An Outline of Entrepreneurial Steps for Business Success

This report provides a comprehensive outline of the steps an entrepreneur must take to achieve business success. It begins by defining a successful entrepreneur and business, then details crucial steps such as financial planning, passion, trust, hiring skilled employees, and customer understanding. The report emphasizes the importance of risk management, networking, and delivering excellent customer service. It also addresses challenges like managing cash flow, finding the right employees, and competition, offering solutions such as proper budgeting, strategic time management, and marketing techniques. The report concludes with a summary of the discussed points, highlighting the benefits of the research and offering recommendations for entrepreneurs to use the information to grow their businesses. Key references from Ries (2011) and Aulet (2013) support the outlined strategies.

Running head: AN OUTLINE FOR ENTRPRENEURIAL STEPS A BUSINESS PERSON
TAKES TO BE SUCCESSFUL 1
An Outline for Entrepreneurial Steps a Business Person Takes To Be Successful
Student’s name
Institution’s name
Date

AN OUTLINE FOR ENTREPRENEURIAL STEPS A BUSINESS PERSON TAKES TO BE
SUCCESSFUL 2
An Outline for Entrepreneurial Steps a Business Person Takes To Be Successful
Thesis statement: Businesses that are well planned, organized and follow the right
criteria will always achieve its set goals (Ries, 2011).
Introduction
 What a successful entrepreneur is.
 What a successful business is.
Steps an entrepreneur takes to be successful
 Plan finances before starting a business to avoid using your own savings.
 Be passionate with the business by loving it to ensure you are not discouraged
easily.
 Trust what you do and avoid listening to discouragers.
 Hire skilled employees who know what they are doing to avoid future
inconveniences.
 Don’t rush your plans hence take your time to come into a good conclusion.
 Know your customers so as to know what to sell and how to serve them.
 Be a risk taker who can try out new successful things in the business.
 Apply risk management techniques.
 Focus on networking to ensure your business grows to higher limits.
 Ensure you deliver not sell because customers require good service.
 Avoid multitasking and focus on the main thing first to ensure there are no
confusions.
 Ask for advice from mentors to ensure you are doing the right thing.

AN OUTLINE FOR ENTREPRENEURIAL STEPS A BUSINESS PERSON TAKES TO BE
SUCCESSFUL 3
 Accept any failures and look for solutions as soon as possible.
 Take time for things that inspire you as an entrepreneur.
 Have perseverance in everything that affects your business.
 Prevent fear from stopping you from doing great things.
 Ensure you not only talk but also act.
Challenges that an entrepreneur should be aware of
 Managing cash flow.
 Getting the right employees.
 Managing time.
 Task delegation.
 Deciding on what to sell.
 Coming up with the right ways to market your business.
 Getting the right amount of capital required for your business.
 Ensuring that your business grows.
 Having self-doubt.
 Competition.
Overcoming challenges in a business
 Work smarter.
 Ensure you have proper budgeting techniques.
 Be exclusive when hiring employees.
 Strategize well on how to spend your time and outsource your weakness to save
time.

AN OUTLINE FOR ENTREPRENEURIAL STEPS A BUSINESS PERSON TAKES TO BE
SUCCESSFUL 4
 Delegate tasks according to the employees’ skills.
 Develop email marketing and loyalty programs to ensure your customers never
leave.
 Look for donors, apply loans and ask for support from family.
 Surround yourself with positive thinkers and avoid negative ones who can corrupt
your mind.
 Incase focus is lost go back to your roots to know the aim of your business.
 Be unique from your own competitors because it gives customers reasons to
stick with you.
 Always keep trying hence not give up.
 Perceive challenges as your best business partners.
 Brainstorm when solving problems to ensure you reach out the right solution.
 Always critique yourself and your team in case of any mistakes done.
 Come up with an emotional roller-coaster to execute better the next time round.
 Share stories of failure because it opens doors for success (Aulet, 2013).
Conclusion
 A summary of the body that gives out the specific points discussed.
 Benefits of the research and how it is useful for any business to grow.
 Recommendation to illustrate how reliable the information given is to all business
entrepreneurs.

AN OUTLINE FOR ENTREPRENEURIAL STEPS A BUSINESS PERSON TAKES TO BE
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References
Ries, E. (2011). The lean startup: How today's entrepreneurs use continuous innovation
to create radically successful businesses. Crown Books.
Aulet, B. (2013). Disciplined entrepreneurship: 24 steps to a successful startup. John
Wiley & Sons.