Are you a Start-up entrepreneur?
Here are 10 tips to keep in mind when taking your first steps in your entrepreneurship.
It is easy not to dare to say no as a new entrepreneur, but there is a risk that you jump at every opportunity. But it also means that the path to your real goal will be longer. Focus on one thing and do it right instead of having ten half-baked projects at once. If you still have a hard time not being attracted to a siding, maybe this is your original business idea you need to rethink?
Love what you do
Do not become an entrepreneur because it sounds tough or because you quickly hope to make big money. Work on something you love! Entrepreneurship and entrepreneurship based on your knowledge, interests and talents have a better chance of being successful. And you have fun on the road – it can take a long time before you achieve your goals.
Have your elevator pitch ready ?
Always be prepared to tell about your business idea and practice a short presentation, which can be adapted to the person you are talking to. You never know when or where you will meet a future customer or partner.
No one knows everything, especially not as a beginner. A good piece of advice is to find advisors and mentors who have experience in your industry and in entrepreneurship. Dare to call or send an email to people you admire and ask for advice.
Most people are just flattered and are happy to help if time allows. The worst thing you can get is a no – and if you have real success, the person may in the long run fall so in love with your business idea that you have a new partner or investor in the long run.
Turn over every penny
In the beginning you do not have much money – remember that and act accordingly. Review your expenses and minimize them almost in absurdity, this applies to everything from office rent to choice of coffee type.
Learn from your experiences
You will never be able to fully plan for future problems. No matter how much you prepare, things will happen that you have not planned for and entrepreneurship often means daring to take risks.
Of course, be sure to think about the decisions you make, but if it feels right, it is unnecessary to dwell on an idea for too long. The most important thing is to act smart if problems arise, learn from mistakes and never make the same mistake twice.
Do not count on any start-up capital
Plan your new business based on the fact that you have no money. If you realize that you will need a large amount of capital just to get started, it’s time to return to the drawing board. Start small and prove your idea, then you have a much better chance of attracting investors who want to be involved and finance your business.
Entrepreneurship is a way of life, many claim. But the most important tool for achieving your goals in the company is yourself – take good care of yourself. Although you may never be able to work 9-5 (and if you love your job, you may not want to either), plan time for recovery, spending time with friends and family, and physical exercise. You get it back by having more energy when you focus on the company!
Do not exaggerate your excellence
You should of course have a good elevator pitch and tell us about all your benefits. But stick to the truth. Exaggerating your company’s profits and size is just doing yourself a disservice. Do not promise more than you can deliver, otherwise it risks hitting back, hard.
Realize when it’s time to break up and come back
Of course, do not give up too easily. But do not continue stubbornly with something you actually realize will not work. Without swallowing the pride, reflect on what went wrong and avoid repeating the mistake.
Successful business owners often have a bunch of failures in their luggage. The difference is that they have learned from their mistakes and used them to succeed better in the next business.