By: Cindy Morand
Credibility is extremely important to the success of any entrepreneur. Individuals do business with people they trust and believe in. So how can a young entrepreneur gain the respect and credibility from customers and future investors?
1. Become an Expert of the Product or Service You are Selling
It is of extreme importance to obtain training in order to improve the goods and services you offer so that customers begin to trust you and ultimately choose your product. Analyzing trends in the market, learning more about your product, and attending workshops/informational events about your industry are ways in which to accomplish this goal.
2. Have Strong Communication Skills
The ability to communicate with clients is crucial when it comes to building trust and establishing a good rapport. Therefore, a client's concerns, suggestions, and e-mails should be replied to in a professional and promptly manner. In addition, one can take business writing classes to improve the messages conveyed in proposals, business plans and when marketing new ideas to clients.
3. Obtain Professional Experience
Being young, in the minds of adults, can be interpreted as having a lack of professional experience. And so, it is strongly suggested that you obtain an internship or position in an organization that allows you to display your leadership abilities and that exposes you to working in a team environment. In addition, an internship is the perfect way to learn first-hand how a business is conducted. Moreover, a leadership position in an organization may allow you to create ideas and to gain experience implementing them.
4. Pursue Higher Education
While a college degree is not required for an entrepreneur, it is strongly recommended that one attends college, as individuals will be more likely to trust you and your training in your chosen field. While in college, an entrepreneur can explore various subjects, careers, paths, and participate in student organizations. Therefore, investors and clients are more likely to trust someone well educated.
It is always important to show your customers that you are ahead of the trends, innovating, coming up with new ideas, and researching ways to improve your products and services. Most importantly, when you innovate, the passion you possess for your business becomes so evident that people start believing in your mission.
A young entrepreneur can gain the trust and respect from investors and clients as long as their credibility is high and they continue to improve their product or service.
Cindy Morand participated in the NFTE Biz Camp program at New York University. While pursuing her entrepreneurial aspirations, she was published in the book, Red: The Next Generation of American Writers. Her banking career includes work experience and internships with the Federal Reserve Bank of New York, CNBC, Bank of America Merrill Lynch and CIT Group. She graduated from the University at Buffalo with honors.