5 Tips For Young Entrepreneurs To Survive In The Wild Jungle Of Business

Young entrepreneurs throw themselves in the unknown when they start their first business. All the actions and decisions that they make can be compared with walking in the jungle. You do not know in which direction to go or where to step, you are basically just following your instincts.

The world of businesses is a wild place in which only the strong ones survive. 90% of startups fail and only 10% manage to continue and succeed. It is a battle in which each side plays its best cards, uses its most efficient strategies and fights until the very end.

So how do the businesses from our 10% survive? There are a few key characteristics that can be observed at companies that make their way towards success:

  • They have clear objectives
  • They know who their customers are
  • They know what to offer in order to satisfy the needs of their target audience
  • They are open to changes
  • They understand that business growth is the key to success

Although these may seem clichéd aspects, as they are met so often, they represent the core values of successful businesses. The great question is what can young entrepreneurs learn from these characteristics? They can get the big picture of what they need to do in their business and in what direction they need to go.

What young entrepreneurs really need are practical tips to follow in order to lead their business to success. Here are 5 actions which will help build a strong position in the business jungle.

1. Attend conferences specific to your business field

As a business owner, you need to know everything that is going on in your field. New strategies, new tools, every new change. Conferences are the place where you can find this information. You can meet people from your business circle and learn from what they have to say about the latest trends that are happening in your business field. Address them questions, ask for guidance and make this event a great opportunity for a future business relationship.

Actionable steps:

  • Go to meetup.com
  • Search for meetups and conferences from your near area
  • Attend events specific for your business domain
  • Address questions to the speakers and talk to key business people
  • Exchange contact details with people you meet

2. Join a hub

Hubs are special organized coworking spaces. People go to these places because they get an office space at a convenient low price and they have access to meeting great people. Joining such a community will give you the chance to meet people with great business experience, people who work in the same domain as you do or to attend events specific for their business domain.  

Actionable steps:

  • Search for hubs in your area
  • Become a member by paying a monthly subscription
  • Attend it regularly every week
  • Interact with other members and speak to them about your business
  • Ask members to recommend you to other potential customers

3. Always use visual content marketing: your social media, website and sales materials

If you want to be part of the 10%, you need to embrace everything that is new. Visual content is a popular and efficient strategy used in marketing. Content that contains relevant images gets 94% more views than content that does not. Video is considered by 51,9% of professional marketers from all over the world as being the content with the best ROI. These numbers are solid enough to determine you to start using visual content right now.

Actionable steps:

  • Access free stock photos websites: pexels.com, pixabay.com
  • Pay a photographer or take pictures yourself
  • Hire freelancers to create videos for you
  • Include at least 1 photo in each post on your blog/website
  • Always include visual content on social media

4. Take advantage of LinkedIn

LinkedIn represents the place where businesses and employers meet and connect. It is a social networking website used for business and professional purposes. Therefore, LinkedIn becomes a great opportunity for you to promote your business. You can send messages to people from your connection list about your business regarding your latest products or services.  

Actionable steps:

  • Go to LinkedIn.com
  • Create a LinkedIn profile
  • Create a LinkedIn page for your business
  • Grow your connection list of people you know
  • Take advantage of “Send a message” and “InMail” tools to communicate with your connections  

5. Post on Reddit

You want all your potential customers to know about your business. Reddit is a social media and social news aggregation website. It has 234 million unique users which discuss a variety of topics, from latest technology trends to daily household activities. The website is divided in many specific categories called subreddits. It is a great place where you can engage with people, ask for their opinion about a business issue and learn from their experiences.

Actionable steps:

  • Go to reddit.com
  • Create an account
  • Choose the subreddits you are interested in as a business person
  • Start commenting on posts and enter discussions in order to receive karma (each subreddit can require a specific number of karma)
  • Start discussions by posting in these subreddits
  • Post links to your business website

All the actions that you take need to bring you closer to achieving your business objectives. Remember that, in order to be part of the 10%, you need to search for the tools and resources that will keep you in the battle arena.

Got any secret tips for young entrepreneurs? Share it with us in a comment below.

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