Advice For New Entrepreneurs
It takes some grit and gristle---not to mention a serious dose of courage---to leave a nine-to-five job and branch out on your own as an entrepreneur. You'll know you are predestined for such a path if you experience dissatisfaction with a schedule, you dislike taking orders, or you just crave more opportunity and adventure in general.
To be an entrepreneur, you must take a personal inventory of where you are in life and assess what you must do to fulfill your dreams. Suppose you have a burning desire to make the world a better place, to create a massive humanitarian effort, or just to break free from your oppressive cubicle. In that case, you need to know a few things about entrepreneurship that will make your transition smoother. Yes, the ride will be exhilarating and rewarding, but there will also be times when you ask yourself, "why did I choose to make the leap?". Read on to see what you can do to make reaching for your dreams a bit easier.
Tip #1: Be practical and realistic about money
If you are starting a business from the ground up, expect not to make a profit----a significant profit, anyway---the first two years in business. If it happens sooner than that, great. If not, you'll need a plan to cover basic living expenses and business expenses while you're getting established. Thinking about all the cash you're going to make in a few years is not practical; you must get down to the business of keeping meticulous track of revenue vs. expenses and stick with a budget that works.
Tip #2: Realize that a business is a huge time commitment
Starting a business is not a part-time venture---it will take your time, energy, and money. You can forget being able to binge-watch Game Of Thrones on the weekend; your business will now be planning for subsequent weeks of purchasing, operations, and manpower management. If you are starting a business with a family in tow, make sure everyone is on the same page concerning what will be required; a scorned wife who is charged with childcare, a job of her own, and little league practice on the weekends is not likely to be on a business building team for very long if she doesn't understand why these sacrifices are being made. Keep checking in to make sure your team is all working toward the same goal.
Tip #3: Keep your word
Making a commitment---whether it be to family, friends, employees, or vendors---means keeping your word. You need to deliver; your reputation is at stake, and poor decisions could put your entire empire at risk if you are not willing to operate with the highest standards of integrity. If you say you'll pay an invoice, complete the transaction. If you tell customers that you will deliver within the week, then drive it there yourself if you have to. You are building a reputation and a brand with every new relationship forged; take this work very seriously, and your following will grow.
Tip #4: Be willing to take some risks
If you always stay in your comfort zone, you'll never grow and expand to the extent that you are capable of. There might be a few more failures along the way, but an optimistic view helps reframe failure as an opportunity for growth. Nothing ventured, nothing gained.
Tip #5: Learn something new every day
Entrepreneurial pursuits are about solving problems and learning as you go. Embrace learning as an exciting activity; you will grow and expand to the extent that you can learn and grow. It's all part of the gift of growth. Read, attend seminars, network with other entrepreneurs, and see what exciting things transpire in light of the new information you receive daily. Watch your business grow!
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At MaxGroup Business Solutions, we care about your success. We wish to see you soar to new heights, personally and professionally. Our committed and caring team of professionals has the tools, knowledge, and success to help your business succeed. Join us today and see your business growth as soon as tomorrow. Visit www.maxgroupbusiness.com for more information.