Guest post by Sahin Shaik. title image from Pixabay.
“The best way to predict the future is to create it.”- Abraham Lincoln
There is a lot of skill and charisma involved in creating a company from the ground up. Entrepreneurs are men who aren’t afraid to take a leap of faith into a new venture, sometimes a novel one and create a place for themselves there. As there are almost innumerable startups coming up every year, it’s important to stay ahead of the curve. This means that a good entrepreneur will start a good company but a great entrepreneur will make it flourish.
For this purpose, there are some tips for entrepreneurs that modern and would- be businessmen need to know:
1. You need to be ready to make the hard decisions. There is a line between passion and profession and many a time, we find ourselves conflicted between the two. Unable to accept that our passion may not coincide with our professional aspirations, we tend to make incorrect decisions which don’t work out for us. What entrepreneurs need to know is the need to identify whether they can convert their passions into their professions and whether they are doing what’s right for them when starting a business
2.Staying focused is the key to moving up the proverbial ladder. It means that instead of focusing on multiple different projects, you should put your energy towards one. This will allow for maximum concentration, in effect making your project complete and successful. This way, you will ensure maximum productivity and returns which should be the focus of your endeavor.
3.The goal should be to satisfy market needs, not invent a radical idea. Though it’s always great to be a revolutionary, the advice for entrepreneurs here is a successful business involves more staying on track with current affairs/requirements and less innovation. Yes, it may sound boring and downright uninspiring but it’s the hard fact about any business venture.
4. Get used to taking action than always sitting around contemplating about what you want or can do. Procrastination is never productive and you just end up being stuck without any progress. Learn to take action on your views/ideas. If you have a way to take your business further or to resolve a problem, discuss with your peers and get underway as soon as possible. Remember, time is money and the sooner one acts, the better the response.
5. Before you start your business, find a mentor. A lot of major industrialists/businessmen take steps to help the upcoming entrepreneurs as a way of contributing to the newer generation. A mentor brings a plethora of knowledge with years of experience to the table and such a person being behind your venture can help you immeasurably.
6. Many believe that successful entrepreneurs are ‘risk-takers’ who practice risky methods and tactics to get the job done. I am afraid that this is a major misconception as successful businesspersons are in reality cool-minded and composed when it comes to planning. To them business is about one small step before the next, with situational analysis after each step. What I mean is that, to be a success-story, it is imperative to proceed with small projects in the beginning, assess your mistakes or achievements and better your tactics for the next step. This permits a proper learning curve and minimal losses for your startup until you consolidate your position in the industry.
7. Be prudent. Remember that you run a startup and though you may have great aspirations for the future of your company, you are still in a developmental stage. Accepting this involves saving up on your expenses which includes not wasting money on fast cars, an expensive office space or a series of luxurious items. Many young businessmen feel like superstars when they get some initial success, forgetting that business is a double-edged sword that can fail anytime. Take your time to develop your business, consolidate your position and become popular before indulging in anything grand.
— MyTasker (@MyTasker) May 19, 2016
8. Finally, hire a Virtual Assistant. A VA is an efficient option to get your work done quickly and professionally at an inexpensive rate. For any start up, this is a great deal as it will increase productivity at a reduced rate, effectively saving on the expenses for the company.
— MyTasker (@MyTasker) July 21, 2016
You may be an innovative professional with a future vision for greatness. You may even be very good at what you do. But despite your zeal and determination, you need to be level headed and calm to take your aspirations further. The above points elaborate on these and keeping these in mind will assist you on your endeavor enormously.
Sahin Shaik is the Sr. Manager (Process Control) at MyTasker, a virtual assistant company. He started his career as a Master in Computer Science and Technology.
He is extremely passionate about his work and nurtures an ardent love for Music and Arts. You can follow him on LinkedIn.