3 Tips for New Entrepreneurs

It is one of the most exciting moments for me when I am privileged to share tips with new business owners. I make it a point of duty to let them know that it is not as complex as most people think when starting out in business. The tips I am about to share have been proven to work for many individuals. Why re-invent the wheel when you can follow a path that generates results? Another misconception that needs to be put out of the way is that people believe that it takes money to run a business. This may be valid in a sense but it is not the whole truth. There is more to business than money.

Business ownersThe first thing is for the Entrepreneur to find his voice and passion. The early days of a business do not give instant rewards. It is important to do what would give you peace and satisfaction. This may not be tied to a huge principle for success in business but it is a good place to start. When you find out that you can stick with your plan no matter what happens then you know that you have signed up for success in the long haul. Business can be demanding and why would you give your heart to something that sucks the life from you. This may seem like a well worn advice but it is something that is worth sharing. It pays to follow your heart when starting out in business.

The second principle is to have a team of people who support your dream and vision. Do not try to go it alone because there would be times when you may be tempted to drop the baton. The right team helps to give you the moral and social support that can keep you going. There is nothing as powerful as knowing that those you love believe in what you do. It gives you the extra push to keep reaching for more. The circle you build can be dependent on your unique context. For some individuals, their family and friends would do the magic while others would be better off in a business circle.

A major rule is to start out as a seasonal business. One of the most important articles I have read in this range can be found at – http://blog.mycorporation.com/2016/06/experts-weigh-tips-running-seasonal-business/ It covers the essentials and shows how you can build a great dream from the scratch. Seasonal businesses are gaining huge traction because it gives you the opportunity to build on a system that works. Furthermore, there is a pool of resource available to anyone who knows how to work it as a Seasonal business owner.

Generally, the rules for business remain the same. The cliche which says that you are not in business unless you are making money can be applied. However, this must not be your focus when you start. You must ensure that you are poised to run by the rules and the money would come in due course. I believe that this would help you on your journey to success.

Start Your Own Business

cat111Everyone would like to be financially independent, but this is not always easy to do. You can find a good job that pays well, but not everyone will also be satisfied with this option. The second thing you could do is to start you own business.

This doesn’t mean it will be easier, but it won’t be impossible either. It’s about working a lot more than you would work for a 9 to 5 job, and you will have to be really dedicated to it. If you start on this road, you can say that it’s not allowed to quit. The success is within your reach, but you’ll need more than money to invest in it.

Characters - Business meetingHere’s what you need to know about this whole process.

The Idea

Yes, you have to start from somewhere and you will need an idea for creating a business. If there is something that you are specialized in or if you know some handcraft, then you can start on it. Some people choose to make jewelry, other people want to start a coffee shop, while other people want to work with flowers. There are plenty of ideas that can work, but you need to fiind one that offers you pleasure.

That’s right – pleasure and passion – if you do something with passion, you won’t feel like it’s a job.

The Budget

Business-ideas-to-increase-your-revenuesYou will also need to have some money to start this business. There may be needed different materials, a location, and different licenses and so on. All these will cost you something and you will have to be prepared for them.

Make a list with everything you need for starting your business, and write the price next to each item. For example – the rent for the location, the price of the materials, the price for the first contracts with the vendors and so on. Make sure you will be able to sustain your business for a few months at least, before it starts to produce profit.

The Plan

Small-BusinessThat’s right, you will need a business plan. This is not just a sketch, but this is a paper that will prove to be extremely useful, especially if you want to get your business financed by investors or by a financial institution.

The business plan will have to contain everything, starting with your name, location, presumed number of employees, domain, license, prices of the materials needed, the price of the rent, how you plan to advertise for it – meaning marketing options and so on.

Make sure you’ll have this plan designed by a professional, and it’s better to talk to a business lawyer to have it done right.

The First Steps

growing-businessTaking the first steps in this area is not always easy, but with a good plan, a good budget and determination you can make it work. You will have to constantly learn new things and be professional in what you do. Running a business is not always easy, but if you do it with passion, it’s almost successful.

You’ll also need to have a good team to help you – even if some business ideas are made for one person – like creating handmade wedding invitations, other business ideas require you two or three employees – like starting a pub or a coffee shop.

Don’t hesitate to look for professional business advice whenever you need it – it’s not a shame and you will always learn new things from this. You can also read books and go to business workshops or take special classes. Whatever you do, remember that you are working for your own benefit and you don’t have to quit, even if this seems hard at first.