5 Tips for Successful Entepreneurship by Sayo Babatunde

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Sayo Babatunde, Business Consultant, Ken Blu

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1. Cash isn’t king.

Controversially assumed and generally accepted, money is the number one focus for many in business. The making of; or saving of money is the main focus of many business operations. Please do not misunderstand this point, I am not negating the importance of money in business but trying to highlight that focusing more on the impact of your business is the best way to increase the money in your business. Chase impact you will make money, chase money (primarily) and eventually you will lose impact then subsequently lose money.

2. Failure is a part of the process.

It is a well-researched fact that many successful entrepreneurs, sportsmen and politicians failed a number of times before gaining success. Don’t look at failure (or rejection) as the end of a thing but rather junction in which you can make a change in direction to progress further. Expect failure in various areas of business, embrace it then learn from it.

3. Relationships are key.

The media often paints this image of the self-made business man who went in alone and build an empire as one individual but the reality is the majority of the most successful businesses we built by groups of people and thrived in a network of businesses. Whether it is other people in business or other people in your business surround yourself with a good network of people who can open doors and carry some of the weigh with you.

4. Keep on learning.

Many entrepreneurs lose out on valuable opportunities because they do not open themselves up to listen to others. Humility is a noble virtue in life but also a very lucrative virtue in business. The ability to listen and learn from customers, listen to employees, start conversations with other businesses to gain insight can open doors that can propel your business to its next level.

5. Under promise, over deliver.

There is nothing more moving for a customer than getting more than their money is worth. A classic technique is to seek to add value to what you are giving with no major added costs. Assess what you provide and look for ways to present additional value without additional cost to you, go the extra mile for all customers, this may strain you at the beginning but will allow you name to travel further than money can take it.

Apply for the ENCampaigns Enterprise Course

EnCampaigns are one of the largest providers of Start-Up Loan funding in the United Kingdom. If you have been trading for less than 12 months or need some finance to start your business then please get in touch or start your application today.

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