Entrepreneurship is the future goldmine and as such, the possibilities of an entrepreneur is endless in an ever-growing global market. This has propelled people to engage in this tedious yet rewarding avenue.
The road to a successful entrepreneurship journey isn’t smooth, and the chances of success are dependent on how well certain hurdles are crossed. Nonetheless, the concept of impossibility does not limit an entrepreneur’s mindset.
We had the pleasure of meeting with a seasoned pro in this field, Ryan Hoggan, who, through his actions, we can emulate the structure for a successful entrepreneurship journey. Ryan Hoggan has more than 18 years of leadership, global business development and entrepreneurship experience in the health equipment, medical devices and natural health products sectors.
In our brief chat with Ryan Hoggan, he shares five tips every entrepreneur must adopt in their business strategy in 2021 to have a successful year.
Is 2021 a good time to start a business?
There is no right or wrong time to start a business. Many great businesses were formed midst crisis.
Although Covid-19 has created a lot of problems for new and existing entrepreneurs, we cannot deny the fact that even in this period, more entrepreneurs are springing up. Many companies started in the wake of the recession and are still striving.
Amid the turmoil of a pandemic and seesawing fortunes for startups, a number of early-stage venture capitalists have made a name for themselves in 2020.#VentureCapital #VentureCapitalistshttps://t.co/uibxDHMBlB
— Ryan Hoggan (@RyanDeanHoggan) November 12, 2020
One industry that is thriving during the pandemic is the real estate market. If you want to dive into real estate investing, it is important to understand the current trends in order to predict the future of the real estate market.
Ryan Hoggan, what are the challenges entrepreneurs are expected to face in 2021?
Starting a business is not a bed of roses. Many challenges are associated with running a business. These challenges include:
- Inadequate funding
- Changes in government policies
- Inflation and so on
We must not allow these challenges to prevent us from pursuing our dreams of being an entrepreneur.
How can entrepreneurs improve their business?
My advice to every entrepreneur is to focus more on building a successful brand. You can promote your brands through social media marketing. Marketing allows potential customers to be aware of your competitive advantages.
Proper knowledge of your product is also required for successful businesses. This allows you to be able to carry out well-informed decisions and therefore reduces the risk of failing.
You can visit my website for more business and investment ideas that are perfect for new entrepreneurs.
In your opinion, how can an entrepreneur raise finance?
This is an important question. The pandemic era has brought financial difficulties.
Many businesses are failing because they cannot get loans to finance their business. We can obtain funds from our family and friends, who may be willing to give us at little or no interest.
Also, many governments have created reliefs for small and medium enterprises at no interest rate. I will advise entrepreneurs to make use of these reliefs. Some banks are willing to give loans to the entrepreneur. You should consult your banks
What makes an entrepreneur successful?
Many factors contribute to the success of an entrepreneur. An entrepreneur must be passionate about his business. It is this passion that makes sure he continues even when difficult times come.
Also, entrepreneurs must be able to work hard and smart. They must also be consistent in whatever they are doing. Finally, an entrepreneur must never give up.