“Every successful person was once an unknown person that refused to give up on their dreams.”
In the cutthroat of this business world, you always have to stay on top of your game and be strong enough to never give up after facing a few problems. As a person who is thinking about starting your own business and thinking now, it’s the time to make my passion into my profession that we are done working for the others. Being a business-minded person it’s really hard for you to work for others and even harder to hold down a job. That’s when you know that you want to start your own business.
“If you don’t build your dream someone else will hire you to help build theirs.” – Tony Gaskins
Today we are going to talk about ” 10 Things you should know before starting a business” The risks you need to take and things you need to avoid at all costs.
1. Doing Lots Of Research
Before you take your first step inside the business world. You should know what you are getting yourself into? Go to the internet to find out about the business you are starting to find what you’re future potential clients want from you? Go ahead read every single thing you find on a business topic and an article. Try to keep with the ups and downs of the business market. Make sure what you are offering your clients your competitors would never be able to offer it to them.
2. Reading Every Single Book You Can Find About Business
Not everyone can find a mentor that quickly and it’s really hard to get a meeting with a business tycoon that you idealize so you can take their advice and talk about your ideas with them. It might take months or maybe a year you just never know. So what you gonna do sit around waiting for the meeting to happen and mentor to come along. The answer is ‘No’ you can just go-ahead read lots of books on business.
Here we are going to recommend some of the books you can read by an Indian and foreign author:-
- ‘The Art of the Start 2.0: The Time-Tested, Battle-hardened Guide for Anything.’ By Guy Kawasaki.
- ‘The founder’s dilemmas: Anticipating and avoiding the pitfalls that can sink a start-up‘ by Noam Wasserman.
- ‘Become your own boss in 12 months: A month-by-month guide to a business that works‘ by Melinda F. Emerson.
- ‘How I Braved Anu Aunty and Co-Founded a million-dollar company‘ by Varun Agarwal.
- ‘Vyapar Shastra‘ by Vishal Shivhare.
- ‘Go kiss the World: Lessons for the young professional‘ by Subroto Bagchi.
3. Saving Money Is Important
Let’s say you are still in school and thinking about starting your own business after finishing school. It’s time you start saving money. Get a part-time job that you can manage with your studies. Save as much as you can after buying the most necessary things yourself. Trust me you won’t regret that saving once you start your own business.
4. Avoid Taking a Loan If It’s Not Necessary For Your Business
Taking an unnecessary loan is never good for you or your business. As a newbie in the business world, it’s not such a great idea. You have to see everything from left to right. It’s just like crossing a busy road. You need to look in every direction and then cross the road. Otherwise, you are as good as dead. What if your business fails? Your debt is not going anywhere. It doesn’t matter if you are broke, you still have to pay the debt. Never make the mistake of taking home loans. You might end up losing everything. You should make the most of your savings. Avoid loans if you can? We know some business does require a huge amount of capital but not every single one of them.
5. Find a Good Mentor
Finding a good mentor is never an easy task. You need someone who you can trust and can lean on. That person must have a great amount of business knowledge. They should be someone you know never going to sugar coat anything for you. Just going to tell you everything that as it is. You won’t have to worry about them thinking they won’t give you the harsh truth because your feelings might get hurt. In your mentor’s eyes, you need to earn their respect. Sometimes we all need a firm hand that’s what your mentor is going to be for you.
6. Give Your Time To Important Decisions
Make sure you are not rushing the decision. which can make or break your business career? Take as much time as you need. Question everything and try to find the right answer. Go to your mentors for that take their advice. But always make sure the last decision was yours. So in the future, you won’t blame anyone for that. Make every decision with your eyes wide open. Don’t trust and make decisions blindly.
7. Don’t Overwork Yourself
We know for a beginner your work requires your every single you can put in it. But it is also necessary while working you make some time for yourself. Taking so much stress, working unlimited works. Your body needs a break from all this or you gonna work yourself into your early death bed. So make sure you do take a break.
8. Thinking About Hiring Assistants, and Few Workers.
If you are thinking about hiring a front desk assistant and a few workers to help you out? Stop right there because you are not an established business yet and then you are creating a problem for yourself. Giving someone full-time jobs means you have to pay them every month. When your business not even making enough. Try to find freelancers for important work otherwise avoid unnecessary business expenses.
9. Never Give Up
When you are getting into the business? You should know and prepare yourself for failure. Sometimes you put your every single hour, energy and money. But still, sometimes you lose your clients to others or worse you fail into so many things. But it doesn’t mean you should give up. Learn from your past mistakes and get up and try all over again.
10. Stop Worrying About All The Legal Stuff in The Beginning
Stop stressing yourself about all the legal stuff. It comes much later. Most people worry about all the paperwork and don’t even start their business. Well, let’s just focus on one step at a time to establish your business first. Make your product better, find out what your client wants? You will learn everything else with time.
“It will be difficult, It will take time, It will require sacrifice, but it will be worth it.”