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Are You an Entrepreneur? The Answer Might Surprise You!

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entrepreneurship

They don’t wait to be told what to do, or for conditions to be perfect, or to be handed the resources they need on a platter.  In the spirit of a famous slogan, they just go out and do it. End of story. Sounds simple, right? But it’s not an easy process by any means.

It’s this kind of spirit that sees success as inevitable after hundreds of failures, rejections and setbacks. It’s this kind of spirit that enables the entrepreneur to pick themselves up off the floor, dust themselves off, and start all over again, even where the outcome is uncertain. It’s this kind of spirit that can hold a dream in perfect suspension in the imagination, believing in it even in the face of all odds, until the day it’s there in solid reality.

And the best part? You don’t even have to be building your own business to have entrepreneurial spirit.  You can be working to transform a business – someone else’s business, or even the ‘business’ of a non-profit, university or government. This is called being an intrepreneur.

Admittedly this can be extremely challenging. You often won’t have control over all the resources you need. However, don’t forget our definition! Entrepreneurs progress with determination towards their goals despite not having the resources under their control. That’s the entrepreneurial way.

Yes, the entrepreneurial spirit is legendary.  We know how to recognize it when we see it, but how do we build it? What character traits, skills and attributes should we work to develop if we wish to increase it?

Here are the 7 key skills of entrepreneurs:

Opinion varies as to the core set of skills that an entrepreneur requires. However, the ones we’ve shown below are a selection of the most popular from a variety of authority thought leaders on the subject from across the web.

1. Resilience

Remember those failures and setbacks we talked about earlier? The key trait an entrepreneur needs to get through hard times such as these is the ability to weather the storm.

“No matter how much falls on us, we keep plowing ahead. That’s the only way to keep the roads clear.” – Greg Kincaid

2. Courage

It takes a lot of bravery to stand out from the crowd and to put yourself out there in the kind of way that’s necessary to build a business from the ground up.

3. Communication

You might have the best business plan in the world, but if you can’t communicate its key messages to others effectively, that’s exactly what it will remain … a plan. Communication is a much under-rated skill, but highly essential in the world of entrepreneurship.

4. Continuous Learning

As an entrepreneur, you are often a one man – or woman – band. That means a steep and rapid learning curve in all those areas you may be lacking. But the learning doesn’t stop there! Growth will bring new challenges and new learning opportunities when it comes. Having a positive attitude towards learning new things will hold you in a good position when you encounter new challenges… which will be often!

5. Curiosity

It may well have killed the cat, but curiosity is often the spark that gets entrepreneurial efforts underway in the first place. Wonderment about the world, and about how it could be different, encourages many budding entrepreneurs to go out and seek their own solutions, often for the benefit of many others.

“The important thing is not to stop questioning. Curiosity has its own reason for existing.” – Albert Einstein

6. Accountability

The ability to stand up and take responsibility for your actions, even in the face of failure, will stand you in good stead in the world of business. As we’ve often heard before, people do business with people they know, like and trust, and some integrity and a firm handshake will go a long way in the entrepreneurial world.

7. Empathy

It’s often called a ‘soft skill’, but the truth is that there is nothing lesser about having empathy for others. Great business leaders run customer-centric businesses, putting customer needs at the heart of their every business transaction. In order to do this, as a leader you need to be able to put yourself in the customer’s shoes. In other words, to develop a sense of empathy for who they are and what they need.

Think you’ve got what it takes? Then you’re probably raging to get started, if you haven’t gotten started already. For those who are considering dipping their toes in the ocean of entrepreneurship, there’s a wealth of information out there on the Internet. It’s sometimes all a little hard to sift through though, so we’ve done the hard work for you, bringing you the highlights in our favourite top 3 tips, shown below:

  • Diversify your income stream – This is not the time to put all your eggs in one basket. Try and spread your risk across a couple of income streams in order to stay afloat when tough times hit.
  • Network – It’s not what you know, it’s who you know, and this is especially true in the world of business. Just know that it doesn’t have to be all about throwing your business cards around like confetti. Try and use every opportunity to make a meaningful connection with someone new.
  • Be prepared for hard work – The first few years are often a slog, and for many, sometimes even the years after that. Very few businesses are overnight sensations. Be prepared to work extremely hard and cultivate a sense of patience… you’ll need it!
Have you ventured into the entrepreneurship world? Please leave your thoughts below!

Parker Davis is the CEO of Nexa, a leader in the virtual receptionist and technology-enabled answering services industry. He believes that the application of data analytics, investment in technology, and fostering a positive company culture together create highly efficient and scalable growth companies. In 2016, Nexa achieved record revenues while also being awarded the Top Companies to Work For in Arizona award. Parker is also the Managing Partner of Annison Capital Partners, LLC, a private investment partnership. Follow him @callnexa and on Facebook and LinkedIn.

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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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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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