Before you start a business, read this

In the last ten years, everywhere worldwide, it is getting harder and harder to make your business visible. Choosing the best fitting form of business aligned with your character and your skills will help you to be successful in the long term.

There are so many new ways of making business. You can choose to become a freelancer, a businessman, a start-up owner, an entrepreneur, or an intrapreneur.

We live in exciting times, and those who recognise what is going on will be the ones able to thrive no matter the circumstances. There will be challenges, but how you react to them will make you or break you as a business owner.

In this chart from GEM 2019-2020, you can see in almost every country more than 30 % of the people know someone in their neighbourhood who started business in the last two years. The wish for freedom is increasing, but starting a business is not a guarantee to maintain it.

Knowing someone who has started business in the past two years SOURCE: GEM 2019-2020 

Of course, not everyone takes challenges the same way; many ventures fail in their first business year. But around 80% of them survive. Many successful entrepreneurs out there are having the time of their life, leading a thriving business.

Watch the video to know more about what you can learn from my upcoming articles:

The impact of the global pandemic on entrepreneurs

In 2020 because of the pandemic and the unexpected special conditions, the situation was extremely challenging for business owners. Shops cannot open, there is no business as usual, people can't go out, and curfews. The traditional way of making business became impossible; remote working and digitalisation are essential to adapt to the new conditions. Working from home doesn't make things easy; entrepreneurs have to carry more burden; children stay at home, homeschooling came into the picture.

Juggling with your work-life balance can be stressful and frustrating. In this new era resilience, patience, and creativity are some of the most crucial traits entrepreneurs need to survive.

As you see in Oberlo's report, just in the U.S., 31% of the small businesses are non-operational currently because of the pandemic.

Source: Oberlo Small business statistics 

There are so many things that can make or break an entrepreneur. Internal and external factors are both playing a role in the success or failure of a business. Amongst other traits, straightforward basics, innovative mindset, financial responsibility, preparation, and the entrepreneurial environment's support are the most important factors.

In the GEM report, 2019-2020, the survey creators also point out that people cannot see business opportunities, and even if they see it, they don't act on it.

Is there a fixed recipe for success?

There is no fixed recipe for success, but there are patterns and takeaways that we can utilize. Learning more about the new ways of business, being more self-aware and conscious about our business decisions, improving our conceptual skills will help us to thrive no matter the circumstances.

The idea behind the Entrepreneurship challenge 2021 is to support those struggling with business, to give clarity and practical help.

This year I will use my personal traits to summarize useful information about business and a fulfilled successful life as an entrepreneur. I will add my personal insights, and I will collect and reveal additional perspectives from the best entrepreneurs in history. 

SOURCE: Guidant financial Small business trends in 2020

What does it take to become successful in business?

Some say it only takes luck to become successful as an entrepreneur; some say its the charisma, even arrogance, but all experts agree there is a specific pattern. Some particular traits and skills will make it easier for you to champion the entrepreneur journey. We will go through these traits, and you can make your own checklist about the traits that you possess if you don't have them you can still partner up with people who can complement your traits.

There are also external factors that can favour your enterprise. Reading through this article will clarify how ready you are, what skills you already possess, and what skills you need to acquire.

You will see the best places to set up your business in the attached report, and you will find out what your entrepreneur personality is.

You will also clarify what to avoid if you set yourself up to enter this adventurous lifestyle.

Personal message: This article is not a one-time publication. I know we all struggle, and I want to support you. Strategizing, summarizing information and encouraging people is my forte. I try my best to keep you engaged with articles, assignments, exercises, videos, infographics, and more so that we can all get through this period with less stress and frustration.

Sign up to my Youtube channel to get notifications about the updates and videos that I prepare about the fifty-two topics in 2021

How to use the articles:

• Digest each paragraph, watch the video and answer the questions at the end of the paragraphs.
• Do the survey assignments for the 52 topics I reveal this year.
• Sign up for the Entrepreneurship Challenge and get notifications to your mailbox about the 52 topics in 2021 grow with us: RSVP to [email protected]
• Join the Weekly Entrepreneur elevator community networking sessions and brainstorm with other entrepreneurs
• Add your comments, reference other useful resources, share the article with others to build together a go-to page with all necessary information about entrepreneurship.

Start your self-exploration you will find the 52 survey assignments here:

Assignment and challenge

About me:

Hungarian Dancing Economist Brand strategist living in SEA

I mentor, coach, empower and inspire individuals from all walks of life to take back control over their lives by creating their personal brand. I inspire people to reach their highest potential and maximize their resilience by using physical and theoretical exercises.

I encourage people to earn a living that fulfils them personally and professionally. I am a master life coach, a personal development coach, and a personal branding expert.

“I am a born opportunity taker. I love challenges. I believe it is vital today to brand yourself to be able to stand out from the crowd. I work and live for my passion, to help people to create their own brand identity. I do what I love the most. I am an advocate of personal branding.

My motto is: Dare to dance your way!”

Visit www. andreazsapka.com for more.