5 Steps To Finding Your Path To Profit For First Time Entrepreneurs

Let me guess, you’re fed up. You’re finally thinking of starting something for yourself, but you’re not quite sure yet. You are worried about capital, terrified of failure, and a stranger to hard work. How could this possibly turn positive for me? What if I told you the only outcome will be positive and the only capital needed is sweat, would you still proceed? You’ll be stupid not to.

Clearly Define Your Skills and Talent

Find something that comes easy to you, something you’ve previously amassed an abundance of skill in. More likely than not you’re probably passionate about it as well, so it’s about time that skill or talent starts lining your pockets thoroughly as opposed to partially as an employee.

Start On The Internet

The internet has made it phenomenally easy to start and grow a businesses, earlier this year AOL bought About.me before the company even launched, Pandora went public in the span of five years, and Netflix put Blockbuster out of business. Your job as an entrepreneur is to spot trends and follow them. Internet businesses are the current trend, it’s the best place to start and the fastest place to grow, make no mistake about it.

Invest Only Your Money

Another perk of starting on the internet is that it’s a significantly cheaper way to go, virtually no overhead and very little expenses. You should by all means fund your first venture yourself. It’s a classic win win situation, If it’s successful all profits go to you and if it’s a bust; you’re liable to no one.

Start Cheap And/Or Free

The Internet is already saturated as it is , there are already millions of people with the same skills and talent you possess with their ducks in a row avidly cashing in. The only possible way to get an edge and grab a slice of the pie is dramatically dropping your prices or even doing some freebies during the early stages. Remember business thrive on recurring clients or loyal customers, so focus on getting them, keeping them happy, then you can slowly work yourself up to a comfortable but fair price point.

Try Try Try Again

Too many people forget that the cornerstone to entrepreneurship is deep perseverance, your ability to get up, try again, and weather the storm is what defines you as an entrepreneur and it could be the difference between success and failure. Chances are the steps above won’t work the first time around, but it’s up to you to be savagely relentless on your quest to find your path to profit as a first time entrepreneur.