4 Things You Must Do Before Becoming a Full-Fledged B2B Entrepreneur
Essential Steps Before Embracing B2B Entrepreneurship
Since founding PT. AVERI SOLUSINDO AGRIBISNIS in the field of biomass energy, it hasn’t been an easy journey, going from an intern to an employee, experiencing unemployment, freelancing, to eventually becoming a full-fledged B2B entrepreneur in Jakarta.
There have been phases of rejection by customers, receiving no feedback, struggling to meet demands, and facing challenges in completing purchase orders due to supplier and financial constraints, all while living below the minimum wage.
It would be a lie to say that I’ve never faced moments where my determination was at 100%, but my finances were in the negative. It would also be a lie to pretend that everything was fine because every goal comes with its own set of obstacles.
This article elaborates on four essential facts that must be fulfilled before becoming a 100% entrepreneur in 2023:
1. Integrity Control
Definition of Integrity Control:
In business, it refers to a set of steps, policies, and procedures designed to ensure that data and information used in business activities remain accurate, consistent, and trustworthy. Its purpose is to prevent, detect, and address errors, discrepancies, or unauthorized actions that may disrupt data integrity.
My mistake was a lack of relevance in the data I possessed and an inability to control everything from A to Z, which resulted in disputes in several projects.
a. Business Transparency: Integrity in business includes transparency in all operational aspects. Ensure that every business action and decision is based on strong ethical and moral values.
b. Legal Compliance: Ensure that your business always operates in accordance with applicable laws. This includes understanding your industry’s regulations and ensuring compliance with them.
c. Personal Accountability: As a business owner, be prepared to take responsibility for every action and decision made within the company. Your integrity reflects the integrity of your business.
2. Capital Without Investors
a. Bootstrapping: Starting with your own capital (bootstrapping) allows you to control the business without external investor interference. It also teaches you to manage resources efficiently.
b. Equity Control: Without initial investors, you will have full control over your company’s shares. This can provide flexibility in making strategic decisions.
c. Testing Concepts: Starting without investors allows you to focus more on developing and testing your business concept without the pressure to generate instant profits.
3. A Resilient Team with Shared Values
When building a team for your B2B business, prioritize quality over quantity. Having a resilient team that shares your values is crucial. Look for individuals whose values align with your company’s vision and mission. They should have strong technical skills, a commitment to mutual growth, and the ability to adapt quickly to changes in the business environment. A team that genuinely embraces the same values will be a solid foundation for long-term success.
a. Effective Communication: Having a team that shares the same values makes communication and effective collaboration easier. This is a critical factor in achieving long-term success.
b. Quality Over Quantity: It’s better to have a small, high-quality team than a large one that doesn’t share your business’s values.
c. Skill Development: Continuously training your team to develop their skills is a valuable investment. A team that grows alongside your business has great potential for success.
4. Connection with a Higher Power
In the competitive and high-pressure business world, it’s important to connect with a source of greater strength than yourself. Understanding that there’s a greater power beyond your business goals namely, the will of a higher power can provide deeper insight and meaning to your entrepreneurial journey. It’s not just about seeking profits but also about running your business with ethics, integrity, and kindness. Prayer, reflection, and spirituality can be essential parts of your journey as a B2B entrepreneur.
a. Spiritual Awareness: Considering the spiritual aspects of business helps you stay true to ethical and moral principles. It can also provide peace of mind when facing challenges.
b. Prayer and Meditation: Taking time for prayer and contemplation are crucial moments to reflect on your business goals and seek guidance in decision-making.
c. Social Compassion: Having social awareness and kindness in business can create a positive impact on society, aligning with spiritual values.
Conclusion
It’s important to remember that the journey to becoming a successful B2B entrepreneur is a long and challenging process. But with strong integrity, financial control, a value-driven team, and a spiritual connection, you can build a sustainable and meaningful business.
In the dynamic business world, developing integrity, managing capital wisely, building a strong values-based team, and connecting with spiritual values are essential factors that will help you become a successful and sustainable B2B entrepreneur. All of these elements work together to form a solid foundation for your business, overcome challenges, and achieve your goals.
