How to be a smart entrepreneur

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.

 

Lodpress 

 

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Lives in Lagos, Nigeria