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10 “Brick-In-The-Head” Moments You’ll Encounter as an Entrepreneur

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entrepreneurship

The entrepreneurial life is one of the most challenging, stressful and risky avenues to success you could possibly choose. The issue with doing it alone in business ventures is exactly that; you’re alone. To be a successful entrepreneur, you have to be driven, thick-skinned, and ready for any curve balls.

Here is a list of 10 ‘brick-in-the-head’ moments you’ll need to overcome on your path to becoming a market leader:

1. Letting criticism get to you

The ways society deals with ambition and success is very odd, and you may feel like you’re unfairly criticised by your peers regularly. The reality is that you’ll encounter plenty of jealousy and bitterness during the course of your career.

This isn’t to say that all criticism is malicious – constructive critique can go a long way. But remember that nobody understands your vision better than you. Remember that the art of good entrepreneurship is to delve where nobody else is willing to go.

When Bill Gates decided to offer his Internet Explorer browser as a free package with his Operating Systems in 1995, it was considered a counter-intuitive move by some, but ended up being the cornerstone for Microsoft’s resounding dominance.

2. The temptation of ignoring constructive criticism

While it’s worth adopting a thick skin to allow unjust criticism to bounce off of you, it’s also important to know when to take it on board and consider constructive comments. As you’re taking the leap into controlling your own business, sometimes it can become too easy to concentrate on the nuances of your work and miss the bigger picture. Take the time to consider advice that you are offered – if it fits in with your vision, then it may be worth taking.

3. Keeping on top of your cash flow

Making sure you’re focused on your finances is one of the biggest parts of being an entrepreneur – after all, it’s all about making money.

If you’re worried about your cash flow, then it’s probably a good sign. All entrepreneurs struggle with money at times in their careers – and so if you don’t keep an eye on your figures then you risk showing signs of complacency. If your figures are really getting to you, then it might be a good idea to skim through your finances and start saving cents here and there.

4. Facing the unknown

One of the most anxiety-inducing moments is being kept up all night wondering which way your venture’s going to go. Entrepreneurship is a volatile career, and coming to terms with the unknown is a big part of the life that comes with it.

Prevention is better than a cure when it comes to dealing with the uncertainty of building businesses. Try to manage your resources well – it could save a lot of worrying a little bit further down the line.

“Many times, the thought of fear itself is greater than what it is we fear.” – Idowu Koyenikan

5. Abandoning your previous career or education

Often the first step on your path to success can be the most difficult and stressful. You could be leaving a comfortable job, or abandoning your studies to go and pursue an idea that, no matter how good, is not guaranteed success.

Here it’s once again advisable to make sure only you have the final word on the route you take in life. Be sure to listen to the advice that those close to you have to offer but just remember that the choice is yours.

6. Time management

Difficulties with time management can be a big cause of stress when setting up your own business.

The most stressful aspect of this could be that you neglect other parts of your life in order to oversee the successful running of the company.

Juggling your time is perhaps the primary problem that is faced by entrepreneurs. You have to make sure you focus on your output, marketing and networking all at the same time, which can get overwhelming.

Here, the best remedy is to keep records of your tasks and goals using available tools. One should set rotas of where to invest their time and attention over the course of a coming week. It might not seem like much, but it could lift a heavy burden off of your head.

7. Making the right decisions

As an entrepreneur, the significance of the decisions you make could mean life or death for your business. This burden can weigh you down heavily. Remember the very best in the industry make the wrong decisions, and many of the greatest entrepreneurs today have gotten into the position they’re in through trial and error.

The markets are often volatile, and extraneous circumstances which could never be accounted for can come into play. One must find a way of coping with the process of making company defining decisions, and once you’ve become confident enough to take big decisions in your stride, you’ll be well on the way to industry success.

8. Staying true to your vision

Things have a habit of changing very quickly in business. You’ll need to adapt to the ever-shifting sands and stay true to your vision. Sometimes this is easier said than done. Construct a mission statement for your business that you can refer back to in order to hold on to the reason you decided to pursue your idea in the first place. Sometimes seeing what you’re working towards written down can be enough to keep you focused on your goals.

“You have to understand your own personal DNA. Don’t do things because I do them or Steve Jobs or Mark Cuban tried it. You need to know your personal brand and stay true to it.” – Gary Vaynerchuk

9. Team building

Here it’s important to recruit not only the most skilled candidate but the candidate that’ll best fit into your vision for the office culture. Sometimes finding a confident and engaging candidate is a critical factor in recruiting for a job that requires plenty of teamwork and client interaction. The best course of action for lowering the stress of team building is to look for candidates that express themselves in a way that fits the business work ethic best.

10. Dealing with failure

Virtually every entrepreneur has to face the prospect of failure at multiple points in their career. The best way to avoid becoming bogged down by an unsuccessful business is to see it as an exercise in trial and error. Learn from your mistakes, and if your startup has failed, what caused it to fail?

Welcome failure as a valuable learning tool, and jump back into the industry you desire to improve. Improve your original idea or find another one because the life of a successful entrepreneur is built on plenty of experiences and lessons – many of which were learnt the hard way.

What other encounters have you had as an entrepreneur? Comment Below!

Vladimir Yakimenko is a CEO, Investor and Founder of Kanbanchi, a popular project management add-on for G Suite. Kanbanchi is one of the fastest growing add-ons for G Suite and has over 80,000 active users. Our work has been featured on Today.com, Lifehacker, Lifehack and more.

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Entrepreneurs

10 Lucrative Buy and Sell Businesses to Start in 2024

The buy-and-sell business model provides opportunities across many niches

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Businesses to start in 2024

In the dynamic landscape of 2024, starting a business that capitalizes on buy-and-sell models can be incredibly lucrative. This article explores ten different models that entrepreneurs can consider. These ventures range from real estate flipping to trading in domains and luxury items, providing a broad spectrum of opportunities regardless of your initial capital or interest area.

1. Car Flipping

Flipping cars can be a very lucrative business venture for an individual with business acumen, an eye for value, and mechanically adept at cars. It involves buying under-priced cars, restoring, and selling them for a profit. For deeper insights and opportunities in this market, refer to sca.auction.

2. Real Estate Flipping

Flipping real estate—be it houses, condos, or even commercial properties—remains pretty solid business, especially in markets where real estate values are on the way up. Investors buy properties relatively low, do rehab or renovation, then sell at a profit.

The success of the area is endowed with a huge potential spotlight, the ability to juggle various elements such as local real estate market knowledge, and efficient management of renovations.

3. Vintage E-commerce

With the advent of technology, it became easy to sell vintage or retro items over the online selling platform. Be it clothes, furniture, or even collectibles, consumers these days prefer something unique that is eco-friendly and which may have a nostalgia quotient in it. Hence, it brings the opportunity to open an e-commerce shop effectively.

4. Domain Flipping

If you have the skill to predict catchy phrases or business names that would be popular in the future, then buying and selling domain names would be a very profitable business. Register prices are available to purchase domains, which later can be sold at high prices to interested parties or businesses that wish to get an early online identity.

5. Luxury Items

One of the most promising buy-and-sell businesses is the luxury market, and what makes it very attractive is its less sensitivity towards economic downturns. Some of the common items in the luxury market include high-end watches, jewelry, and art, rare cars, all with high yields. Most times, items do appreciate, especially when they are limited editions.

6. Sports Memorabilia

While the sports memorabilia trading business can at times seem lucrative, especially when one focuses on big personae or big events, authenticity and rarity can definitely help items fetch top dollar. Provenance and limited supply both go towards inflating their values.

7. Sneaker Reselling

In recent years, the sneaker resale market has exploded, fueled by a commodity of scarce releases and athletic brand collaborations with a list of celebrities. Today, with operations such as StockX and GOAT, it’s really that easy to break into the worldwide market. It’s pretty easy to find your buyers and make a very good profit if you’re targeting the right trend and releases.

8. Book Flipping

Flipping rare and first editions can become a really meaningful, and yes, one more profitable, business for a book lover. Sometimes the signed ones, rare manuscripts, or those early editions of famous novels could sell for thousands of dollars, usually done by collectors or academic institutions.

9. Furniture Upcycling

Upcycling furniture consists of restoring and using second-hand furniture to sell it at a higher price. For the environmentally aware consumer, this business model has great appeal. It could be pretty profitable if done with good taste and talent in design and restoration.

10. Electronics Flipping

Smartphones, tablets, and laptops resell at values significantly high; hence, business ensues. Buy, refurbish, and sell in better condition to appeal to budget-minded consumers looking for technology at more affordable price points. 

Overall, The buy-and-sell business model provides opportunities across many niches. Be it real estate flipping or vintage item upcycling, you can succeed in both models with market understanding and trend application. That, with careful planning and strategic investment, will throw huge financial returns for these business models in 2024.

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Entrepreneurs

How Your Business Can Outmaneuver Your Competitors by 85%

Did you know that companies that master big data can outmaneuver competitors by 85% in sales

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big data strategy

Did you know that companies that master big data can outmaneuver competitors by 85% in sales and more than 25% in gross margins? Sounds inspiring, right? But the thing is that data alone isn’t enough. Rather, it’s the strategy behind it that unlocks these enviable boosts. So, this article explores how to make the most out of your big data and build a strategy that’s functional and competitive. (more…)

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Entrepreneurs

Most Entrepreneurs Fail to Do This and It’s Killing Their Success

Celebrating progress also provides entrepreneurs with the psychological sustenance needed to endure the marathon of building a business

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celebrate your milestones

The journey from a mere concept to a tangible reality is one of the most exhilarating yet challenging paths an entrepreneur can navigate. This odyssey is punctuated by milestones that stand as testaments to perseverance, innovation, and relentless hard work.  (more…)

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Entrepreneurs

9 Ways Augmented Reality Gives Your Business a Competitive Edge

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success

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augmented reality in business

Leveraging Augmented Reality for Business Advancement: Exploring Applications

In the ever-evolving landscape of business innovation, Augmented Reality in business emerges as a transformative force, reshaping traditional paradigms and unlocking new opportunities for growth and advancement.

Through a comprehensive examination of AR’s capabilities, applications, and business benefits, this article serves as a roadmap for enterprises seeking to harness the full potential of augmented reality to propel their success in the digital age.

UNI.Agency as a forefront developmental agency tailors unmatched digital products and immersive experiences. They help companies outperform their competitors and customers’ expectations. And now, there is time to delve deep into the AR realm.

Gaining Insight into Augmented Reality

From revolutionizing customer experiences to optimizing operational efficiency, AR in retail is poised to drive significant advancements in how businesses operate and engage with their stakeholders.

Augmented Reality (AR) seamlessly integrates digital information and virtual objects into the real-world environment, offering users an immersive and interactive experience through devices like smartphones or AR glasses.

It revolutionizes various industries, from entertainment to healthcare, by enhancing perception and creating innovative opportunities for engagement and exploration in the digital era. AR not only enriches our understanding of reality but also opens up new possibilities for creativity, communication, and problem-solving, making it a powerful tool for businesses seeking to enhance customer experiences and streamline operations in an increasingly digital world.

Differentiating Augmented Reality and Virtual Reality

Augmented Reality (AR) overlays digital elements onto the real world, enhancing the user’s perception of their environment. Virtual Reality (VR), however, immerses users in entirely virtual environments, blocking out the real world. There are some core differences between these two technologies in gear and display approaches:

  • AR enriches reality with digital information, while VR creates entirely immersive virtual experiences.
  • AR typically requires less specialized hardware, like smartphones or AR glasses, while VR often involves dedicated headsets.
  • AR is commonly used for enhancing real-world experiences, such as in gaming, retail, and navigation, encouraging augmented reality shopping. Whereas VR is primarily employed for immersive simulations, training, and entertainment in fully virtual environments.

The Influence of AR on the Customer Experience Journey

As of 2024, Augmented Reality (AR) has evolved into an indispensable tool across various sectors, offering immersive and interactive experiences that seamlessly blend digital elements with the real world.

Stimulating Interest

Augmented Reality (AR) captivates customers by offering visually engaging experiences that spark curiosity and intrigue, enticing them to explore products or services further.

AR’s ability to overlay digital content onto the real world creates an immersive and attention-grabbing experience, drawing customers in and igniting their interest.

Educating and Empowering Users

AR in business empowers users by providing interactive and informative experiences that educate them about products, services, or concepts in a visually compelling manner.

Through AR, customers can interact with virtual models, animations, or informational overlays, gaining a deeper understanding of the features, benefits, or use cases of the offerings.

Exploring Further Depths

AR encourages customers to delve deeper into products or services by offering immersive and interactive experiences that go beyond traditional marketing materials.

By allowing users to explore virtual representations of products in real-world contexts, AR in retail provides a unique opportunity for customers to visualize how offerings fit into their lives, fostering deeper engagement and understanding.

Business Benefits of Augmented Reality

Businesses utilize AR for diverse applications, including product visualization, virtual try-ons, and enhanced customer engagement. In education, AR transforms learning experiences by providing interactive simulations and visualizations.

Additionally, AR has become integral to industries such as healthcare, where it facilitates surgical training and patient education. With advancements in AR technology and widespread adoption, it continues to shape how we perceive and interact with our environment, ushering in a new era of innovation and connectivity.

Let’s look at why AR has become so indispensable as a business tool nowadays.

Revolutionizing Training Methods

AR in business transforms training by offering immersive, interactive simulations that replicate real-world scenarios, enhancing employee learning and skill development.

It’s lucrative for hands-on training experiences. Since there’s no need for physical equipment or environments, reducing costs and logistical constraints while improving knowledge retention and performance.

Boosting Productivity Levels

Augmented Reality in business boosts productivity by providing real-time access to information and guidance, allowing employees to complete tasks more efficiently and accurately.

Through AR-powered tools and applications, workers can streamline workflows, troubleshoot issues, and collaborate effectively, resulting in increased output and operational efficiency.

Implementing Dynamic Marketing Approaches

AR enables businesses to implement dynamic marketing strategies that captivate and engage audiences in unique ways.

By integrating AR into marketing campaigns, companies can create interactive experiences that drive brand awareness, customer engagement, and sales conversions, setting themselves apart in a crowded marketplace.

Fostering Product Development

Augmented reality and marketing foster innovation in product development by facilitating virtual prototyping, design iterations, and collaborative decision-making.

With AR, teams can visualize and test product concepts in 3D, gather feedback from stakeholders, and make informed design decisions faster, leading to faster time-to-market and more successful product launches.

Creating Tailored Customer Experiences

AR creates personalized customer experiences by allowing users to interact with products and services in customized ways.

Through AR-enhanced applications and experiences, businesses can tailor content, recommendations, and promotions to individual preferences and behaviors, enhancing customer satisfaction and loyalty.

Amplifying Brand Recognition

Augmented Reality shopping amplifies brand recognition by providing memorable and shareable experiences that leave a lasting impression on customers.

By incorporating AR into branding initiatives, companies can create immersive brand experiences that spark conversations, increase social media engagement, and strengthen brand loyalty, ultimately driving business growth and success.

Final Thoughts

In conclusion, Augmented Reality in business stands as a transformative force, offering a multitude of benefits across various aspects of operations. From revolutionizing training methods to boosting productivity levels, AR empowers businesses to thrive in an increasingly competitive environment.

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success, while delivering immersive and engaging experiences that resonate with customers and stakeholders alike.

As AR continues to evolve and integrate into everyday business practices, Uni will incorporate the best practices to promote business advancement and drive meaningful change for the clients. We’re to shape the future of commerce to your benefit.

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