Entrepreneurship and the Essential Steps to Success
Prevailing circumstances under which people decide to start their own businesses vary greatly, and each one’s reasons for doing so is likely to be unique. One may have been retrenched, while another may prefer to be their own boss – free to make their own business decisions and establish working hours that best suits them. Yet another may only want an extra income to pay for their children’s education or an annual family holiday.
There is one factor that is common to all entrepreneurial folks who choose to start their own businesses – they want to earn an income. Once the decision is made, a few important questions arise.
- What am I going to do to earn money?
- What am I equipped to do?
- In which sector of the market is there virtually always a want or need that I may satisfy?
- Which product or service will I offer?
- What endeavour can I tackle that doesn’t require an enormous capital investment?
- Where and how do I start?
The answers to these questions are important because they are likely to determine the success of your new business. First and foremost, one must understand what it means to be an entrepreneur.
There are various definitions that describe the qualities and characteristics of entrepreneurship. We like: “the capacity and willingness to develop, organise, and manage a business venture along with any of its risks in order to make a profit”.
Research, Development and Production
As a Papillon agent, you have few personal risks or major challenges to face. We’ve taken care of the most risky and costly of these, since we have already developed and manufactured top-quality products that are always in demand. Your task is to organise, manage, and execute the necessary steps required by your own entrepreneurial venture, as well as take responsibility for all aspects of your business.
How to Organise and Manage Your Entrepreneurship
- Open a business bank account, in order to keep business income/expenditure separate from personal funds.
- Register as a distributor with Papillon.
- Purchase your Business-in-a-Box perfume testing kit (currently for only R700).
- Familiarise yourself with pertinent product information, supplied by us at Papillon.
- Start by introducing your products and service to friends, family, and acquaintances to gain confidence.
- Always ask for referrals – word-of-mouth recommendations are invaluable.
- Set realistic goals and targets for yourself, and plan which steps to take to achieve them.
- Constantly monitor your progress; address areas that require improvement.
- Be disciplined about attending to your admin, orders, and banking promptly, as these are essential organisational and management skills.
Papillon is only an email, phone call, or WhatsApp away, ready to assist and support you all the way, right from the first steps of starting your own business to entrepreneurial success, satisfaction and profitability – the fundamental reasons why people strike out on their own.