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 understan...Read More

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
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 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
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 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.