Posted November 2022
Step 1: Decide if entrepreneurship is right for you
The idea of being self-employed may seem like a dream come true for some, but if you’re seriously considering the idea of working for yourself, you need to make sure you know what you’re getting yourself into. Jeanne Yocum (COM’78), author of The Self-Employment Survival Guide, breaks down exactly what it takes to become self-employed, and the mindset you need in order to succeed. After all, if you’re interested in owning a business one day, it’s important that you take into account the good, the bad, and the ugly.
Step 2: Learn from others
When it comes to starting your own business, sometimes all you need to do is improve a product that already exists rather than invent a new one. Julie Ganong (COM’89) and her husband did just that by improving upon the beloved whoopie pie. Follow Julie’s story as she discusses the challenges and successes of becoming an “accidental entrepreneur.” As you start to embark on your self-employment journey, don’t be afraid to draw inspiration from Terriers that have gone before you. What sets your product or service apart will be your ability to confidently move forward with your vision and personal brand.
Step 3: Study the basics of legal contracts
Have you ever struggled to navigate professional or financial contracts? You aren’t the only one—the legal aspects of owning a business can be daunting for many. Learn from alumnus Callan Stein (LAW’07) as he breaks down the basics of contracts, negotiation, and how to draft your own to ensure you are as informed and prepared as possible.
Step 4: Create a marketing plan
If you plan on starting your own business, a marketing plan is necessary. Marketing and PR expert Robin Samora (COM’77) talks about industry trends, target markets, branding, and more in this comprehensive guide to building a successful marketing plan.
Step 5: Use social media to develop a personal brand
When building your personal brand, social media plays an important role in gaining exposure. Alumna and social media expert Kris Ruby (COM’09) will teach you the top five ways to leverage social media to stand out from the rest of the crowd. And when you’re developing a social media strategy, don’t forget to consider the benefits of video marketing.
Step 6: Leverage your BU alumni network
Wherever you are in your entrepreneurship journey, networking can help you get to the next level. If you’re looking to gain more information, break into your desired industry, create partnerships, or simply build community—look no further than BU Connects. Joining the BU Connects digital community of over 19,000 alumni, students, faculty, and staff gives you access to exceptional resources and career opportunities. In this webinar, Jeff Murphy (Questrom’06) details the benefits of BU Connects and the ways it can help launch your career.
For more information on building your brand and entrepreneurship tips, view more of these webinars here.