Entrepreneurship: GD Rectifiers Top 10 Tips to Success

Today, Managing Director of GD Rectifiers, Paul Bentley discusses what is takes to be an entrepreneur and shares his top tips with the younger generation.

GD Rectifiers are the UK’s leading distributor of power electronic components. They distribute a wide range of semiconductors for some of the world’s leading engineering and technology companies. GD Rectifiers also manufacture a wide range of power assemblies, heatsinks, high voltage diodes and selenium rectifiers and suppressors.
GD Rectifiers play a major role in the launch of new technologies, machines and transport strategies by supplying a wide range of standard semiconductor components and custom designed power assemblies, heatsinks, high voltage diodes and selenium rectifiers and suppressors.

What Does It Take to Become an Entrepreneur?

Becoming an entrepreneur takes a lot of hard work and persistence. Success doesn’t happen overnight, it takes months, even years to grow a start-up business. Be prepared to face challenges daily, be passionate enough about what you’re doing to never give up and remain resilient.

GD Rectifiers Top 10 Tips to Becoming an Entrepreneur

1) Be passionate about what you do
To start a business, you need to really love what you do. You need to research the market and be sure that what you’re proposing is new, exciting and can be a success, otherwise your passion is just a hobby.

2) Be confident
Be confident in what you’re about to do and within yourself. People around you will doubt your decision to start up your own business, they’ll tell you about the dangers and might try and put you off your venture. Be confident in yourself and in your ideas, prove to your family, friends and colleagues that you made the right decision.

3) Be cautious
Starting your own business is a big opportunity, but with opportunity comes risk. Be prepared to make financial and lifestyle sacrifices to increase the potential success of your business. Make sure you have a clear and concise business plan and be sure to follow every detail to avoid any nasty surprises.

4) Seek a mentor
Most entrepreneurs have mentors that they can rely on for sound advice, it is important in the early stages of building your business that you have a mentor to turn to, someone who has experienced what you’re going through and who can advice on best practices and solutions to obstacles as well as foreseeing future hurdles. A mentor will boost your confidence and allow your business to grow more seamlessly, and one day you can mentor someone the same way in return.

5) Always react
It is crucial to have a clear business plan in place, however when situations change business owners must be able to adapt quickly and change priorities if required. Many start-ups fall at the first hurdle because they follow strict plans and processes. My advice to the young generation is don’t be afraid to take risks, sometimes you have to follow your gut, make sure you know the consequences ahead of all your decisions. This could be in regards to stocking new products, approaching new markets or new technologies. Be passionate about what you’re doing and be ready to run with an idea.

6) Learn how to self promote
Self promotion is key in business today. No-one can sell your business better than yourself. As painful as they can sometimes be, networking events are crucial to getting your name known. Spend time talking to people about your plans and ideas, give people your time and listen to what they have to say. Networking events are a great way to get feedback on products and can help enforce your decisions. Make sure you have a strong online presence, and remember to nurture existing and new customers. Always engage with your customer base, recommend new products that might be of interest and help them achieve their desired outcome to obtain brand loyalty.

7) Build your empire
Building your initial team is one of the most important elements in starting up your own business. This team needs to share your vision, passion and enthusiasm for what you’re doing. Your team need to represent your business and have the desired skill sets to transform your business from a start-up to an SME (small medium enterprise).

8) Take a step back to build new ideas
Always take time out of the business to reflect on ways you could do things differently. Whilst you’re in the office, living the brand it is often hard to take a step back and assess the business model. Get away from the office for a few days, review the business and brainstorm new ideas and products relevant to your business. Time out gives you the best outlook on your business, the industry and your future plans.

9) Stay ahead of the game
It is hard to stay on top of the market when you’re so busy developing a start-up business, one thing you need to make time for is monitoring your competitors. The market offering and demand can change so quickly, you need to stay ahead. Set up online alerts on competitor brand mentors, monitor their websites and watch their overall movements. Staying one step ahead will give your business the prospect it needs.

10) Stay grounded
The attitude of the founder will set the tone of the business; it can often be what makes or breaks a company. Customers need to like and relate to business owners, they don’t want to do business with someone they wouldn’t want to be friends with. Be sure to make time to nurture customer relationships and provide the best customer service possible, this will differentiate you from your competitors.

For more information on GD Rectifiers products please click here: or contact: 01444 243 452 / enquiries@gdrectifiers.co.uk

GD Rectifiers is a Global Manufacturer and Distributor of products, services and solutions to commercial and industrial users of power electronic components.

Established in 1964, GD Rectifiers has over 50 years of extensive experience across a large range of markets, specialising in new and current technologies for industrial power control applications. An extensive product offering has built GD Rectifiers exceptional reputation as the go-to power specialist with innovative experience across: Aviation, Automotive, Rail, Medical, Industrial and Electronics markets.

GD Rectifiers designs and manufactures Selenium and Silicon Rectifiers, Suppressors, Converters, Inverters, Regulators and all other power products for Industrial power control applications. The company distributes state of the art Diodes, Thyristors, IGBTs and MOSFETs from the world’s leading manufacturers including: IXYS, IXYS UK Westcode, Semikron and EDI.

GD Rectifiers manufacture an extensive range of power components and assemblies. The company also supplies a wide range of Heat Sinks suitable for Power Semiconductors, LED Lighting and similar applications. GD Rectifiers also offer a repair and replacement service for faulty or ageing Semiconductor Rectifiers, Converters, Inverters and Regulators.

Sarah Bentley
GD Rectifiers
Bentley House
2 William Way
Burgess Hill
West Sussex
RH15 9AG

This release was published on openPR.