Colonial traders are named as the most zealous entrepreneurs of all times. They were able to capture their places and establish their own innovations providing trading solution and opportunities for income. There are so many others like these people who have shaped the present environment. There are so many lessons to be learnt and where the colonial traders are concerned and most principles that work today were best modeled through the humble beginnings that later formed the bulk of what the world knows today as innovative entrepreneurship. One thing that seems similar with most of the 19th century traders is the great vision and dedication that brought about wonders and revolution in entrepreneurship.
Even though many strides in entrepreneurship by the people of the 19th century remain undocumented, there are those lessons that have been passed to the new age to inspire. These lesson are well thought of and designed not just in theory but in practice that was best done by the entrepreneurs of the 19th century. This article highlights some of the top things that are still being applied today. It is through the practices that any aspiring entrepreneur can really get to reap the rewards in which many greatly yearn for. They are considered some of the top rules of entrepreneurship and they are shared below.
First, it was all about the finding of a niche. Traders or entrepreneurs of the 19th century were able to create their niche or specific markets in which they would specialize in offering their products and services. It was really about establishing different fields and creating a name in that field. The niche idea has certainly come a long way as more and more entrepreneurs seek to find their niche in a sea of great competition. Traders were able to battle with competition as well. Now, there are so many guides to finding particular niches but at the heart of it is specialisation and dedication to a particular products or service
Entrepreneurs of the 19th century may have operated small but their goals were set high and wide. This is a lesson that many entrepreneurs have to adapt. Being small and thinking big is the way to go because you need to grow first before you can take on bigger challenges. The ancient traders were able to expand as the signs became rife. You need to retain the aspect of thinking big while small because it is your very vision which must surpass what you do currently. The entrepreneurs of the 19th century had the advantage of coming into personal contact with their clients. This led them to explaining the uses of product and services in detail.
Today, entrepreneurs need to reignite this and differentiate their products. Informing customers on the uses and the importance of a product is crucial and today; the methods may have changed due to technology but important nevertheless. That personal feel that was created by the entrepreneurs went along way in safeguarding customers and clients. Quality of product is an aspect that cannot be compromised and this is the bottom line. The 19th century entrepreneurs were able to excel in providing first impressions that could not disappoint. It is no wonder they paved the way and showed us the untold possibilities of entrepreneurship.