Nelson Mandela once said "I either win or I learn".So as an entrepreneur you should be ready to fail fast and often.
Being a smart entrepreneur is very cogent in improving your business.Here are some ways to be a smart and vibrant entrepreneur.
1. Professionalizing and legalizing your business:You must endeavour to have a business license,tax identification and business insurance to take care of risks.
2. Formalizing your business: Building a strong trust with your customers should be your priority as an entrepreneur.
You dont need to worry about funding anymore because i hv some tips for you.
- You can get loans from friends.
-You can share your business plans with investors or engage in a business pitch competition.
-Registering your business gives you access of Government sponsored loan for small businesses.
Customer's feedback is very essential as an entrepreneur and this can be done through online survey,in-person question and answer,data review of revenue and sales history.
Lastly,make sure you don't reinvest all your profits so that you can save for unforseen circumstances.