The below 10 points are sure-fire guidelines which you cannot afford to ignore if you truly desire to take that great business idea of yours to the next level.
If you’re now planning to take self – employment seriously or you want to start your own side business in order to open an additional income stream, then I urge you to apply the tips I’m about to share.
I must be humble enough to admit that the success tips I’m about to share with you are never my original ideas. They are bits of wisdom I’ve gathered as a result of years of research on the subject of self – improvement, self – leadership, self – employment and solopreneurship.
So, here we go.
1. Do not let your initial location stop you from starting now.
In business, if you cannot get both at the same time, it is better to pay more attention to offering good products first and then get better premises later. You can start in your kitchen, living room or in your garage.
2. In business, honesty is capital.
Develop credibility with your suppliers, creditors and customers and success is yours.
3. Give the idea an easy – to – remember name.
A simple name that can stick to the minds of the public will help to quickly establish your brand.
4. Guard against wasting your financial resources.
Remember that money, however huge the quantity, can fly and fly away really fast; especially if it is not managed properly.
5. Be a pacesetter.
When it comes to deciding on your product or service, avoid the temptation to rush into anything which the crowd has already gone into. It is better to find business areas where there is little competition. By the time the others come in, you’ll be positioned properly enough to dictate the pace.
6. Choose a product that solves a common human problem.
The fact that there are too many problems facing today’s society means that there are countless business opportunities waiting to be exploited. Why don’t you consider such areas as food, water, sanitation, energy, education, health, shelter, communication, and clothing?
7. Delay your gratifications.
Place the interest of your business above your personal desire to appear to have arrived. Do not make the mistake of spending lavishly on personal effects as soon as the startup begins to make some profit.
For example, instead of going for an expensive car, you can make do with a cheaper all – purpose vehicle so you will be able to plough back the leftover money into the business.
8. Start small, grow big.
Trust in the power of one. It is advisable to start small. This way, you can learn, in small doses, from the inevitable mistakes of starting a new business. Do not let big, costly mistakes threaten the survival of your new business.
9. Think far, start here.
Begin chasing your big dreams from the point closest to you. Sometimes, the resources we are eager to go elsewhere in search for are sitting right there in front of us. All we need to do is look a bit harder.
10. Allow yourself to fail, but do not become a failure.
Failing is something we all experience once in a while but failure is a condition you allow yourself to stay in. You may fail many times but you need not become a failure.
The above are just some of the valuable lessons I’ve learned from the more experienced individuals in the field of personal growth and entrepreneurship.
Take them, apply them, and you’ll be astonished at the massive changes they’ll bring, not only into your business but also in your life as a whole.