If your goal is to become financially independent and live a life of abundance and you don’t want to commit to the financial burden that a degree carries in order to get a high-level job, then your best bet is to become an entrepreneur.

What is an entrepreneur?

An entrepreneur is someone that will add value to the world and get paid for doing so. This could be in the form of businesses that sell a product or service. Of course, starting a business contains risks but is far more likely to pay a lot more than a traditional job.

Whilst speaking with Swedish entrepreneur Nicholas farago, CEO of Farago Motors, he quoted: “entrepreneurism can be tough if you don’t have a plan, but the easiest way to start a business is to follow and recreate a business model that has already proven to work!”

Nicholas has helped us to put together a list of 3 tips to help aspiring entrepreneurs build their first business.

  1. Find a gap in the market.

New business models are being created every day but lots of them lack creativity and a point of difference from their competitors.

Finding different ways of doing what is already in circulation is the key to a successful business. Finding something within the market that is undervalued is considered a gap in the market and can be your business’s point of difference.

  • Do your research to create a killer marketing plan.

Once you’ve found your gap in the market you need to figure out how to market this gap to make it take off!

Start by googling every one of your competitors and learn what they’re doing that is working for them. You can find this information on their website, social media and press releases.

“Once you have this information you can then start to create marketing material around their content and adding your businesses’ points of difference”. Nicholas quoted.

  • Get good at sales!

Let’s face it, a business’s main goal is to sell their product or service and sales is the main skill all entrepreneurs should master in order to become a success!

If you can figure out how to sell your product or service then the rest is all easily learnable.

In summary, if you’re wanting to become an entrepreneur then you need to start with the basic laws of business.

You can follow Nicholas on Instagram and catch up with him to learn more about how you can create a successful working environment.

Topics #Aspiring Entrepreneurs #Farago Motors #Nicholas farago