Calling all aspiring entrepreneurs: we asked three successful business owners for their best tips for entrepreneurial success and here’s what they said…
In today’s hustle-centric world, it seems like everyone’s chasing the dream of a booming side hustle or an exciting business venture. Thinking of embarking on your entrepreneurial journey? Don’t dip your toes into the water without learning from the mistakes and experiences of other business owners. That’s why we asked three successful entrepreneurs to share their best tips on how they got their businesses off the ground.
Read on for entrepreneur tips from Sonam Uttamchandani from Founders Beauty, a skincare brand that crafts products using nature’s healing potential; Push Sharma from HaldyPlus Nutrition, who created sugar-free, good-for-you turmeric mints; and Jen Hoskote from Not Shit, Fun Wines, which offers boutique and sustainable wines from around Australia.
How would you start a business with just $500?
If you’re wondering how you can take your first steps towards being an entrepreneur, we’ve got the deets. There’s no better way to pick an entrepreneur’s brain than with a little challenge, so we asked these business owners how they’d start a brand from scratch with only $500 and no connections.
Unlike her current business, Sonam suggests, “I would focus on a service-based business because products are expensive! Once I have enough capital from that, then I would consider a product-based business.”
For Push, he’d go back to basics. “I would start with the problem I am going after and if I can offer a better solution to something that already exists.” Next, he advises leveraging social media and tech tools. “Nowadays, you don’t even have to set up a website; you can also set up your business on Instagram, TikTok, and more. And given the benefits of AI and lots of free-tech software, $500 can be put to good use accordingly.”
No connections? No problem. “I would network my butt off for new connections,” Jen says. Psst: read till the end for an amazing networking opportunity you need to know about.
Mastering marketing and scaling sales
Want to make an impact? It all starts with knowing your audience. Sonam swears by relatable, solution-driven content. “We consistently focus on the kind of content we’re uploading. It has to be relatable, engaging, and answer a consumer’s questions,” she says.
Meanwhile, Push is all about visibility. Exhibiting at events and trade fairs has been a game-changer for getting his turmeric mints to more people, alongside an online presence with his website and launching on e-commerce platforms like Shopee.
And don’t forget the visual appeal. Jen believes in the power of good design and irresistible bundle deals. “People buy with their eyes,” she reminds us.
The takeaway? Invest in content and visibility – and never underestimate a good discount.
Entrepreneurship is lonely – find your tribe, stat
Cliché but true: an entrepreneur can’t succeed alone. “Advice I was given and did not take (but wish I had!) was to find a like-minded partner and start the business together,” Jen shares. Don’t make the same mistake – find a partner who can share the workload, bounce ideas off of, and strategise with.
Rejections are part of the game, but having mentors can help you get through them, Push says, “we’ve had a fair share of rejections in our search to find suitable R&D partners, suppliers, and manufacturers.” The solution? “I tried to get as much guidance as I could from mentors, marketing gurus and other entrepreneurs.”
Don’t underestimate the value of surrounding yourself with the right people – a strong community offers support, motivation, and invaluable tips for any entrepreneur. Remember, your network is your net worth.
The entrepreneurial journey is a wild ride, but with the right strategies, community support, and a smart approach to budgeting, you can navigate the ups and downs. Wanna get started on your business journey? Read on for an upcoming event that any aspiring entrepreneur needs to know about…
Mark your calendars for The Business Show Asia 2024
Rub shoulders with the best and brightest in the entrepreneurial community at The Business Show Asia 2024 on 28 and 29 August 2024. With 8,000 key decision-makers from top SMEs in Singapore expected to attend, this event provides the perfect platform to expand your network, forge meaningful connections, and explore collaboration opportunities. Who knows, your next business partner or mentor may be a conversation away.
Here’s the cherry on top: you’ll get to hear insights from some of Asia’s most inspiring business professionals and entrepreneurs from the likes of Google, LinkedIn, Microsoft, and Amazon. They’ll be taking to the stage as keynote speakers to share the secrets to their success – if you’re after business and entrepreneur tips, you won’t want to miss this!
Want in on this event that brings together over 250 exhibitors and 150 speakers from diverse industries? Get your tickets today for The Business Show Asia 2024 to meet other dreamers and doers like yourself!
This post is in partnership with The Business Show Asia.
