Business Tips for New Entrepreneurs in 2021

Build like the Romans 

The Colosseum is 1949 years old. And for the most part it’s still fairly intact. The material it was built with was stronger than any concrete we use today. It’s beauty is so captivating that millions have flocked to Italy just to look at it in all its glory.

Choose the right niche

The selection of the niche is where people often realize they’ve made a mistake. If you go too broad with a general business, you might struggle to know who your audience is. If you’re too specific with a barre class socks store, you might find your niche is too narrow.

Solve a burning problem

An important business tip for new entrepreneurs is to create a business that solves a problem. If you asked most failed business owners what problem they solved, they either can’t answer or the problem they solved wasn’t urgent enough.

Focus on profit instead of revenue

Most entrepreneurs are obsessed with revenue. “I made $900,000 in eight months,” they claim. And you can’t help but ask, “Did you really though?” Because digging deeper, you’ll often find that profit is much more important than revenue.

Focus on employee morale

The best boss I’ve ever had once told me that her secret to building a productive team centered around making her employees happy. And it was true. We celebrated something all the time.