Rachael Rowden Provides Tips for Young Entrepreneurs

 

Rachael Rowden of Fulton, Missouri is the proud owner of three different companies. From an early age, Rachael Rowden knew that she wanted to be her own boss and chart out on a path of success. This path would allow her to work for the rest of her life in an environment that she loved.

The first bit of advice Rachael Rowden gives aspiring entrepreneurs is that they must find out what they are passionate about before launching a business. If a person isn’t willing to put their heart and soul into a business launch, they are going to have an extremely difficult time succeeding for the long haul.

One of the reasons Rachael Rowden enjoys giving advice to young entrepreneurs is she knows first-hand how important a mentor is in the maturation process of a young businessperson. It’s extremely difficult to get a business off the ground when you are just starting out and having someone with years of experience who has faced difficulties and overcome them is invaluable. Every aspiring entrepreneur should ensure they have someone they can go to in times of need for counsel.

Of course, a mentorship should be just another step in a long educational process. People must take their education extremely seriously in order to be successful. The best businesses require so much more than an innovative product or service offering, they require competency in operations, manufacturing, finances and more. While some thing can only be learned on the job, there are plenty of other things that will only make sense to those that went to school and learned the basics. It’s not enough to lead the creative side of a business, an owner must be able to balance the business side as well.

The number one reason businesses fail, according to Rachael Rowden, is a failure to understand the needs of their intended customer. To see if a business is worth launching, there must be an extensive research process that determines things like the proper price point for products, where the majority of marketing for the product or service should take place, and whether or not people need the product. There’s a big difference between filling a need and filling a want. There should be as few surprised as possible when launching a business. Taking the time to do the research can make all the difference.