Thursday, September 3, 2009

Winning Tips On Starting A New Business

So you had that fantastic idea, the one that is going to be absolutely successful and make you a fortune; better still, you actually did something about it and started your own business. Pat yourself on the back. Not everyone with a good idea gets that far. Most people sit and daydream about what they might do if they had this or that.

Read these power pointers to find what you need to do to sharpen your focus and motivate you to perform the day-to-day details of running your business and keep it going.

  • What are you good at, and what do you enjoy doing with respect to your business operation? Outsource or automate what you do not enjoy doing. Like most small businesses, in the early stages you might not have the money to pay someone to do the job you hate doing. Could you swap skills to get the help you need?

  • Why are you doing this? You need to be motivated to start a business and keep it going. What really moves you to get up in the morning and do what you need to do even when you don’t feel like it? Is it your dream house, or the holiday that continues to elude you? Put pictures of them where you can always see them

  • How do you deal with bumps in the road? Not everything you do will be successful, sometimes projects you have tried will be a disaster; it is how you react to the problems that matter. If you are one who gives up at the first sign of failure, you’d better not be in business.

  • Have a plan and stick to it as far as possible, but be prepared to be flexible and open-minded. Sometimes in the midst of a failure come unexpected opportunities. Be ready to seize the opportunities embedded in your failure.

  • Get a mentor. Learn from someone who has seen it and done it. Someone to bounce your ideas off and who can encourage you when things get tough. Never let anyone discourage you, and never be afraid of failure.

Before starting a new business, seek professional advice on the field you wish to enter.

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