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Global Entrepreneurship Week: What Young Entrepreneurs can Learn

Himanshu Pal

It’s the 10th anniversary of Global Entrepreneurship Week (November 13 – November 19). This is a mega-celebration of startup owners and innovators across the globe, who will come together to participate in over 35,000 events in 165 countries. Exciting! Isn’t it?However, the event is not about social gathering and building links alone. There’s a lot of things that young entrepreneurs can learn from here. You just need to keep your mind open and be willing to adopt new things.Here are the key lessons young businessmen can take away from the Global Entrepreneurship Week:

1. Be Open to Change

While all entrepreneurs have a common dream, i.e. to establish their brand in the market and make it popular, they try different ways to achieve it. Some do careful planning, while some employ the unique strategy. You might’ve also planned something unique for your brand.The fact is that you can benefit your business the most by accepting and adopting new technologies. Don’t scare from change. Instead, accept it with open arms.

2. Keep Yourself Updated

There is one basic formula for success in a business, i.e. keep yourself up-to-date with the latest trends. Otherwise, you’ll just fade into anonymity.

3. Not Competition but Collaboration that will Help You Last Longer

Competing with other may benefit you for a short interval and help you crack a few deals. However, it doesn’t work out in the long run. For this, you’ve to pledge alliance with those who are powerful and make new contacts.Entrepreneurship is a dangerous forest. You can wander here being a lone wolf. In order to survive, you’ve to be part of a pack.

4. Know the Market before You Do Business there

In entrepreneurship, nothing is more risky than launching your product in a market without doing proper research. As per our app developers in Singapore, the need for studying the market beforehand is a must! If ignored, then it can have a bad impact on your business and put your investment at risk.Having said that, it’s important to do proper R&D before launching your product in the market. Sooner you learn this, better will be the result.

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