7 good tips for becoming a succesful entreprenuer

Do you dream of becoming an entrepreneur?

Then you are well on your way. One of the most important features of becoming a successful entrepreneur is dreaming big.

Then, of course, there are plenty of other things to take into consideration.
That is why we have gathered the most important aspects of entrepreneurship on this page, that will put you well on the way.

What is an entrepreneur?

You may call yourself an entrepreneur, once you have started your own business, even if you work from your home and don't have an office or facility.

So it is a person who starts something  — like an entreprise.

Entrepreneurs' psychology can be very complex, but there's a classic mark among all of the entrepreneurs: the will and courage to take a risk, in the pursuit of profit and success.

Another thing commonly associated with entrepreneurship, is the good idea. However, many people get great ideas.  

What sets the entrepreneur apart is the ability and guts to put the good idea into action.

Entrepreneurs are the advent of successful companies — and successful companies mean economic growth which benefits the employers, as well as society as a whole.

That is why entrepeneurs are recognised socially and politically. You can see this from the eagers efforts of politicians to support and help entrepreneurship.

Before you get started on becoming an entreprenur, read  our guide on free support for entrepreneurs and 5 great tips, before you get started.

7 concrete tips: How do you become an entrepreneur?

So you've had a good idea, and cannot wait to put it into action.
But what are the next steps towards becoming a successful entrepreneur?

Of course, there is not one magical and definite answer to that.

Because it all depends on your own individual skills, what you wish to work with, and many other factors.

However, we have gathered 7 concrete tips to set any entrepreneur well on the way.

1. Choose your area of work carefully

You can be an entrepreneur within any line of work imaginable. The many opportunities, however, can turn into a double-edged sword.

See, you cannot run businesses within all areas - you need to start with a clearly defined one.

Once you have achieved success within that area, you may consider moving into other areas.

Besides, entrepreneurship will occupy much of your time and energy. That is why you must choose that area that you feel for - otherwise  you risk burning yourself out.

2. Education, re-education, and courses

There are no formal requisitions as to education or the like, to become an entrepreneur.

As we mentioned, all it takes is a great idea, and a fair amount of ambition and gung-ho.

However, having some form of education will nok work against you.

If, for instance, you dream of opening a tech business, a certain professional knowledge about programming and computer science will not hurt.

Insight into marketing, accounting and law can also be of particular use, once your business is up and running.

Fortunately there is a wide variety of education and courses in Denmark, aimed at entrepreneurs.

You will also find professional sparring and counselling at your municipality.

In 2019, Denmark established six cross-municipality so-called "growth houses", situated in Aalborg, Aarhus, Odense, Vojens, Sorø, and Copenhagen.

Asides from these houses, branches were established in Nykøbing Mors, Herning, Horsens, Hillerød, Vordingborg, and Rønne.

Here you can get help to obtain the neccesary permits and licenses that a start-up business needs.

3. Create a business plan

One of the most important keys to success is formulating a concrete plan with concrete goals.  

That way, you will be able to juggle all the different tasks that inevitably will arise, once your entrepreneurship sets off.

A solid business plan must contain tangible goals. It will not do, having fanciful notions like "making a lot of money".

You need to set a specific amount that you want to earn. Once you have reached that goal, you can (and should) aim for new and higher goals.

Besides the specific goals, your business plan should also include a strategy on how to reach them.

It is not much use having a goal, without an applicable plan for achieving it.

Try to make your strategy as concrete as possible  — that will help you keep your focus on the most important processes.  

A business plan will also make it a lot easier for you to get external investors and partners interested in the idea.

If someone approached with a good idea, but no concrete plan, goal or strategy, you would most likely also find it difficult to throw a lot of money and ressources at them.

So make sure your have your business plan at hand, before you set up meetings with potential investors and partners. You make, for example, make use of an online platform, to keep track of your business plan and the relevant documents    .

4. Decide on a target group

Your business idea will rarely appeal to all people in the world.

For that reason, you will be wise to define your target group. That will allow you to focus on optimising your idea for that particular group of people.

You may want to consider the following points, when you are to decide on a target group:

• Age
• Gender
• Income
• Culture
• Ethnicity
• Education
• Line of work

This is by no means an exhaustive list. But it ought to give you an idea of the number of factors that might be at play, when deciding on a target group.

5. Spend time on your network

Network, network, network.

You have probably heard this many times before — but we'll bring it up again for good measure.

Network is an essential part of any job, but particularly for new entrepreneurs..

Through a good network, you can find suitable employees for your new company.

A solidt network will also enhance your chances of attracting the neccesary investors.

But how do you go about establishing a great network?

You are most likely well on your way. Social media are valuable platforms for networks. nemlig gyldne platforme til netværk. And are you not already on the social media?

Of course you have laid out a clear business plan, with concrete goals and strategies.

Ater that, it is pretty easy to put up a post on Facebook, LinkedIn, or Instagram, asking for help for your idea.

If you are more to the introvert side of the social spectre, you may easily contact the relevant people directly. There a loads of innovative, yet introvert entrepreneurs, so do not let that keep you off.

Examples of introvert entrpreneurs include Bill Gates, Mark Zuckerberg, and Elon Musk — their present personalities only arose after their success.

6. Become good at selling your idea

Modern consumers have almost endless possibilities, when it comes to buying products and services.

So one of your most important tasks as an entrepreneur, is to convince customers that your particular product is different.

In business lingo, USP is often mentioned — Unique Selling Point.

These are the qualities of your business that set is apart from the many competitors in the market.

Once you have a full grasp of your USP, you will find it much easier to convert into a convincing sales talk. Both to customers, but especially to investors.

Research the market within the field you have decided upon:

• What are the current products and solutions?
• How does your brand deliver “that little extra”?
• What gaps in the market can you and your business fill?

By asking yourself these kinds of questions, you are well on your way to formulating a successful sales speech.

Read here: how to use your USP in your marketing.

7. Focus continously on marketing

Marketing is important at all times in your entrepreneur process.

Even though you have the best product on the market, no one is going to buy it, if they do not know it.

This is why marketing is one of the most important prerequisites for a successful business.

Remember to have focus on your specific target group, when doing marketing.

If your product primarily appeals to younger people, you may also consider working with an influencer on marketing.

You can learn more about what influencers can do for you and your budding busines at the bottom of this blog entry — in the paragraph called  “Help for entrpreneurship through influencers”.

If you need to know more about the many different aspects of marketing, we have made a comprehensive guide to the subject. Please follow the link.

10 Suggestions for ideas for entrepreneurs

Perhaps you have a dream of becoming an entrepreneur, only as yet no concrete ideas to put into action?

A good concept, of course, is everthing for any successful entrepreneur. But that does not mean that you have to give up your dream, just because you haven't come up with the perfect idea yet.

We have gathered 10 suggestions for lines of businesses, where your next ideas could unfold:

1. Toys and other forms of production
2. Agency trading
3. Dairies
4. Research and development
5. Manufacture of vehicles and spare parts motorkøretøjer
6. Information services
7. Business consultancy
8. Other operational service
9. Wholesale of fabrics and household appliances
10. Release of computer games and other software
    
    

According to Statistics Denmark, these are the top 10 businesses in Denmark when it comes to growth.

In the 2009-2016 period, these businesses have grown with as much as up to 219% in value.

Another important piece of advice to take note of in your quest for the good idea, is to talk to people.

By talking to people in your network, you can get quick and constructive feedback.

They may notice issues and shortcomings that you need to address and incorporate into your business strategy.

Thay may also highligt what is particularly attractive about your idea. That will allow you to focus on, and enhance, that part.

It is altogether a smart choice to talk to others about your idea — and not likely to do you any harm.

You can also get professional and neutral guidance on your entrepreneur ideas at Opfinderrådgivningen at The Institue of Technology.

If you are looking for more concrete inspiration, we have written a comprehensive guide to good ideas for entrepreneurs.

Help for entrepreneurship through influencers

You can also get wind beneath your entrpreneurial wings, by working with an established influencer.

The particularly attractive part of working with an influencer is their unique access to target groups.

People usually have a lot of trust in the influencers they follow.

If you can find a relevant influencer, who in some way is interested in your line of work, you may begin a very fruitful cooperation.

An influencer is, after all, in many ways also a self-employed entrepreneur — so you are likely to have the same motivation for achieving success. motivation for at opnå succes. And as you know, birds of a feather flock together.

Interested in learning more about your opportunities to strenghten your business' brand and marketing through influencers?

Please feel free to contact us and learn more.

‍