You have decided to open your own business. Good for you! But now that you’ve made this huge decision and taken that step, you have probably heard millions of tips and pieces of advice from a bunch people who probably mean well but know little about what you’re going through. The truth is, no matter how many people support you – you are alone in this. And the decisions you make will have a strong impact on the course of your business.
The only people who could give you real advice are entrepreneurs just like yourself. So let’s combine the best tips from the most successful business owners in the world:
Be creative – Don’t even start a business if you don’t have something new to offer to the world. And once you begin, always keep searching for new ideas. The most important thing – aim high. Don’t be happy with small success, make something better and different than everybody else. Only then can you expect profit in return.
Take it slow – Success doesn’t happen overnight, even though the idea of that sounds tempting. Success doesn’t come cheap, easy or fast, so be prepared for a lot of hard work. If you want to get to the top and stay there, you will have to invest a lot of time and work into your project. Get ready for failure and rejection. It’s not about how many times you fall, it’s about how many times you can fall and get up with your head held high.
Keep your friends close… – Make sure you analyze your competition. The worst thing you could do is ignore them completely. A better approach would be to acknowledge they’re there and then learn from them. Also, once you start getting results, be prepared for competition imitating you. If you don’t think your business would survive imitation, don’t even start it. Competition is a normal part of every business and it should motivate you rather than intimidate you.
Believe – Your business must be something you strongly believe in. That is the only force to keep you going forward – your optimism and faith in your own idea. Don’t chase after somebody else’s dream, chase after yours and you will have much bigger chances to succeed. And don’t stop believing in yourself along the way. If you don’t believe, nobody else will.
Take risks – Sometimes, taking a risk is the only way to make progress. But this doesn’t mean you have to make reckless decisions and go through walls. Take a risk but prepare for the worst case scenario. However difficult it may be, think about failure and how you would prevent it, but also overcome it. Invest a lot of energy in your project but try to spare some energy in case things don’t go your way.
Be happy – Starting a company can take a lot of time and energy, but don’t let it drain you dry. Whatever you do, you must be happy with your life. This means you should take care of your mental and physical health and most importantly, nurture your personal relationships. Be there for your family, your partner and friends. You won’t get very far without your loved ones and it’s a misconception that you need to kill your social life to succeed. If you realize you are unhappy, it’s time to change something.
Lower your budget – Whatever you were planning to spend on starting up your business, lower it by 50%. Even though this idea may sound unimaginable, it is the only way to survive at the beginning. Chances are, it will take time to make a serious profit so don’t make unreasonable expenses. Your public image is one of the most important things for business, but staying alive on the cruel market is even more important.
Be organized – Every successful businessman knows how important it is to keep track of his or her plans. Make some time to plan and strategize, every day, every week, every month. Once you know what your goals are, it will be much clearer what needs to be done. And you will feel the sense of accomplishment every time you check something off your list. Stick to your plans and keep track of everything going on around you.
Be consistent – As you embark on your journey, some indispensible work habits may not yet be incorporated into your daily routine. Make sure you follow all the necessary steps in order to succeed and do them daily. Don’t give up, don’t slow down, and don’t change the good stuff. Consistency is the key to success and the only way to get any results. Just when you feel discouraged, be prepared to push even harder.