It is always a happy day when someone at the company is doing so well that we can give them more responsibility. We try to promote from within as much as we can, but you also have to realize that’s not always possible. You might require a skillset that doesn’t exist in your company currently.
Rory O’Driscoll chats about “Scaling Your Company: The Big Picture.”
This month’s #MillennialTrep Twitter chat with the U.S. Small Business Administration on “Finding Your Community” was full of advice about how to break into the entrepreneurship ecosystem, whether that be in your state, city or right outside your door.
When you’re trying to achieve a social good and build a solid revenue base, things can become a bit overwhelming, but despite the dual focus, entrepreneurs still need to concentrate on the metrics that account for their viable business and as well as their bottom line.
Starting with a random array of marketing tactics is never a good idea, no matter how free or exciting the tools are. Diving into marketing without understanding your niche in the market or where your competition stands in comparison could end up costing you greatly down the line.
A mentor can increase the success of your business or point out a flaw or upcoming hurdle for your venture. But finding the right mentor is not always an easy task. You need someone who cares about you and your business, but also brings an outlook and perspective that tells you the truth–even if you might not want to hear it.
Starting a business around a great idea can be an exciting option for a young person. But how do you go about getting the finance to accomplish such an undertaking? Millennials are coming out of college with more and more student loan debt, and little to no credibility to show financial lenders. Where can they turn?
There is one consistent asset all successful entrepreneurs have in common–a pivotal mentor. For every other resource that helps an entrepreneur turn their dream into a venture, a mentor who helps to make a connection, point out an unseen pivot or lend an intellectual ear is crucial and mandatory along the way.
When you’re building a company from nothing, you need to be aware of the skills and expertise you lack. This may seem like a heavy focus on the negative, but if you’re not aware of your weaknesses, you won’t know what type of people you need to bring onto your team in order to grow your venture.
Whether it’s student debt or lack of credibility, the Millennial generation faces some hurdles in order to thrive in the startup world. We took to Twitter, with the help of our special guest the U.S. Small Business Administration (@SBAgov), to discuss with others the opportunities and challenges for Millennial entrepreneurs.