Essential Tips For Entrepreneurs

First, this post is more focused for those who are on their way up the entrepreneur ladder, the future successors, the dream chasers – more so than established and successful business men & women. However these principles can apply to anyone, and not just in business but also health, wellness and life. Here are the 8 Essential Tips For Entrepreneurs

#1 Be Responsible For Your Results

I hasten to emphasize the fact that anyone who wishes to build a business should take 100% responsibility. If something goes wrong, nobody but you is responsible…not the government or laws, not corruption or anything else!

Only a responsible person will get to the finish. Fall and rise, fall and get up, but continue implementing your business plan. Adjust it if necessary, but never give in. Blaming the circumstances is the shortest path to failure.

tips for entrepreneurs

#2 Set Your Goals Accurately

You don’t want to realize at the end that the goals you set were actually meaningless, do you? Not to get confused when your business plan is almost brought to life, make sure of what you really need. If necessary, consult with a psychologist. It may turn out that you need recognition instead of money, to be involved or show others that you are better than them instead of becoming wealthy. Ultimate goals greatly predetermine your future business steps.

After you have a final goal, break it down into a bunch of smaller sub-goals. The more sub-goals, the better. At every stage, ask yourself “Why?” questions: “Why do I have to invest this amount of money?” “Why do I need this employee?” etc. Split your goals until they become elementary. As a result, you will have an object scheme that represents the obstacles you have to overcome to reach the ultimate goal.

#3 Motivate Yourself

I can’t give you a general formula for motivating yourself to achieve the goal because everyone has different life priorities. But there is a general principle.

  • Think that you really want to get it. Something that you would be ready to fight to get to. Then try to fix the image in the subconscious. For example, if want to buy a new Mercedes of E-Class, draw the picture of the car in your imagination in every detail. Take a trip to the dealer, find the Mercedes, sit in the salon, and take a test drive. Give yourself a promise that very soon you will take it home.

If at this stage you feel no euphoria, it means the goal was set incorrectly. Start from the beginning with a new (or adjusted) goal.

tips for entrepreneurs

#4 Reduce Distractions to a Reasonable Minimum

Stop watching TV and start reading books on your topic of interest and communicating with those people who are much stronger, faster, and just better than you. Don’t look at those who are at your level.

Reduce distractions to have more time to think, but don’t overthink since it may be even more destructive than hasty decisions. Allocate at least 30 minutes a day to analyze possible solutions that may bring you the target result.

Any business is represented by figures and values that can be calculated in quantitative or qualitative terms. Start measuring key business indicators from the very beginning, and later you will make the right conclusions for further actions.

No dollar will pass between sofa and ass.

#5 Delegate

Earth turns on its axis in 24 hours. If you do everything by yourself, your business will never grow because will never have time to do all you need to do on a high level. The only way out is to delegate your minor business tasks to the right people, not forgetting to control the execution.

The process of recruitment is a huge topic, so I won’t even touch it in this paper. However, there are always people on the market who are better than you is their narrowly-focused niche.

#6 Reinvest

Don’t earn money just to have a lot of money. Don’t be afraid of losing what you’ve just got. And don’t equalize the profits of the company to your own profits. Otherwise, you will never be able to properly reinvest earnings. There must be a clear separation between “my money” and “the company’s money.”

#7 Get out of the Comfort Zone and Destroy the Stereotypes!

Most people will discourage you. But just because something doesn’t work for others doesn’t mean it won’t work for you. “You cannot do that,” “do not climb there, it’s dangerous” – be ready for such demotivation. In short, society is always trying to put each of its members into frames.

Most people live their entire lives in a comfort zone and don’t even attempt to get out of it. As soon as they start to go beyond their comfort zone, they suddenly discover that some miracles happen to them. Do not be afraid to do something new and outstanding from your current point of view.

tips for entrepreneurs

#8 Compare Yourself With Your-Self – Not With Others

It is useless and inappropriate to compare your results with those of other people. Every person is unique in his own way, and, therefore, has his strengths and weaknesses. You will not compare, for example, a kettle with a TV. Analyze how far you have moved from point “A” to point “B.” There will always be someone who is stronger than you. Live your life, not the life of others. Move confidently into the direction of your dreams.

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