Being an entrepreneur is one of the most desired things for all people; managing our own business and fulfilling our dreams by our own mea...
Being an entrepreneur is one of the most desired things for all people; managing our own business and fulfilling our dreams by our own means. But initiating a new business is really hard and most people crash and fail in the process and some never try again. That’s why there are some steps to become a good entrepreneur that can be learned by any coach. Nevertheless, some of them are quite know and for your consideration, here are
10 tips to become a real entrepreneur
1. Know yourself, find what you love and do it with passion
it is important to remember that the best way to work is doing it in something we love. This applies to our business more than to anything. But to be sure what it is that you love, it’s very important to meditate and take a conscious time to explore our mind and spirit so we can actually be honest with ourselves; identify our capacities and virtues as well as our passion, but also to be honest with our flaws so we can find a real way to deal with them at our business. Never forget that passion, honesty, and perseverance are keys to become a successful entrepreneur.
2. Less could actually be more
it is very common that people who want to start their own business let themselves get carried away by the momentum, rushing into giant projects or compromises that they sooner or later won’t be able to maintain. As we said before, it is very important to recognize our own limits so we won’t overdo and ruin everything before it even started. Taking baby steps and planning part by part can help determining possible goals that won’t destroy our enthusiasm in a matter of days. Passion can fail sometimes, and if the failure is too big all at once, it may destroy us forever, smaller burdens or falls are more manageable for incoming business.
3. Capital selection and investment time
It is very common that once again carried away by enthusiasm, we act with indulgence when calculating the right amount of money we need to invest, and starting the business short on capital. This is one common reason of failure to new business. The best advice we can give is always “hope for the best but and prepare for the worst”. Worst case scenario is always the best starting point for calculating the needed capital to start a business. Imagining a situation in which we’ll have to hang on out of our own pocket to survive, helps to understand how important it is to calculate an honest and complete budget for succeeding as an entrepreneur.
4. Take an advice
Usually, when people have days and days thinking and planning their new project, they have nothing else in their minds and that may lead them to think that “they know best”. That is a huge mistake, especially for new entrepreneurs as they’re actually not experienced in the matter and obviously have forgotten that usually, reality differs a lot from theory. That’s why we recommend learning from others that are more experienced in the field, even work with/for them just to take practical advice and possibly discover angles that we haven’t seen before.
5. Partners in business are not random:
If we really want our business to succeed, we need to forget about our friend with financial problems or about our lazy nephew that needs a job. People are the main key to success since their hands hold all the things that have to be done to prevail. That’s the reason why we have to choose our team work very carefully; trust and loyalty are really important features but they can’t go above capacity. We’re certainly that our best friend won’t betray us but if he can’t perform the job, he can’t help us either. Make a deep study of all the options available for any job in your new enterprise and choose only the best balance between aptitude and attitude.
6. Watch out your attitude and be sure to create the right work environment:
If we’re going to be the founders of this new enterprise, it is important that we imprint the best possible attitude to it. Learning empathy and acting motivated will generate the same kind of characters in your co-workers and employees. It is simple, if we can’t be happy and act motivated or at least positive in your own business, no one could.
7. It’s never too late to begin:
This applies to anything we want in life; no matter how much time we’ve lost or if we are a little bit older than the norm, success sees no age but only the effort. There’re lots of bright and successful entrepreneurs that have started their business being in their late adultness but that didn’t stop them from achieving their dreams. Also, experience and age bring some advantages too and can be an ally to manage a lot of difficult situations.
8. Don’t waste efforts, make a plan
It is common that starting businesses seem unclear and we may get overwhelmed by all the things that need to be done. It is important to determine the right metrics that we need, for our business to maintain itself. Planning and learning about business is a good way to separate priorities from amenities and once we’re certain of this, it’s time for taking action and directing all the efforts to those priorities so work won’t dilute into countless useless tasks.
9. Sometimes, more than words will be needed to motivate others
Incentives work quite well with anyone and anything. Because humans are complex and emotional it is possible that even with the best work environment, morals are low and partners are not giving their best. That’s where a good incentive can get that boat back to shore course. If we have already determined policies and priorities, then it is really easy to design the right incentive strategy so everything works just fine again and morals get up.
10. Never stop
As markets and business are constantly changing, it is important to take action on our strategies so we won’t get behind. Maybe some decision must be taken without enough information or detail study but it is definitely better to act and to correct things on the way than not acting at all and getting stuck in an incorrigible situation that stops the enterprises growing. It is important to act confidently to become a successful entrepreneur
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