My personal Entrepreneurship Experience & Suggestions

This will be my first posting in this community and I am surprised that there is a community just like this. So, I'll be preparing about the July Inleo daily prompt about entrepreneur on this community.

I've been an entrepreneur before and believe me, it's very hard to maintain a good reputation and high standards in this kind of industry. I think I begin selling products online and it started on pandemic which is 2020. It's been a long time now but the experience for me is fresh and I can't believe that I quit becoming an entrepreneur but why?

Here's how it started for me to become an entrepreneur before, it started when I ordered online lots of discounted products online and it's really cheap where the prices were as half as the SRP when you sell it in the market. So, as a buyer myself, it's really tempting to buy that products and thinking that I could sell it at 80-95% of the SRP of the market not knowing about how vast is to become an entrepreneur.

I started on buying products and mostly were about foods or perishable goods. I also even contacted one of the distributors of the renowned companies in food products like Asia brewery, Kokola, and others just to sell it online or in our place but I think my budget is too tight that I also need to pay expenses for the labor and other kinds of things because I am the only one running my own business and having a few to no knowledge about entrepreneurship makes my business going down and force to stop running.

What keys do I lack from that experience?

There are several keys that I need to have a successful business and below were some keys that I think that might improve if ever that I will do business again, this might help you to improve on your business.

  • Connections

I think connections to other people that were also entrepreneur is also a key to success of your own business. Lacking of connection means that you only have a few people that were looking forward in your business. For these connections, they also play a big role in building up your business and a good connections gives you a good resources to other things.

  • Marketing

As I started my business, I don't have enough materials to market my own business and marketing makes a good improvements in your business. To market oneself gives a big advantage to your business as a whole. In todays generation, we only use our social media application to market our own business.

  • Investing

To become an successful entrepreneur, you just don't need to only talking about stuffs on how good it is but a good investment on your end can give a big impact in your business. Lacking of funds on your own can be fatal in the long process.

  • Plan ahead of time

This is one of the best strategy for a successful business. I am not an entrepreneur myself but planning on what's the next move for a success. For me, I didn't plan before and I just go on whatever is on the table.

Thoughts

These keys may help you in the future and I only shared this one as an experience for myself of what I am lacking when I started my own business. Entrepreneurship is really big, there are lots of factors that might gives us a good response and most of the times bad response.

There were others that they success in their business as an entrepreneur but there are others that were not but a good strategy gives you an upper hand to those who started with no strategy at all.

Today, I just continue on striving on Hive platform and I think this is also similar to an entrepreneurship that I also need to focus just like selling high and buying low. Nevertheless, my experience will serve as a reminder for me on what to do in my next journey just like in Hive that I am into.

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This is my Entry of the Inleo Monthly prompt for #julyinleo. Here is the link for this day of Monthly prompt

Note: The photos ware edited by myself using Canva

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Good morning @vinzie1, I think many of us undertake without any theoretical knowledge on the subject, only when you are already in it and things are not as you thought is when you start to invest, question, observe, prepare and have more clarity of what you need to know to move forward.

I hope you are encouraged to undertake again, although as you point out for me Hive is also a venture and here we are, putting the best and continue to grow. Thanks for joining the community. Welcome. 😊

Buenos días @vinzie1, Creo que muchos emprendemos sin ningún conocimiento teórico sobre la materia, solo cuando ya estas en ello y laas cosas no son como creías es cuando comienzas a invstigar, cuestionar, observar, prepararte y a tener mayor claridad de lo que necezsitas saber paar seguir adelante.

Espero que te animes a emprender nuevamente, aunque como señalas para mi Hive también es un emprendimiento y aquí estamos, poniendo lo mejor y seguir creciendo. Saludos, Gracias por unirte a la comunidad. Bienvenido. 😊

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When I started in my business, I just didn't know how it works and I just dive in into it. Maybe the timing at that time is not perfect and that's why it's fated to fail.

Yes, I am now focus on investing more on Hive because I know Hive will not let me down.

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It’s good that you have learnt this experience while in your business and I can relate with them too. Sometimes we don’t see these things coming until we venture into business.

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