7 Essential Tips for Every Aspiring Entrepreneur
It’s the first quarter of the year, and I know a lot of people’s resolutions consist of starting that dream self-owned business, so I’m going to give you lot some tips that will increase your chance of being a successful entrepreneur. I’m inspired to write this piece because I had seen a lot of people ranging from friends to families, failed when they tried to chase their dreams of making it through a business of their own.
There is almost nothing as exciting as being an entrepreneur. You are your boss, the terms and conditions of work lie with you, you’re free to make your own decisions, flexible working hours and most especially you have a chance to earn higher. I am convinced that the under-listed tips will help you on your journey to entrepreneurship if you follow them.
DO NOT QUIT YOUR JOB AT STARTUP
A dear aspiring entrepreneur, your morning to evening job will not kill your dream. It is one of your sure bet to finance your dream. The best time to start investing in your business is when you still have a steady source of income. There have been a lot of cases where people quit their jobs but couldn’t fund their dreams. Be smart.
DON’T EXCEED YOUR ABILITY TO FUND YOUR BUSINESS
Getting a massive sum of a loan to fund your business at just the very beginning is a sign of a flawed business. It is always good to take baby steps, start small and grow big. If you get too much of external fund and start big, your growth might consume your capital, and that’s a failed business.
KNOW YOUR CUSTOMERS FIRST, AND BUILD YOUR PRODUCT FROM THEM
Know your target customers first and build your products around their specs. Don’t make guesses. If you don’t know your customers first, you might end up wasting money in creating products no one wanted.
BE PASSIONATE ABOUT WHAT YOU DO
If it doesn’t make you happy, don’t do it. Entrepreneurship is not just about making money; it also involves making sacrifices. When you’re passionate about what you do, putting in the long hours won’t feel like a sacrifice anymore.
BELIEVE IN YOURSELF
If you don’t believe in yourself, who will? You must to first believe in yourself before others do. You need to trust yourself, believe in yourself and listen to your intuition if you’re going to be a successful entrepreneur. People are more likely to follow a confident person.
CONQUER YOUR FEAR
Mark Essien the founder of hotels.ng on a blog post published on techpoint said that fear is the fuel of procrastination, turn that fear into a force and do it anyway. Fear stops action, find a way to manage your anxiety, and you will be a successful entrepreneur.
STUDY SUCCESSFUL ENTREPRENEURS
The role of having a mentor cannot be over-emphasised. Surround yourself with excellent entrepreneurs who have been there before you. Learn from them and improve yourself.
