- Posted by Web Team
- On September 21, 2016
- 0 Comments
I run a web design business and also a not for profit organisation and I received no help in the early stages it was all a one man team and know I have learnt from the many different mistakes that I have made and I want to share these tips to first time entrepreneurs.
When I first started out as an entrepreneur I kept bouncing between ideas and opportunities, which is not a bad thing, but this has an impact on your current business. Avoid getting side tracked and focus on the one venture that is important to you. Master that venture then surely you can focus on other opportunities that are thrown at you.
Do what you know
People tend to do business because the term entrepreneur is cool and so popular but there is no point in doing business if you do not know what your good at. I started web designing with very little knowledge in to it and developed it which lead to me creating my own company websites saving me pounds and pennies. Businesses built around your strengths and talents will have a greater chance of success. It’s not only important to create a profitable business, it’s also important that you’re happy managing and growing it day in and day out. If your heart isn’t in it, you will not be successful.
Master the elevator pitch
If you cant tell the store in 30 seconds then you need to master the pitch. Have a practice of an elevator pitch because you never know whom you will meet; you never know they might even be your future investor.
Don’t be Mr Know it All
A lot of people think they know it all and so did I when I first came in to business but that’s not how the world works. If you don’t know then you don’t period. This is not a bad thing but in fact you know which areas you need to fix. Also if you need help ask!
Act like a start-up
Don’t dream of a beautiful office view (don’t we all want that) and a luxurious car start to act like a start up. Most wealthy people have started out small for example Lord Sugar started on his two-wheel bike. For any start-up cash is the most important thing so treat is as your most valuable assets and don’t go on a shopping spree after a major sale. Watch every penny and make sure you check your expenses and think, do you need these expenses or not?
Expect the unexpected
Business plans and forecasting is good for effective business management but these cannot predict your success as an entrepreneur, there is never perfect plan so keep trying. Also remember never jump straight into business without any thoughts. The most important thing you can do is learn from your mistakes–and never make the same mistake twice.
Money will not come to you
When I say this I mean it, no one will give you the money period! If you need huge amounts of cash hit straight back to the drawing board and start to find your starting point. Make sure your business is investable and plan your business in a way that if you had millions would you invest in this business. If not what’s the reason? How can they improve? Find a way that proves your business model works.
I’m not your father J. At the same time, take some rest, eat healthy and makes sure you take breaks. Falling ill is going to mean your business is not going to do great. Remember if you are ill then your business is ill.
Don’t chat shit!
Don’t say something that does not make any sense at all or that is completely untrue. Show your business success by not talking but by doing then we all know you are not chatting shit.
Know when its time to say bye
Not all businesses make it to far and this is not a bad thing. There can be many factors such as customer demands. Don’t carry on because you think that its going to stay with you for the rest of your life but give up and wind down and then start again.
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