One of the most common handicaps beginning entrepreneurs must overcome before they could get anywhere in the world of business is to get past the initial indecision over what business to pursue. Such is usually a mark of confusion and is a sure way to drain off the entrepreneur’s reserves of enthusiasm and productivity. Although a few very successful entrepreneurs were blessed with a keen sense of business mission at the start of their career, it would be misleading to assume that all who aspire for business success must posses or be possessed by such clarity of purpose.
Many beginning entrepreneurs make the mistake of thinking that their first business try must be a winner from the start, or a sure-fire hit, or else they are doomed. They therefore take so much time to choose and decide which business to pursue. They are on a wait and see mode for so long when they should be taking chances and learning valuable lessons from their mistakes. When they finally take on an opportunity, it is usually when everybody else has already made some money off of it, when the business is already about to reach the saturation point and consumer demand is drying up.
7 BIG TRUTHS NEWBIES MUST KNOW TO WIN AS ENTREPRENEURS
Here's a quick guide for those planning to start a business of their own but are still skimming through a catalog of business opportunities in their minds.
1. DON'T THINK, JUST JUMP.
Let your passion be your guide. But if have not yet discovered your passion, just go with your common sense. As a budding entrepreneur, you are not after fulfilling your deepest personal desires but learning the ropes of business as fast as you can. So, if the business opportunity seems good enough, just jump in. You don't know any better anyway. Just don't bet everything you have in the bank. Pay only what you consider to be a reasonable entrace fee into the world of business.
2. BE ULTRA PRACTICAL.
Your first goal in business NOT to make money, but to LEARN how to make money. There's a big difference. And definitely you are not in business to make the world a better place. Practice your idealism elsewhere, in your dreams maybe, but definitely not in your business.
3. KEEP IT REAL AND SIMPLE.
You don’t need the “best” business. Again, the “idealism disease”. If your business is decent, legal, feasible, and has good profit potentials, that’s good. If you can serve people through your business, that would be even better. If your business turns out to be your hobby or passion, that’s just great. But don’t think everything needs to be perfect to work out. If it makes money without violating your conscience, that's perfect enough.
4. GET IT OVER WITH, ALREADY.
Start your less-than-ideal small business as soon as you can. And yes, invest only what you can afford to lose.
5. IT WILL HURT, BADLY.
Expect to fail. But work your hardest to avoid it. And when you do fail, congratulate yourself. You have the respect of all successful entrepreneurs who started out just like you. Now, its time for the next step --- move on, try again.
6. FAILURE WILL MAKE FEEL STUPID, AND YOU DESERVE IT.
That's what failures are supposed to do. Humiliation will set you free from the burden of false pride and challenge you to be smarter. Your first business failure will be the foundation of your success in the future—unless of course you never learn anything from it.
7. YOU ARE THE BUSINESS.
Your business is only as successful as you make it. No matter what kind of business you go into, your entrepreneurial ability will always play the deciding factor in your balance sheet. Your number one priority in business is YOU. The quality of your success in business reflects the quality of your being a person and entrepreneur.
THE FASTEST WAY TO GET RICH A true entrepreneur’s desire to earn more is nothing compared to his passion to learn more. The fastest way for anyone to get on the right business path is to do it the entrepreneur’s way. Keep on going and never stop learning.
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