Young Entrepreneurs

How can entrepreneurs be successful in their Environment?

Senior Seminar
Mrs. Jasmine Hawkins

Rahsul Barnes
Senior Project

How can entrepreneurs succeed and make a difference in society? These are ongoing
questions baffling the minds of the youth. The keys to being successful is being
determined, staying consistent, and knowing the strategy of time management. These
are only a few of many of the techniques needed to becoming successful. It also takes
vision and dedication to be an young entrepreneur. There are many young
entrepreneurs in the world today that strive to model these examples.

What is an entrepreneur? An entrepreneur is a person who develops, organizes and

operates a business. (Entrepreneurship, 2015) Entrepreneurs are leaders willing to take
risk (Young Entrepreneurs,2013). The problem is people are afraid of taking these risk
because they are afraid of failing. Many resources are required to run a successful
business. The success and or failure of a business ultimately is the responsibility of the
entrepreneur. The latest strand of entrepreneurship has shifted from just a business
aspect to include those of social, political backgrounds, and people with an
entrepreneur mindset.

Great minds such as Bill Gates, Sir Jonathan Ive and Mark Zuckerberg changed the
world and the economy. There products made an major impact on our society. By
staying consistent and determined these leaders changed our environment and made it
easier for communicating.

Bill Gates founder of the worlds largest software business began his quest to computer
programing at the age of 13. Hard Work, tough skin and dedication allowed Bill to
continue his quest to build a personal computer and also become one of the worlds
richest men.

Mark Zuckerberg American Computer Programmer noted for his contribution to the
social networking website Facebook. Zuckerberg also developed an interest in
computer programing at An early age. As a high school student Zuckerberg created a
music software program Pandora. Facebook, Zuckerberg most noted contribution to the

world opened up the window of creating profiles, uploading photos, and communicating
with other users. Zuckerberg contributions made him the youngest billionaire .

Another great entrepreneur Sir Jonathan Ive also made a great impact on the
environment. Sir Jonathan is an British industrial designer an executive for Apple. Ive
used his entrepreneurial mindset and took apple computer to the next level with his
design of the iMacs. After two million iMacs were sold in 1998, the design gave Apple its
first profitable year since 1995. Subsequent designs reflected his continuing effort to
maximize efficiency and convenience for the user. (Moredock,2014)

To be an successful entrepreneur you must be willing to exercise initiative and

incorporate market opportunities. Employing, banding and sometimes re-branding are
key factors for success as well as staying relevant. Entrepreneurs have to always
educate themselves to new things.

Time management is also important in building a successful entrepreneurship.

Time management helps you to complete tasks quicker, set priorities, and help to carry
out a productive schedule. Anything you create must be managed. (Entrepreneur's Top
10 productivity, 2015) Not managing time can lead to sabotage of your business or your
brand.Not prioritizing can lead to burnout. Managing time accurately will produce
success and increased revenue. Having a plan of execution about how to track the
managing of your time can keep young entrepreneurs from being overwhelmed. Many
young entrepreneurs are trying to manage a business, complete school and also
balancing day to day life as a young person.

Branding is one step in building strong entrepreneurship. Several factors like

uniqueness and creative thinking are used in producing a product or service. Strategy
such as how, what, where, when and to whom you plan on communicating and
delivering on your brand (The basics of branding,2015).

Out of the box thinking is necessary in creating your product. Some of the greatest
achievements through entrepreneurship have come because of persons who dared to
dream. One of the greatest downfalls of branding comes when a person or a business
lack originality. People are always looking for the new. Successful entrepreneurs must
be willing to rebrand to keep current with times or according to needs.
Simply put, your brand is your promise to your customer. It tells them what they can
expect from your product and services and differentiate your offering from your
competitors (The basics of branding, 2015) Effective branding should let you put into
one sentence what your brand is. Optimizing your personal brand helps you to market
yourself. Personalizing defines you and separates you from others. Your product and or
service should create an uplifting, personal experience such as great customer service
abilities, deep knowledge about a particular field, strong sales instincts or efficiency.

Marketing is the foundation for building a brand to assure success in entrepreneurship.

Solidifying your product, service or brand through marketing requires strong
communication. Key elements of marketing are products, price, public relations and
promotion. As an entrepreneur marketing is everything. Promoting allows you to place
your product or service in the hands of potential customers. Just like in the real world it

is important to know your customer and audience on social media. (Young

Entrepreneurs, 2015) The basis for developing resources such as time and money to
assure profit for your product or service is a key component to marketing. Not utilizing
strong promotional skills limits the resources an entrepreneur needs to build a
successful business. This can ultimately end ones career. Defining what makes you
special will pave the way for your business. Using tools such as ADS, blog, social media
profiles, etc., helps to promote your products and or services on a broader scale. For
small and medium enterprises and businesses having a presence on social media is not
just important anymore it is essential (Young Enterprenurs,2015).
Young entrepreneurs of today have more opportunities to promote on a broader scale
international unlike businesses in the past because of social media.

Managing your business efficiently produces good result, reliability, consistency while
offering good quality. Anything you create, you can manage (How to manage time with
10 tips that work,2015). Most well organized businesses have low turnover of
employees and offers a healthy work environment. Customers of healthy organizations
are more likely to return, reinvest or refer a product or service. A business mismanaged
can lead to poor service, undervalued customers and employees. Welling to delegate
when necessary can help entrepreneurs avoid burning out. Good management requires
excellent time management. Not maintaining your business well can leads to negative
customer impact, which can ultimately destroy your brand. As an entrepreneur you may
be frequently interrupted or pulled in different directions. While you cannot eliminate
interruptions, you do get to say on how much time you will spend on them and how

much time you will spend on the thoughts, conversation and actions that will lead you to
success (How to manage time with 10 tips that work,2015).

The framework entrepreneurs need to be successful includes dedication. Entrepreneurs

must be committed to a task or purpose. Margarita Barry a Detroit resident along with
fellow entrepreneurs, neighbors and longtime residents are banding together using
strong dedication and determination to help improve and rebuild Detroit after suffering
from an economic downfall (Taylor,2015) . Many entrepreneurs are confused around
dedication and overextending. Stretching yourself thin is what keeps entrepreneurs from
reaching full potential. Committing to making sure a product or service is presented and
ran efficiently will result into revenue and recognition. Overextending can lead to flaws,
missed deadlines and possibly a poor product.

Dedication is what makes a business survive and thrive. Making sure you prioritize your
time efficiently will help to build your productivity. Many people have created an
atmosphere that working harder is the key to success. Committing yourself to the
success of your business is the key. Working smarter by ensuring productive work time
will keep you focused and on-task.Procrastination is a disaster in the making for any
successful business. Procrastination is a process that undermines and causes
distraction from your goal. Well managing of your time will bring increased revenue.

How can young entrepreneurs effectively help their community ?

For entrepreneurs being involved locally help to tie your product or brand to a need
within your community. Opportunities such as networking, promoting and educating help
to increase business relationships. Community involvement is the platform needed to
put information in the hands of an audience that might not have stepped into your
business or known about a product or service you render. Involvement within the local
community gives entrepreneurs an opportunity to give back.

Building a strong community adds value to your business because it forces you to think
about your customers need in order to create content, ask question and invite their
participation (Nevogt,2015) Community involvement doesnt start and stop at you front
and back door. In 2011 Scott Gerber and Ryan Paugh developed world-class
community network Young Entrepreneur Council (YEC). A networking Community for
business professionals, that provide business services concierge, peer-to-peer
mentorship, media exposure to entrepreneurs from almost every industry.

This networking community helped tens of thousands of entrepreneurs bring community

management to the next level. Members learned to maximize access by sharing as
much information with your network and community such as, services and tools. This
enhancement can help with stronger referrals among members.Members are also
encouraged to focus on a common ground to help your networking community
genuinely identify with your vision. This will increase proper business relationship
partnering.

Being proactive and personalized is another tool taught. This practice shows how best
members can serve or improve their business on a regular basis. This tool promotes
specific ideas and products that you and your team use beyond sending invoices and
promotions to members.

Young entrepreneurs have the power to make a difference in their society, But its
there choice to make the right decisions. By staying focus,united, and determine
entrepreneurs can make a positive effect on the community.

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