Top Tips For Entrepreneurs In 2023

The 2023 economy is more competitive than ever, particularly for individuals who wish to start and operate small business ventures outside the mainstream corporate world.

In fact, anyone putting their financial resources on the line can use as much help as possible.

Creative people who possess the drive and perseverance to become owners can jumpstart the process by earning a college degree.

Getting and financing a four-year diploma can be tough in today’s world, but millions of individuals do it. 

Besides tackling a degree program, what other suggestions can facilitate a person’s dream of running a profitable organization?

Initially, it’s imperative to stay on top of the news, especially stories related to economic and commercial trends.

Other ideas that pay off include taking an accounting course, exploring the non-profit sector, delving into the financial services arena, building an extensive professional network, and making the most of your company’s first customers.

Here are details about the most pertinent points.

Finance And Earn A College Degree

The two pieces of the degree puzzle are academics and financing. Everyone who attends college must find a way to pay for their education.

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The lucky few who have savings or family support can avoid the need to borrow.

But, for most young adults, taking out a student loan is a central part of their educational quest.

Fortunately, it’s possible to apply for loans and end up with enough cash to cover the costs associated with a four-year course of study. 

Future entrepreneurs can focus on majors like business administration, IT subjects, marketing, and non-profit management.

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There are dozens of potential directions within a large academic institution, which makes it easy for independent-minded people to get the right kind of training while in college.

It’s true that some founders and startup owners do not have degrees, but the majority do and are able to put their education to good use.

Study Economic And Commercial Trends

There’s no substitute for staying on top of current events in economics, finance, business, and areas related to your special interests.

If you plan to open an e-commerce store that sells high-end audio equipment, there are some concrete steps you can take to educate yourself.

Read industry journals, follow stock market reports on the top companies in the segment, research leaders in the niche by viewing their websites, and check out economic statistics on how the market is currently performing.

Try to set aside about 30 minutes per day to do homework that includes relevant research, targeted reading, and market analysis.

Take Basic Accounting Courses

Accounting is the language of commercial business. Consider taking the first two college-level classes in the subject to gain a firm understanding of how money flows through a company and creates profits or losses.

There’s no need to take additional coursework unless you have a penchant for special sub-categories of the field.

Even if you are not a numbers person, as so many claim, it’s worthwhile working through those basic lessons and trying to absorb the core concepts of accountancy.

The effort will pay off in the long run as you get into the nuts and bolts of daily operations as an entrepreneur.

Consider The Not-For-Profit Sector

Don’t overlook the not-for-profit sector when exploring startup opportunities. While the financial structure is different, many of the daily tasks are like those in traditional commercial businesses.

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As a founder, you can pay yourself a salary that is commensurate with industry averages, engage in fundraising for worthy causes, and hire employees as needed.

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Some of the nation’s top universities and colleges offer undergraduate and master’s degrees in non-profit management.

Possible niches include providing free education for needy adults, promoting literacy, raising funds for charitable hospitals, building homes for destitute families, and paying for job training for ex-convicts.

Network Like You Mean It

Networking is becoming more important than ever, especially as the commercial universe transforms itself into a mostly online community.

How can independent owners get the most out of building a professional network?

Begin by joining the local Chamber of Commerce, a low-cost or free way to make dozens of formal and informal contacts.

Chambers are an excellent first step for new owners who launch small companies. Also, leverage the power of social media to get the word out about your organization.

Use old-school techniques as well, like handing out printed flyers and business cards.

Offer to deliver free presentations to local groups, conduct no-cost webinars in your area of specialty, and think about starting a podcast that can serve as an online infomercial for your target demographic.

Jonathon Spire

Jonathon Spire

Tech Blogger at Jonathon Spire

My diverse background started with my computer science degree, and later progressed to building laptops and accessories. And now, for the last 7 years, I have been a social media marketing specialist and business growth consultant.

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Jonathon Spire

I blog about a range of tech topics.

For the last 7 years I have been a social media marketing specialist and business growth consultant, so I write about those the most.

Full transparency: I do review a lot of services and I try to do it as objectively as possible; I give honest feedback and only promote services I believe truly work (for which I may or may not receive a commission) – if you are a service owner and you think I have made a mistake then please let me know in the comments section.

– Jon