading Help You Evolve as An Entrepreneur?
An entrepreneur is someone who innovates things. He’s an initiator, and he creates the path for people to follow. He needs to be different from the rest of the crowd so he can start better and lead better.
But how can he be different?
It’s through learning from other successful entrepreneurs. Read those who have created the history like Bill Gates, Elon Musk, Mark Zuckerberg and many more in the list.
Being an entrepreneur, it’s crucial that you continuously sift to the change. If you don’t, other entrepreneurs who are ready to knock you out anytime. Learning keeps you going. Even if you start small, it’s through learning that you can explore the new heights.
If you run on autopilot and don’t prioritize learning, then you’ll be the same after ten years from now. And learning comes through reading. Reading opens your mind to new things. You can relate your life to someone who carries the same struggles as you do now and you can come out with the solutions.
You learn from their experiences, life lessons which nobody tells you about even your academic education keep you away from these books.
When you read, you open your mind to the inspiring which never hits you before. You travel the roads which you haven’t traveled before, and you dig gold from the ground.
The life of an entrepreneur is full of challenges. Mistakes teach us, but books allow you to learn without committing mistakes. It saves you from making errors because you’ve learned from other mistakes.
When you read better, you think better and then you write better. Bill Gates read one book per week and if you seek into the life of successful entrepreneurs, you’d find that they all read a lot.
Reading is the key. It’s a beacon of light for the people who are doomed. It brings you out from the dark and sparks creativity. For instance, if you are stuck in generating revenue for your startup you can take help from Napoleon Hill book, ‘Think and Grow Rich.’ Similar to this, there are a plethora of books that tell you how to pave your way through the challenges.
There’s No Magic Wand that Can Make You Successful Overnight
Success demands struggle, dedication, and hard work. There’s no magic trick that can make your startup successful in a day or two. That’s why I’m making your mind to read books. Even though it demands setting a timer to remind you of the reading time, do it. Read it, know it, understand it, and implement. Things will take time, but you’ll grow with the knowledge you acquire.
Books talk about real-life lessons and experiences, it helps in decision making, it motivates you to do more and strengthen your knowledge in the realm. If you’re truly passionate to make your business successful, then it’s high time you should start reading.
How to develop the habit of reading?
If you’re a non-reader, I can understand how challenging is to develop the habit of reading. So, the first thing is to start small. Start reading blogs on the topics that interest you. Make a target of reading one blog per day then shift to two blogs per day and continue the chain.
You’ll start gathering knowledge about your niche, and this will boost your confidence. When you successfully develop the habits of reading blogs, then switch to short ebooks. Pick out the books that help you to learn and grow, read it and make a note of the things you learn from it.
Track the number of days you take to read an ebook and start cutting down the time. Eventually, you’ll start reading more in a short time. If possible, download a free task management software from the Internet and place your reading tasks on it. Set the time for each book. It will remind you of the books need to be read and the time remaining.
Reading is essential for everyone but in the case of entrepreneurs, it holds double importance.
So, if you want to lead better then read better. You’ll see a positive change in your personality including the way you talk, walk and work.
I’m leaving you with the motivation and tips to start reading. Try putting these practices in your life and see the change you bring to your journey.
How AI is Transforming the Ecommerce Industry?
Artificial Intelligence (AI) is supporting every business to grow and explore new horizons. As per Tractica’s market forecast, AI is expected to generate revenue of 118.6 billion USD from AI software by 2025.
Gone were the days when e-commerce business was all about website designing of your offline store and selling across that. The increasing inclination and constant competition in the trending technologies are improving the e-commerce industry at a growing pace. AI transforms the traditional tactics of managing different tasks of business in smarter ways. From local vendors and manufacturers to giant retailers and digital startups, AI is helping every business.
Now, let me share some of the surprising transformations brought by AI in improving the shopping experience of customers as well as business owners.
- Virtual Assistance:
AI allows you to virtually assist each of your customers with the help of chatbots. While surfing on e-commerce sites, you will find the pop-up message from the smart bots that can solve the puzzle piece for you. The key benefit of a chatbot is, you don’t need to hire multiple resources to serve your diverse language speaking clients.
Unlike the old days when bots just showed up, AI integrated chatbots can communicate with your customers exactly like humans. Based on the customer requirements and queries with machine learning, chatbots are capable of guiding them through every step of shopping. From product selection to the checkout process, chatbots are there to help your customers at every stage.
In addition to chatbots, voice assistants can be helpful for the end-users. It makes the user communication easy and swift and keeps the user from typing in their queries. On one hand, voice search saves your time and adds a personal touch. On the other hand, voice assistance enables you to assist your customers with the bots that answer their queries by speaking it out, rather than displaying on the screen.
- Advance Visual Search:
Visual search is one of the amazing features that everyone craves for. The reason is pretty simple, mostly we know the product we want, but at times confused to explain it. If you don’t explain your query in a proper fashion, getting the exact result that you wanted is impossible.
Thanks to AI’s live product search option, that enables you to scan the product that you want to search. A single search of yours is capable of bringing hundreds of variations of the product you were looking for. So, no more worries about typing different attributes of the product. Simply scan the product and you will find the product all of the information displayed along with the in-stock quantity and the variants available.
E-commerce giants like Amazon have already started using the visual search option. If you want to get the feel of the feature, you can check it out there. Later, you can add such a feature to your store also.
- Personalized product recommendations:
The customer satisfaction is the ultimate goal of every business. So, you must care for each of your user requirements. If you talk about the physical shops, it turns hectic in the festive days or during rush hours. A shop owner and the staff can understand the shopping behavior and show the products as per their needs, but taking note of every customer’s choice, even when he/she is a first time visitor; is a bit tricky.
E-commerce makes it possible for you to take note of choices of every visitor and AI helps you in offering a personalized experience to them. A single customer search displays 100s of products and with the gradual learning, you will find a list of recommended products in the “Products you may like” section. The list of products is solely based on your search and that of the customers earlier liked such products. You will also find the products that you can buy together, it is like a profitable deal that can further entice customers to purchase the product.
- Manage your inventory based on forecasted sales:
The sales forecasting feature is really an asset for businesses. Based on previous purchases, user demographics, customer behavior, the time of the season and various other factors; AI helps you in predicting your future sales. Based on such analysis, you can manage your inventory and stock the products which have higher chances of bringing sales in the meantime.
The sales forecast can help you make your marketing strategies and cut off the marketing costs when it is not of much worth.
- Customer Relationship Management (CRM):
Unlike the old days of managing the database of your customers across the spreadsheets, now, CRM software took a tool on it. When CRM makes it easy for you to manage the data and sales of B2B and B2C customers separately, it eases the communication with potential clients.
Further, AI makes it easier for you to collect the data from social media, helps in evaluating potential leads, automate data entry, and enable data analysis to support your marketing strategies and sales.
Above mentioned benefits of Artificial Intelligence are the vital ones to count on. There are a plethora of opportunities that you can discover time to grow your e-commerce business with more personalization for your customers.
When you are ready to jump on the bandwagon of e-commerce business, Builderfly can help you make your store live. Moreover, with a web-store, you can build an AI-integrated native m-commerce app for your business in the single investment of web store. Flourish your business, understand your customer demographics accurately and offer personalized experiences to your customers with the power of AI.
How Taxi Dispatch Software Can Help Entrepreneurs Who Want to Venture into the Taxi Industry?
Till some years back, people used to wave on the roads for a taxi. They intimate about the destination to the driver, enter the cab and once they reach the destination, they pay the driver with cash. This is the traditional way of how a taxi business operates.
People faced a lot of inconvenience in the above model. Then came the model of taxi dispatch system, where the riders have to call the taxi dispatch center to book a taxi. This model was a huge hit and many entrepreneurs started to replicate this system across the globe.
In 2009, a new entrant named Uber introduced the on-demand taxi booking market, where the users can book a cab with a tap on their smartphone. They leveraged the widespread reach of smartphones and internet reach. Following Uber, many other firms like Ola, Lyft, Didi followed the on-demand taxi business model. This took a heavy toll on the existing taxi dispatch model.
Nevertheless, I think the time has come for the taxi dispatch model to regain its lost stature. You may think about how taxi dispatch companies can compete with the giants like Uber, Lyft etc. The answer lies in the controversies surrounding the on-demand cab handling companies.
From the self-employment debate to the rider safety, there are numbers of ongoing controversies in the on-demand taxi business. No need to mention the heavy criticism from the traditional taxi firms, who have been offering cab services at lower prices. A huge number of public resentment is also growing on against Uber. So it seems like now is the right opportunity to take back your market share.
There is also a misconception that the taxi dispatch model is running on technology that is no longer relevant. This is not true because of the development of taxi dispatch software solutions you can give your customers the ease of technology to leverage your taxi booking services.
Why taxi dispatch system is better?
There is seen a constant increase in the total volume of taxi trips with the advent of taxi booking mobile apps. This results in more passengers, higher ROI and increased revenue for the taxi owners.
Managing a taxi fleet is not easy where high competition, customer safety, and reliability are the challenging factors. An advanced fleet management system with real-time updates, reports, and tracking can facilitate the overall efficiency and effectiveness of the dispatch process.
Perfect vehicle management
While using a taxi dispatch solution can systematize the operations, it also gives room for easy handling of all vehicles. Now, with the GPS facility, it has become easy to ensure the safety of the vehicles.
Users can book a taxi manually without even using a smartphone
- Dispatch bookings received over a phone call.
- Un-assign a driver and assign booking to another driver.
- In the case of auto-dispatch failure, the booking can be managed by the central dispatcher.
Improved Quality of Service (QoS)
With the Taxi Dispatch Software, you can improve the quality of taxi service that you offer. Passengers will save their precious time by booking online and also they can pay online through e-wallet/digital payments.
Uber and Ola like the on-demand model is a huge hit especially in tier-1 and metropolitan cities. Leaving that aside, in tier-2,3 cities, people rely less on smartphones. Which implies that people still rely heavily on non-smartphones for any services. So, the potential for taxi dispatch companies is huge in these cities.
Entrepreneurs from these areas can get benefitted from this. Right now, the only way Uber can maintain high service levels at the low rates they charge riders is by subsidizing the drivers with huge and costly incentives. I don’t think it can sustain for too long.
Uber’s business model requires constant cash infusions from investors. Uber is simply not profitable and may never be profitable. It is up to the innovative and creative entrepreneurs to take the taxi dispatch business at the right time.
How to Spot and Stop Bullying Issues in the Workplace
It’s sad to say that the alarming case of bullying isn’t only visible and experienced in schools but also happens or occurs in the workplace. It’s believed that one-third of the working population are experiencing bullying in their work premises – with women being more prone than men.
This disturbing case should be given an immediate solution. Also, raising awareness regarding bullying in the workplace must put in a serious discussion.
As a band-aid solution, here are the effective and possible tips that your company or management may use to pinpoint and end bullying issues surrounding your office. Thus, search no further and stay on the next pages rather.
Tips to Effectively Spot Bullying in the Workplace
The case of bullying in the workplace may be evident and may occur in different forms, and unfortunately, it can happen behind the scenes or even behind the screens. Moreover, if the undesirable act of bullying isn’t resolved immediately, it may also happen out of the workplace as desired by the ones who commit it.
There’s no easy way to track down bullying inside the company especially if it’s a big one. However, the simple act of awareness and showing attention to such incidences will do help in spotting bullying.
The following are several tips to pinpoint bullying in the workplace:
- Pay attention and raise complete awareness about and against the act of bullying in all forms. Bullying can be represented or conveyed through the following:
- Execution of harmful and inhumane pranks
- Verbal mortification
- Tenacious and unreasonable criticism
- Obvious signs of sabotage of a workmate’s performance
- Clear indications of physical or openly verbal abuse
- Expulsion from social activities
- Blackmailing and/or intimidation
- Visible isolation from company activities or programs
The following listed above are merely some of the major forms of bullying. In the digital age, cyberbullying is also booming which is more complicated to handle and may cause a more serious impact on the one who’s being bullied.
- Be alert for the major target of bullying behavior
There are types of people who possess certain behaviors that make them an easy or major target of bullying. As part of the management or most importantly the HR department, be aware of these factors.
Workplace bullies can always keep their prying eyes on those employees who have compelling work performance, “apple of the eye” of the management or the company, those who are favored in the company, or those that aren’t expressly aggressive.
- Take note of bullying reports or records seriously
Unfortunately, there are certain instances where management doesn’t take bullying reports seriously. If you’re part of the management, most particularly the HR department and/or the higher ranks, it’s necessary to also give your time and efforts to resolving bullying issues.
The bullying incidences inside your company may greatly affect the bullied employee in terms of his productivity at work and willingness to work. If there are two or more bullied employees in the workplace, this can somehow affect the business’ overall growth.
- Give urgent response to reported bullying incidences
Once you received a report concerning bullying issues, always give a handful of support to resolve the problem right away. Don’t disregard and pretend not to hear the voices longing for your help.
If you belong to the management, you better act as an advocate to the involved parties. And if you think you can’t act in between for being a co-worker, you can also be the one to address it to the authorities and ask for their assistance.
Tips to Stop Bullying in the Workplace
It’s highly necessary to eradicate bullying in the workplace. And if you’re a concerned co-worker or manager, you’ll give a helping hand in ironing things out.
With that, you can follow the stated tips below to effectively contribute to putting bullying to end.
Remember, if you aren’t in the situation, then at least be the help to get someone through it.
Enhance the HR department’s programs and awareness
The HR department and/or professionals are keen on providing HR solutions to the following concerns of employees – and one could be the issues on bullying. The said department may take time to examine the problem and provide one-on-one interviews with the parties involved to efficiently deliver appropriate HR solutions to the current problems.
Conduct team-building or company activities
It’s also important in one company to build a bond between its employees. And one effective way to attain that is by conducting team building or company activities.
Through these activities, the workforces can share their strengths and weaknesses in a fun and adventurous way. Moreover, the closeness of the employee will be developed and will more likely result in a sound relationship in or out of the workplace.
HR department to take part in personality development training and programs
In a greater view of the picture, the HR department has a big role in retaining a pleasant atmosphere in the workplace. It’s because aside from hiring and assessing the applicants, they’re also responsible for handling and monitoring the behaviours of the employees.
If one lacks confidence or self-reliance, the HR department can take part in the issue by providing free personality development training and program. Having all these in one company, one employee won’t find a way to intimidate any of his co-workers.
The unfortunate cases or instances of bullying must’ve no room in companies. If the act of bullying continues, the person being bullied won’t be the only one to receive the negative impacts but as well as the company’s overall growth.
Thus, if bullying is visible in your company or any department, you better put your concern into it and give the efforts to send help. If you have stories and tips to share, never think twice to share.
Kath Ramirez embraced the dream of being a writer since she was in 4th grade. She took it seriously and she now writes for HR Dept HR Services UK, a company in the United Kingdom who provides human-resource assistance. Aside from writing, Kath also keeps herself busy spending time with her family, cherishing the role of a mom to 3 dogs and a puppy, reading random books, and diving into the world of photography. She’s not even a pro to whatever she’s engaged into right now, but one thing she knows, she’s happy and that’s more than enough.
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The Age of Online Reputation Management: 3 Tips for Entrepreneurs
Managing business marketing has always been standard, but what about in the age of social media and online presence? In today’s digital world, online reputation management is now a business unto itself.
The practice as a standard endeavor began in the early 2010s. In 2011, The New York Times ran a piece about a divorcee who found that, as he tried to date, a simple search of his ex-wife last night brought up a dearth of revealing photos. He hired Reputation.com to repair his online presence, one of the first companies of its kind. Today, online reputation management has become big business. When it comes to the Internet, information travels fast. Whether it’s a tweet, such as the case of a PR professional whose career was ruined in 140 characters, or a bad review, online reputation makes a difference to customers. Here are three ways for entrepreneurs to effectively manage your online reputation.
1. Put out Content You Want People to See
Online reputation is a constant battle between outside objectionable content, versus the good stuff you want to pop up in online searches. While it’s not advisable to try and stifle all content you don’t control, it’s also worthwhile to blot out content that’s targeted to harm you. Entrepreneur suggests the best way to do this is to create your own content, producing valuable information like articles, videos, and slideshows that your audience is likely to pay attention to. The baseline idea is to control content by pushing the bad stuff to the bottom with a landslide of your own. This not only works with analytics by rearranging search results but also contributes toward forming an identity that customers can buy into.
2. Crossover of Personal and Professional Reputations
It’s common for entrepreneurs to use their individual name in the name of their business. Inc. names such small enterprises as photographers, wedding planning, and realtors as some of the more prominent ventures where SMBs may use their own name as their business. If you find yourself in this camp, then it’s essential to monitor not only the content on your business’s social media accounts but also on your personal accounts. The fact of the matter is that the first go-to for people looking to gauge the trustworthiness of a business is Google. Inevitably, these search results will not only bring up your business activities, but also all other personal activities attached to your name. The lesson to take away from this is that, while people looking for information about your business may not be interested in your personal life, they will still see it with a simple online search.
3. Authenticity Goes a Long Way
While one approach to online reputation management is to fight back, some companies actively embrace the negative and are able to turn a flaw into an attribute. Business 2 Community gives examples of corporations like JetBlue and Zappos that went on record answering customer complaints on social media and Yelp with personal, validating responses. Online reputation management can potentially not only be a glowing assortment of positive results but also reveal how your company graciously handles conflict. If there’s one thing customer’s value, it’s authenticity.
Online reputation management is something that can’t be ignored, whether you’re a startup or a freelancer. Google yourself regularly, and keep a close watch on what’s being said about you online. Your business is only as good as its reputation.
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