5 Key Steps to Becoming a Successful Micropreneur

If you’re reading this, there’s a good chance that you are running a business with less than five employees. Or perhaps you don’t have any employees. Do you have to wear multiple hats for managing all the tasks and business activities including marketing, payroll, meetings, and budgeting? If yes, you can consider yourself a Micropreneur. Micropreneurship is a new trend in the business world. While the term may be new, the concept is not. Individuals have been starting and running small businesses for centuries.  What is different today is that technology has empowered micropreneurs to reach a global audience with relatively little capital and few resources. And, as the world gets flatter and more competitive, micropreneurship is becoming a preferred alternative to working for someone else. So, more and more young professionals are eschewing the age-old corporate ‘ladder’ in favor of entrepreneurship. The reason? Freedom and flexibility. However, running a microbusiness is not without risks. In order to be successful, some key steps need to be taken.  That being said, here are five essential steps to becoming a successful Micropreneur. Expand Your Own Skill Set  When starting a microbusiness, it can be tough to get everything done because of a lack of knowledge, equipment, or software. In order to be successful in the long run, it’s important to invest in all of these. Make sure to also invest in additional training and education so you can expand your skillset. Don’t think of this as an expense – consider it an investment in your venture and yourself. Create a Business Model and Financial Plan  Creating a business