Global Entrepreneurship Monitor found that nearly 14% of working-age Americans are starting or actively managing a new business. This data reflects companies with paid employees, as well as a growing number of solopreneurs and freelancers. With so many people enthusiastically diving into the business world, you might be wondering how to create your own small startup. For those who already own a business, maintaining a competitive edge is also important. Whether you've been self-employed for years or just starting out, here are seven valuable insights from American entrepreneurs who know what it takes to succeed. 1. Find a mentor 7 Pieces of Insight from American Entrepreneurs | SEJ One of the most important things to remember as a business owner is that there is always room for improvement.
To adhere to this principle, you must be willing to learn. Therefore, many entrepreneurs recommend finding a mentor, someone who can be trusted as an honest and supportive critic throughout your career. It's that simple - learn from ghost mannequin effect service those who came before you. Follow instructions with gratitude, especially when they come from someone with experience. Advertising Continue reading below If you're having trouble finding a mentor, you can also seek out top entrepreneurs in your field to familiarize yourself with the competition. For example, Tim McMullen, founder of Redpepper, says he used to find 10 of the smartest people in his industry and study them closely. In fact, this personal focus on growth and creative coaching has become the foundation of Redpepper's brand philosophy, an approach that has earned him contracts with clients like Coca-Cola and Claire's.
Share opportunities Another important tip is to share exciting opportunities with your colleagues. Do you know someone who is good at marketing and promotions? Ask them for help with an upcoming campaign. Do you frequently collaborate with others to complete high profile projects? Consider hiring an intern or consultant to help you with various tasks. Even if you prefer to tackle challenges on your own, remember that working together can yield extraordinary results. John Stonecipher, president of Guidance Aviation, suggests partnering with people who are passionate about what they do. When selecting faculty for his flight school in Arizona, he surrounds himself with individuals who already possess the skills of a leader. What started as a one-man operation is now a flight training academy where Stonecipher can confidently delegate responsibility.