Harish Pednekar Shares 5 Golden Rules of Entrepreneurship

Everything in life has its own rules and some procedures. It really doesn’t matter whether a person is running a small or a large business, or they have venture capital or whether they are making use of their own savings. The fact is that rules are rules and they still apply. In this post, we will study about the same. 

Starting a business is the dream of every person but do you know what’s that thing new entrepreneur recognize after the beginning of business? There’s no outline that guarantees business prosperity! Every entrepreneur has to toil hard to improve their brand in this competitive market exists nowadays.

Having confidence, passion, great thoughts is only the beginning. Another stage is to carry out SWOT analysis in order to determine probable threats that may affect the business and come with an approach to overcome such obstacles. 

Mumbai-based digital expert Harish Pednekar started his own journey and co-founded Millennial PR and Digital, a 360-degree digital company. With having served more than 500 clients globally, the entrepreneur is going strong by setting a benchmark in the digital marketing world. Below-given are some golden rules of entrepreneurship shared by Harish Pednekar that every entrepreneur must follow.

Let’s have a look at these.

• Figure Out Your Competition

The biggest mistake that majority of new entrepreneurs do is neglecting their biggest competitors. Your company completely needs all focus in order to reach the heights of success. Not knowing about the competitors can affect your business productivity in the long run. 

So, before beginning concentrate on who your opponents are as well as evaluate their strengths as well as weaknesses. Use your competitor’s strengths as the learning reference since it’s a familiar trade secret that you can use to improve your business growth. 

• Try Creating an Opportunity 

This is not only applicable to entrepreneurship, being proactive, no doubt really makes a big difference. Rather than waiting for some chance to come at the doorstep, it’s better to create one yourself.

In short, entrepreneurs employed in any field must follow “can do” approach. Wondering why? Since it can resolve half of the issues that entrepreneurs experience while running the business!

Also, when an entrepreneur becomes proactive in their approach, persons who actually come in interaction with them also react in the same manner which, as a result, make things smoother. In reality, on the off chance that you seem to be a laid back individual, at that point, even person who actually works for you won’t show much curiosity in your work. 

• Seek Help and Guidance from Experts 

You might have heard this multiple times; however, effective communication no doubt is the major key skill that is also one of the golden rules of entrepreneurship. So, if a person is beginning his/her business venture as well as requires assistance on it then an ideal way is to contact an expert who possesses years of experience in the similar field and have knowledge regarding the same. 

This will resolve their qualms and questions and also help entrepreneurs in achieving a perspective that every entrepreneur must contemplate. 

• Make Customers Your Point of Focus 

It doesn’t matter whether you as an entrepreneur is manufacturing any item or offering any kind of service to customers, ensure your customers at all times be your main focus point. It's imperative to find out the answer to question “what your customers are actually looking for”. 

This answer will help you in developing the idea; however, you can likewise alter it as per customer’s requirements. So, while doing anything, make sure to keep your customers in focus and work accordingly. 

• Forecasting Change and Preparing for It

In technology field, which continuously changes, one important thing that entrepreneurs in such fields must remember is to change with changing times. Therefore while developing any idea, whether in form of application or software, keep one thing in mind that software that you create can work on numerous platforms as well as compatible with different platforms. 

Thus, forecasting change as well as preparing for it can be considered as the major golden rule that every entrepreneur should have. 

Final Insights 

Hope you have enjoyed reading this guide and it helped you in knowing more about the golden rules of entrepreneurship shared by him. Even though entrepreneurs face many challenges but by following the above-given rules they can easily accomplish the goals they always dreamt of.