Have you had a participant who has expressed a great desire of employing themselves? Most importantly, did you provide the best resources your city and state economic development offices and business development centers can offer and help educate them on available services and programs? Realizing both the economic and social impact of entrepreneurship, many states and local communities have implemented aggressive strategies aimed at cultivating and nurturing entrepreneurs – and you can help!
Entrepreneurial businesses come in all shapes and sizes. Below are some points to mention in discussions with your participant:
Market Analysis – so many entrepreneurs start off with a great idea, and often don’t want to tell anybody about it, for fear that someone will steal their idea. Expressing the need for market analysis can help them think through properly and ask other entrepreneurs candid questions.
Create a Business Plan – Business plans are inherently strategic. Writing a plan greatly increases the chances that a person will actually go into business.
The Discipline of Money – the rejection and failure rate is high with loans from traditional banks. It’s better to utilize community resources, grants, or even ask other friends or family to help start.
The Secrets of Power Negotiating – participants must learn how to negotiate by first of all studying the process of negotiating, and then second, practicing negotiating at every opportunity.
Resilient – the ability to bounce back from the inevitable setbacks and disappointments that all entrepreneurs experience virtually every single day in starting and building their own businesses.
Sooner or later your participant must become knowledgeable and skilled in each of these five areas if they are going to build an enterprise and become a successful entrepreneur. The rewards can be great, but so are the risks!
Launchpad offers Entrepreneurial Workshops and others that your agency may be interested in ~ contact us!