Kye Giscombe: Top 5 Tips for Young Entrepreneurs

For many new graduates, starting your own business is the ultimate professional objective. A few challenges will stand in the way, but don’t let that discourage you! According to a study by Small Business Trends, 82% of prosperous business owners said they had the training and expertise needed to manage their enterprise.

Even with a simple online search for “how to become an entrepreneur?” which can provide hundreds of results, it can be challenging to find the most pertinent knowledge and guidance. 

Here are five tips to help make your transition from a graduate to an entrepreneur smoother:

  1. Provide Solutions, Not Products 

Many individuals start businesses with the intention of starting another firm, but these enterprises need help to make a steady profit and achieve long-term success. Take any organization as an example. What would occur if they disappeared?

Successful businesses provide goods or services, but they do so in the context of providing answers to issues we confront. Consider a novel solution to the problems in your immediate environment and work from there to tackle issues in your community.

  1. Build A Strong Network

Recognize the value and experience that everyone, from your lecturers to your peers, can provide you and your future company.  

Make the most of networking opportunities during your degree, including coffee-break catch-ups, industry speakers, internships, and networking events. It’s only sometimes necessary to do it in a business environment; simply getting to know your peers personally might develop into a productive connection. 

The key to success is surrounding oneself with a group of people that share your commitment, professionalism, and desire.

  1. Love What You Do

Don’t love it? Don’t do it. If you establish a business just for financial gain and detest working on what you are attempting to build, the odds are good that you won’t continue working on it for very long. Find something you enjoy, and work won’t feel like work any longer. Yes, you will discover something in every project or position that you do not like, but for intelligent young entrepreneurs, this is not the case.

While there will always be days when work can be challenging to get through, the wonderful thing about starting your own business is that you can do it your way. You will embrace the obstacles you confront and take satisfaction in overcoming them.

  1. Learn How To Use The Media Properly

The media, especially social media, may help you advertise your brand, but you must know how to use them effectively. The amount of space in newspapers that may be used to promote companies that cannot generate cash through advertising is steadily decreasing. However, business editors may be interested in your company if it has a unique selling proposition or USP. Carefully craft your press releases, and avoid using “stunts” because they could backfire and harm your brand’s reputation. 

Radio and television still provide chances for promotion, but your business needs to have a USP and a story hook. Amid a recession, are you launching a company that employs local labor or produce? Such stories are the mainstay of local media, especially radio and television. The purpose of media releases should be more than just self-promotion.

Social media is an effective way to spread awareness, but it must be utilized carefully. Twitter may help or hurt small companies. Be interactive with your audience; refrain from broadcasting nonstop. This will lose support.

  1. Know When to Relax

While working hard is vital to success, it’s important to recognize when you are working too much. People frequently patronize young companies because of their youthful aspect, characterized by vigor and enthusiasm for what they are learning. However, if you are not well-rested and in a good mindset, that enthusiasm and excitement might fade away quickly. This is not to suggest that you should be lazy, but rather that you should be aware of your limits and embrace a healthy work-life balance to ensure continued success.

About Kye Giscombe

Outstanding management skills, an innovative mind, and an entrepreneurial spirit have propelled Kye Giscombe to top positions in various business sectors, including law, real estate, construction, fitness, and retail manufacturing and operations. His career reflects nearly 20 years of executive-level management, marketing, business analysis, and investing experience, serving as a key decision-maker in existing corporate, start-up, entrepreneurial, and expansion environments.

Among the several successful companies he created over the past two decades are Cosmo Horizon Inc., a commercial construction management firm, and Contact Sports NYC, a sports apparel manufacturer. Giscombe attributes Contact Sports NYC’s success to collaboration with colleagues Frank Drohan and Irving Brothman, a top executive at Burlington Coat Factory.

Giscombe attributes his business success to his ability to analyze the viability of project ideas, design products and services that appeal to new growth niches, develop creative strategies to achieve goals, and implement processes that produce significant profitability and a loyal customer base. He relishes the challenge of creating new entrepreneurial enterprises and finds inspiration in planning projects he’s passionate about.

A resident of Alpharetta, Georgia, Kye Giscombe enjoys motorcycles, tennis, working out, reading, and traveling when he’s not concentrating on business.

Harris Hassan

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