Almost everyone has had the dream at one point in their life to start their own business. There are many reasons people want to become entrepreneurs, whether it is because they are tired of working for someone else or have an idea that will create a product or service that people won’t be able to live without. Paul Haarman says, however, only about 3% of Americans run their businesses. So why is that? What makes some people become entrepreneurs while others do not? According to scientists, your personality and your brain play the most significant role in being an entrepreneur. After extensive research on different personality types, scientists have developed three personality profiles: The Entrepreneur, The Explorer, and The Crusader. These three profiles represent how differently wired each person is. One profile does not have more of an advantage over the other. The only difference is how each person relates to unavoidable circumstances, which can change their lives for better or worse depending on what they are dealing with. Paul Haarman says the most critical factor in starting your own business is having confidence in yourself. However, if you have low self-esteem or don’t believe that you can do something great, then nothing will pan out the way it should. To cope with this kind of thinking, some people turn to others for help, whether a friend or a family member. This help usually comes in the form of motivation and encouragement. It is beneficial for those who are struggling to overcome obstacles but at the same time. you want to be wary of who you put your trust in. You must think about why…

“I have this idea for a startup.” It’s the first sentence most people say when they start talking about their idea says Paul Haarman. But before you can make your idea happen, there’s something else you need to do: validate whether or not the startup is worth pursuing. 1. Google searches your competitors and sees if anyone is already doing it: You’ll often find that someone has already done what you want to do and that there isn’t much interest in it. If no one is currently doing it, then proceed to step two. If someone is, consider either trying to work with them as a partner or finding another way to build your product/service to avoid competing with them. 2. Find out if your target market exists: This involves creating a survey or doing extensive interviews with potential users of your startup’s product/service. Find out who they are, what their problems are, and how much they’re willing to pay for a solution. 3. Determine the MVP (minimum viable product): Your MVP is the smallest number of features you can have that will still solve your customers’ problems without having too many bugs or being unusable in itself because it lacks so many features. In other words, it’s the bare minimum you need to get something done without having to work on unnecessary things first. 4. Test your product/service: Once you’ve created a prototype of your idea – whether that be a website that’s already built or just a description of what you plan to do – start testing your product/service with potential customers. Paul Haarman says to keep in mind that your idea may…

You went to college and decided that you wanted to become an entrepreneur. Paul Haarman says congratulations, you’re not the only one! If there’s any time in your life where studying other entrepreneurs is appropriate, it’d be right now: there is a list of dos and don’ts on how to start your first business and succeed as an entrepreneur. Paul Haarman reminds us to keep in mind that there’s no perfect formula for success, but we give you some guidelines to figure out if this path is right for you. While some people go into entrepreneurship with nothing but hope and passion, sometimes they might lack creativity or business savvy. By learning from those who’ve gone before, maybe some of those pitfalls can be avoided. But there’s no need to be discouraged if this isn’t the path for you. If entrepreneurship doesn’t seem like your thing, hang out with us on campus and enjoy our student orgs, Greek life, or football games! And if that doesn’t do it for you, check out how to get jobs on our homepage! Do This: Take the time to learn about what you’re getting into. It is good to know all possible options available before making any commitments – whether your goal is an entrepreneurship degree or not says Paul Haarman. Researching entails knowing what tasks are involved in business operations and understanding the pros and cons of certain ventures (including self-employment). Do not limit your understanding to one or two examples; expose yourself to as many models as possible. Don’t: Underestimate the time and effort it takes. If you think entrepreneurship is a fast track to making money,…

You have a brilliant idea for a business, but is it worth the risk of starting your own company? Startups are very risky says Paul Haarman. The failure rate is high, and most startups fail within the first five years. However, if you don’t know how to be successful in entrepreneurship, you could lose more than just your time and money: You also might lose your health and sanity! For those who have already started their businesses or for those who want to start their own companies despite all the failures and risks involved, here are tips on how to be successful in entrepreneurship: Be passionate about what you do If there’s one thing that will help you achieve success as an entrepreneur, it’s passion. Passion keeps entrepreneurs going despite all the struggles and challenges they face. If you’re not passionate about what your business does, don’t expect to last long. Go against the stream As per Paul Haarman, you can find several reasons why you shouldn’t start a company: You don’t possess the necessary knowledge and skills; there’s no market for your product or service; and so on. But if you want to succeed as an entrepreneur, you need to overcome these negative thoughts and press forward anyway! Have that positive mindset If you believe that everything will be okay, then it will be okay. However, if you think everything is going badly for you, everything will go badly for you because of your mindset. Maintain a positive mindset and never lose hope, especially in times of difficulties. Don’t give up easily You need to have lots of patience if you want to succeed…

STEP 1: Know your product or service Before you go ahead and start a business, you must have a general understanding of what you are going to sell. It doesn’t matter if you create an online store, sell clothes, accessories, or any other material thing (including services). As per Paul Haarman what matters is that this product is something that has demand in the market. The question now becomes; how do I know there will be demand for my product? This can be answered by researching your target industry. Try looking for competitors already in the market; searching on Google (and maybe Bing) for keywords related to the sector would help find people who are interested in what you plan to sell. This is the first step to take if you want to start a business. Step 2: Create a business plan In this step Paul Haarman says, you must already research the market and gather enough information on how well your product(s) will fare and what you need to do as far as marketing strategies go. Once this information is together, write it down – put everything together in a document known as a “business plan.” This can be presented to friends or family members to review it and help improve it if necessary. You may also think of investors who would be willing to financially back your new enterprise – depending on how much money you are looking for; these could include government organizations such as SEDA (Small Enterprise and Development Authority). STEP 3: Raise funds Before you start your business, save money so that you can use it to finance your idea…

Why do many entrepreneurs fail? Some new businesses go under almost as soon as they open their doors. Others appear successful at first but ultimately close down, even after enduring for several years says  Paul Haarman. It can seem like the key to success is simply a matter of luck, but this isn’t necessarily true. However, most people don’t realize that there are everyday habits and characteristics of successful business owners. So how do you know if you have what it takes to succeed in your new venture? It’s easier than you think! And here’s a little secret: Those who aren’t cut out for entrepreneurship usually know it right away – so they either give up or sell their idea to someone else. But those with the necessary skills and traits tend to succeed. So how do you know which camp you fall into? Keep reading! We will reveal the qualities that successful entrepreneurs have in common and the critical habits that are vital to success. Paul Haarman says we’ll start with what not to do. Many people think it takes a unique type of person to be an entrepreneur, but the truth is that most who try don’t possess what it takes for business ownership. While there are many skills necessary for entrepreneurial success, three significant factors separate those who make it work from those who don’t: 1.) Flexibility and Resilience – You must be able to adapt and bounce back quickly when your business hits a speed bump or fails. The ability to recover rapidly from failure is essential if you want to succeed in this game because you will hit lots of…

Grinding, hustling, and pushing for traction: this is what entrepreneurship entails, and that’s precisely what we want to talk about today says Paul Haarman. Starting as an entrepreneur can feel like a daunting task. But it doesn’t have to be. Nobody said it would be easy, but there’s the enormous potential of growth, freedom, and fulfillment on the other side of the challenge. Find your passion – What drives you? What excites you? What do you care about? Why does it matter to you? Your answer to these questions will determine where you’ll end up in life more than anything else. If you don’t know how to answer that question, do some soul searching and try different things until you find your passion. Find a problem to solve – Once you’ve found your passion, it’s time to start looking for issues that you can try and solve. What point in life bothers you the most? Is there anything in your daily routine that annoys you so much that you’d love to fix it? Try and tackle this head-on and see what happens. What we think is unimportant often turns out to be the opposite once we dive deep into what we care about. Think big but start small – Paul Haarman says, your initial ideas might seem overwhelming and too ambitious at first glance, but instead of feeling discouraged by them, see how many of those things you could get done with enough effort and dedication. And this doesn’t mean one big project followed by a few smaller ones. It means multiple small projects chipping away at the bigger one until it’s doable. Make time…

Do you know of someone (a friend, perhaps) who always seems to be starting a new business? asks Paul Haarman, And then, after several years of doing this, that person is living the “good life” and no longer has to worry about money? If you do know such a person, you might have identified an entrepreneur. But what exactly does it take to be one? What type of personality is best suited for entrepreneurship? Can anyone become one, or must they possess some inherent quality or trait which makes them more likely to succeed as an entrepreneur than others would? As per Paul Haarman, many people assume that all entrepreneurs are born with such qualities and traits. Indeed, there do seem to be certain personality types that lend themselves more quickly than others towards becoming an entrepreneur. One widespread assumption is that successful entrepreneurs are risk-takers, but I’m not sure this has much to do with their success beyond the initial stages; after all, very few people who take risks succeed at them (that’s why they’re called ‘risks’). Another popular belief is that all entrepreneurs are highly ambitious and laser-focused on achieving their goals at any cost, even if it means working themselves to death for years before finding success. But again, this does not seem to be supported by historical or current data. Some of today’s most successful entrepreneurs had extremely humble beginnings and did not start in life thinking, “I want to be a billionaire!”. Therefore, I argue that there are four types of entrepreneurs: (1) The Hobbyist Entrepreneur This person takes risks, runs the business with laser focus but fails to get…

If you want to be an entrepreneur, you need to know what is involved in the job. Just like any other career, some specific requirements and expectations come with this position says Paul Haarman. Keep reading to find out more about entrepreneurship. Small business owners often work long hours and wear many hats. The rewards can be rewarding but not without their drawbacks and risks. When starting your own business, always start with a solid plan before making purchases or jumping headfirst into things you might regret later. Be sure to cover your bases first, then jump right into it! When you first start up an online store or create your website for your company, make sure that you have an excellent grasp of the available tools. Many entrepreneurs don’t realize how easy it is to add eCommerce via WooCommerce or Shopify, for example. Get an excellent feel for all your options before moving forward with a website. As per Paul Haarman, if you plan to hire employees, make sure that they have the required skills and knowledge to get the job done right. You wouldn’t want employees coming in late every morning and disrupting your office’s workflow by checking Facebook and Twitter on their phones constantly, so be sure your employees possess exactly what you need them to do! During these challenging economic times, businesses must go above and beyond customer service expectations. Customers will choose where they purchase their goods based on having an exceptional experience with the customer service, which is why it’s key to make sure your business can meet these high standards. It will bring you many new customers and…