5 Reasons why entrepreneurs fail in general:
Entrepreneurship is a hard nut to crack. While many wish to jump into the bandwagon, very few have the mettle to give what the entrepreneurship world demands. There are always way too many things that can go awry. Not enough funding, starting at the wrong time, market scenario and ever changing the business landscape. However, if you wish to begin this journey, here are the top 5 red flags why entrepreneurs fail.
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Lack of Market knowledge
When in doubt research. One of the most basic prerequisites for starting a business is understanding of the market. It is criminal to be clueless while starting a venture. Understanding the competitors, understanding the global landscapes, trends that work and fail and creating a business model around it is essential.
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Better skill set
There is a list of predefined skillset that every entrepreneur must develop. Before getting into the real game, it is advisable to first sharpen your skill set. Be it soft skills, financial management, resource management, time management and most importantly stress management, an aspiring entrepreneur needs to learn intently.
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Partnership
Who you partner with is a fundamental pillar in where your business could go. Carefully nit-pick and find a partner that acts as a catalyst for the growth of your business. Hiring a co-partner that has the same value system as yours and yet better management skills are important. They should have to be able to bring something to the table that you can’t. Thus balancing out well, giving something to the business that it already doesn’t have is important.
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Adaptability
If there is ever a business rule book, it will always highlight adaptability as one of the core principals. People who can’t adapt as the situation demands usually end up on the wrong side of the business. You may have started in one particular field, however, if you see a lack of growth and an opportunity to change the direction of the business, you must. Learning to let go of a strategy or a business model when it’s not working is essential.
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Not Understanding resources and requirements
A good team a good structure are the founding pillars of a good business strategy. Not understanding the resources your business needs, way before starting out is a major faux pas. Pay careful attention to the needs of your business, maneuver your way to achieve the maximum out of the current resources.
The above can act as clear markers or red flags to why entrepreneurs fail. If you find yourself lacking to any of these, make a note and work to improve your situation. Entrepreneurs have to be great learners.
Are you a part of the ‘gram generation?’ Instagram has revamped the definition of Social media marketing. Social media marketing being the most trending marketing currently. Over 1 billion people use Instagram every month. Why would an entrepreneur not leverage a freely available & accessible platform? Use Instagram to brand yourself, create an impactful statement and leverage it to the fullest
Here are 7 tips to get started on your company Instagram page
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Stay engaged, even with no followers
According to Sociic, The biggest myth is that you need to have ‘X” number of Instagram followers in order to be famous. This is untrue, while followers can certainly be a sure shot way of succeeding, creating impactful content and staying engaged is key here. Instagram will definitely begin to give you return on investment sooner than you’d think.
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Research well
A good research and an excellent data is a great starting point for revenue generation. Follow your competitor’s closely, get a pulse of the content they are putting out, check out their hashtags, the pages they follow, the people they tag, their overall activity model. This will help you jumpstart from the right spot.
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A well thought content strategy
What you post out there is going to be the face of your company. Make sure every content you post out there resonates with your brand. Have a pre-planned pitch for months to come. Pre-create content that will call in more customers, have a 3-6 month content plan. Whatever your business is about, have a bunch of posts ready on topics related to your business. Keep posting them out regularly.
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Be unique
Differentiate yourself in some way. Whatever stands true for your brand, make it work. Small steps make big differences. Something as weird as how your gallery looks in Instagram, the position or sequence of images also attracts more people. So figure out how you can stand out make it work
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Stay consistent
And just like everything else in life, the best way to make it big is staying consistent. Stay consistent in your efforts, in the content you post out there, in your networking, in your engagements. It is sure to go a long way in the Instagram world. You can also Buy Cheap Instagram followers if you dont have the time.
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Learn the hashtag game
If you are going to be on Instagram, you need to up your hashtag game. Use easily available tools to figure out what hashtags are trending, weave your content around these hashtags. Besides this don’t be too pushy on the hashtags if they have no relevance to your content. The ideal way is to develop content based on trending hashtags.