IN today’s economy, a decision to become an entrepreneur may seem like life’s greatest risk. And if not managed properly, it can end with poor results. However, before you throw in the towel without even first picking it up, conceptualiser of the hit, and Jamaica’s first and only business reality television show The Innovators, Yaneek Page, has 10 top tips to share with budding business owners to be used as a guide to successfully achieving entrepreneurial dreams.

Each week on this recently concluded third season of The Innovators, Page, fellow Innovator Gary Matalon and a guest shared insightful and practical real-life solutions to help persons take their businesses to the next level. The show taught the main participants — called The Assignments — the essentials of entrepreneurship, how to identify and grasp opportunities for growth and, most importantly, how to make more money.

Page’s tips are by no means exhaustive, but represent a good first step to help take your ideas from conception to the bank.

Outline a vision

“If you don’t know where you’re going, then any road will take you there,” paraphrases the Cheshire cat from Alice in Wonderland. The same applies to your business idea. Have a clear-cut vision of where you see yourself and your idea going.

Create a plan

Think of your plan as the roadmap to your final destination. You already outlined the destination when you decided on your vision, now you need the best route to get there.

Hire the best team

The only way to ensure that your business flourishes is by surrounding yourself with the best people in your field. By hiring people who are passionate about the work they do and are as committed to delivering excellence as you are, you are ensuring your business’s sustainability.

Expand your business network

Networking is a major and important part of taking your business to the next level. Seek out people you would genuinely like to meet and learn from and build a relationship with them. Nowadays this can be done through face-to-face business mingle sessions or via social media through channels such as LinkedIn.

Listen to the market

It is vital that you pay attention to what the market has to say. Follow the trends, give their ideas consideration and listen to feedback. There is always something to learn.

Innovate, innovate, innovate

Kaizen, the Japanese philosophy for continuous improvement, is a good one to adopt when it comes to your business. In today’s world where everyone is searching for the next big thing, in order to keep your business relevant innovation is critical.

Respond to changing environment

Change is inevitable and if you do not prepare for it then you will get left behind. The market can sense when things are changing and their desires will change with it. Respond accordingly and your business will remain on top.

Exploit online marketing opportunities

Online marketing makes promoting your business easier than ever. Marketing online provides access to potential clients that would never have been available before, so take advantage of that and ensure your brand has a strong online presence in the virtual economy.

Build a brand and deliver excellent service

A good idea or product will bring in initial customers. Build your brand and consistently deliver excellent service to ensure that you keep them coming back and spreading the good word.

Look outside Jamaica for new market opportunities

If your business is to continue growing you need to look for further opportunities. Jamaica should not be the start and stop of your business plans. Look overseas for other potential market opportunities and chances for expansion.