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Starting Your Entrepreneurial Career

EconWatch (August 23, 2020)

Taking the first step into your entrepreneurial career can be intimidating. With no set rules or guidelines to follow, you may find yourself lost at first. To aid you on your journey to entrepreneurial success, here are three important questions to ask yourself when beginning your venture.

What does my project do?

Although the question is simple, your answer should be the opposite. Take Google as an example. What does Google do? The basic answer is that it is a search engine. However, a more in-depth look will unveil that Google is a search engine that sorts search results by relevance, allows for personalization, provides structured data, and much more. Similar to Google, your answer should have various branches that ultimately comprise the general idea of your project.

How is my project unique?

Uniqueness is one of the main characteristics that constitutes a successful project. Place yourself in a consumer’s shoes and ask, “what does this project provide me with that others don’t?” If you cannot answer this question, start brainstorming ways to make your project stand out.

What’s next?

A successful project is never stagnant. While it is important to focus on the present, it is equally important to prepare for the future. The majority of people will become fatigued after repeatedly experiencing the same process. Therefore, to build consumer loyalty, it is imperative to provide regular updates and additions to your project.

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