In every business opportunity, it can be said that the opportunity to start business is actually all around us. It’s just that there are some people who are able to see the situation as an opportunity, and there are also those who don’t see it as an opportunity to start a business.
The steps in entrepreneurship that I will discuss here will discuss how we are able to see an opportunity for entrepreneurship. The following are some steps that can be taken if someone starts an entrepreneur.
Steps to Start Entrepreneurship
- The First Step to Become an Entrepreneur
Please choose an area of business that interests you and has passion and knowledge in it. This first tip is beneficial for students who tend to have strong desires and are easily bored. It’s not easy, especially if we have been in a safe zone for a long time and are used to it. Often busy work kills our instincts to be creative and hone our interests and preferences that can bring in money. If you have determined your interest, then immediately hone your knowledge and increase your reading and skills regarding the field of business that you want to pursue.
Sometimes the things we feel we are good at, turn out to be drastically different from what we thought we were on the field. A person who works on a certain specialty on a daily basis may not necessarily be successful in doing business in that field, so it is very important to learn from people who have successfully started a business in that field.
- The Second Stage of Entrepreneurship is Friendship
The purpose of this second step is to expand and multiply business networks and friendships, because often offers of business opportunities and business development support come from colleagues in the network. But you still have to be careful, because there is never such a thing as a free lunch, whoever it is, you have to be careful and prepare for unexpected things to come.
This is also in line with the principle of a businessman “money knows no master”. It could be that today you are a big boss, but the day after tomorrow you will become unemployed because of being kicked out by your own employees who work closely with your business partners or even your investors.
- The Third Step Entrepreneurial Uniqueness in Goods/Services
This basic stage suggests choosing uniqueness and superior value in your product/service. Most people are not aware, when starting a business, they are trapped in the price reduction phenomenon. Though, there are times, price is not everything. You need to be able to find unique market niches and niches.
You must determine your position in the map of business competition. If you overestimate your service/product, while what you offer does not have very specific advantages and has added value, then people will turn to similar businesses with far better prices and quality.
Suppose you start a web design service business (web designer). Determine, do you want to compete bloody in the cheap web business, or you will be specific to the design, or you will be specific to the security factor (security) or to the level of difficulty and complexity of managing the database.
- The Fourth Step in Entrepreneurship is Credibility
The purpose of this fourth step is to maintain credibility and brand image. Often when we start a business, we forget about the good name, credibility and views of people on our products/services. In fact, this is the most important thing in business.
Postponing payments to suppliers or borrowers of capital, is a very fatal action and results in the appearance of your name on the blacklist of the business network that you are engaged in. For example, one business venture, often acts arrogantly and ignores the complaints of its customers, even though it’s not just once or twice that people have complained, as a result, losing customers is a real thing that will happen and even losing potential markets and market shares they control.
- The Fifth Basic Stage is Frugality
Frugality here means that an entrepreneur’s idea must be structured, so that money can be set aside in planned operations for working capital and investment in production/services.
Many people, if they have made a big profit and are at the top, forget about the preparation factor for unexpected things and planning for business development. Even though business is the same as life, you must always survive and fight. When we are flooded with orders and receive much money, many of our businessmen and craftsmen prioritize buying luxury cars or sports cars. This is not wrong, but it would be better if the profits were set aside for retained earnings and additional working capital.
In this way, businesses can develop more, and getting trust and capital loans from banks becomes easier. Because you are trusted by the bank to be able to manage the company professionally. Preferably for daily needs, the owner of the company reserves an allocation of sufficient funds for living expenses and personal needs in the form of a fixed salary for the commissioner/owner. Or set aside just a portion of the annual profit, but don’t disturb the company’s cash flow for personal gain that has nothing to do with business productivity.
In addition to the points above, tips on starting an entrepreneur can also be adopted according to a business expert who is also a motivator, Tung Desem Waringin. The following are technical steps that can be taken to start a business:
Entrepreneurial Steps According to Tung Desem Waringin
- Build a business idea by writing our Entrepreneurial Dreams and hobbies. Write down 10 of our dreams and hobbies, then select the three that make us most ambitious and enjoy executing them. Selection again becomes one dream that makes us have to make it happen. So that one dream is actually used as a Vision/Goal/Target that must be achieved.
- Give a very strong reason to realize the entrepreneurial dream. Imagine what pleasure we will get if the dream comes true and what misery we will receive if the dream does not come true.
- Begin to realize the entrepreneurial dream by acting and looking for the right theme and writing down the mission / achievement steps and turning it into a clear business concept
- Do research both on the internet and in everyday reality. The Vision and Mission that we write must be clearly defined, specific and marketable according to the field.
- Write down and design a strategy that will be executed
- Use leverage factors, examples are:
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- OPM (Other People’s Money)
- OPE (Other People’s Experience)
- OPI (Other People Idea)
- OPT (Other People’s Time)
- OPW (Other People’s Work)
- Find a mentor (choose someone who is already successful in that field), for comparison and to reduce the risk of failure in taking steps to achieve that goal.
- Create a compact TEAM to help achieve this goal
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- T = Together
- E = Everybody
- A = Achievements
- M = Miracle
- Optimize our network, relationships and networks to achieve our goal/vision.
- Create unlimited new networks by making as many relationships and hospitality as possible.
- Use tools to accelerate achievement, for example websites, social networks, advertisements, promotions, etc
- Create an ideal system for the business. S=Save, Y=Your, S=Self, T=Timing, E=Energy, M=Money. According research from Tung Desem Waringin, data proves that, 94% of business failures are due to an unorganized system or entrepreneurial plan, not the people. Therefore, use more 5W = Why Why Why Why Why and 5H = How How How How How.
Finish the discussion on the basic steps or stages in starting an entrepreneur. Hopefully it can be useful and as a consideration for those of you who want to start entrepreneurship.
