Best Advice on Starting a Business for Entrepreneurs
My biggest tips for starting a business for those whose are looking or may be in business now and can relate! A lot of self-made millionaires didn’t get to where they are by sitting there and having a negative mindset. You have to work harder, be smarter, and want it more.
My Top 5 Tips on Starting a Business:
- Read – Reading everyday is so important. You must be ready for the long haul. A year isn’t a long haul for a business. If you weren’t ready to commit 3-5 years to a business, I wouldn’t take that route. Go into it with the humble assumption that you don’t know everything. You will need to read often. Every day. Read how to do something, more about a topic in general, and most of all, how others got to where they are.
- Ask for Help – There comes a time when you can’t wear all of the hats in your business and you have to accept that. It’s okay to ask for help from Business Advisors or even hire people.
- Don’t be Afraid to Spend Money (But Don’t be Foolish) - Being an entrepreneur can be a scary thing. Especially if you are bootstrapping your own business. You are very conscious of where that money is going because you had to log long hours to earn it. But, don’t be afraid to spend money. In business, you have to accept at some point that there will be reoccurring business costs. That being said, be smart about spending and equip yourself to make the most educated financial decisions. Does it help the brand? Does it make a better product? Does it help my customer? Am I investing?
- It Doesn’t Happen Overnight – You hear this all the time, but it is so true. It won’t happen overnight. It probably won’t even happen in the first 6 months. You have to have patient, determined, and want it more than anything. Be prepared to commit to the long haul.
- Be Prepared to Make Mistakes – We all have to start somewhere. That is truly how we learn. There are going to be many times you are going to ask yourself, “Why did I do that?” or, “Was that a good decision?” This is very normal. You are going to make mistakes, but don’t let that scare you. That’s the best part! If you make a mistake, you are bound to learn something and the best gift you can give to yourself is enlightenment.