How to Be a Successful Entrepreneur in 2019

20 years ago, when The Cluetrain Manifesto was published, it highlighted how technology was about to change the way we find and consume information and how we communicate with one another. The authors urged that businesses should “get a clue.”

Technology has indeed revolutionized the world and changed the way we do business. And it’s still changing. There are new technologies impacting business in 2019, and the path to success as an entrepreneur is to embrace the ones that make sense for your venture.

New Funding Sources

Over recent years, loans from entities other than banks have grown significantly. With rejection rates estimated at 80 percent for small business loans, it’s no wonder that Americans are looking elsewhere for their funds.

Having capital to get your business growing is essential. and there are now more ways to access funds than just asking a bank for a loan. [2] Research shows that 39 percent of small business owners are not even aware of alternative financing as yet. That is set to grow.

Subscription Services

Another area of growth that we will see in 2019 is subscription services. The subscription product market has grown by almost 900 percent since 2014. Experts say that the leadership on the market is not fixed and in flux, so there are a lot of opportunities to explore in this area. Providing curated experiences monthly is making people sit up and take notice. Coming up with the next big thing could see explosive growth over a very short period.

Being a successful entrepreneur isn’t just coming up with a great idea. It might be looking for an opportunity or coming up with a better way of doing something.

Personalization

Working out where you can provide value in 2019 is a key to becoming successful. It seems that 80 percent of consumers are more likely to buy something or pay for a service if that service or product is personalized in some way.

Giving out a mobile coupon or some extra way of making sure your customer feels listened to and cared for, will translate into business and ultimately return custom and positive word-of-mouth.

Making sure your business you have worked so hard to get up and running keeps thriving, means you should start looking at some kind of personalization.

 

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