Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

Dos And Don’ts Every Aspiring Entrepreneur Should Take Note Of

Successful entrepreneurs always had a thing or two to learn from successful people before them, and they keep learning as they go. Mentorship is a vital element of people who go on to achieve their business goals, but finding one is not always easy.

If you’re still having a hard time getting a business guru as a coach, you can start your entrepreneurial journey by arming yourself with these important dos and don’ts of business success.

The Dos

Build a winning team.

Great businesses are built by a collection of hardworking people with great minds. You cannot go it alone, no matter how technically skilled or committed you are. If you go solo, you’ll sooner or later lose out to a great team in the same business niche, locale and target market. Build a winning team to boost your chances of business success.

When hiring, focus on character.

When putting together your business team, keep an eye out for people with the right attitude and values. People with the right attitude can always be equipped with the right training, but you can’t mould people’s value to fit into your business ethics if they are at variance in the first instance.

Find great tools for success.

There are useful resources and tools to help in your quest as you launch out on your own, and you should make sure to explore or acquire them. These are usually business tools that help you deliver service with ease and speed, therefore potentially giving you an edge in the marketplace. Very critically, make sure to get adequate content cover for these huge investments or acquisitions in the event of any emergencies, so your business continues to run smoothly and profitably no matter what happens.

In the same vein, find and explore great resources to bolster your knowledge in the field and make you an industry expert with experience. These include business entrepreneurship programmes at universities, small business development centres, and angel investors groups, who are typically experienced entrepreneurs who can help move your ideas and business model to the next level on a mentoring/advisory base.

Deliver more than expected.

Google’s Larry Page says one of the secrets to standing out to your customers and target market is to do a great and impressive job. Delivering more than expected will get you easily noticed in your industry and build a loyal customer base and brand ambassadors.

The Don’ts

Don’t do work you don’t care about.

Building a successful business takes time, and if you don’t care about the area or are naturally interested in it, you’ll lose steam quickly, and the business will die, along with all the time, resources, and energy invested in it.

Don’t expect instant successes or profits.

Your new venture will not start yielding profits immediately or just after a short time of establishment. Most businesses take a while before becoming self-sustaining. What this means is that you should have a source of income different from your new business to sustain you while you go through the startup phase of your venture.

Don’t delay.

Your ideas are likely unique to you; so the person who makes the difference is the one who takes action to make the idea a reality. If you get a light bulb moment, the best way to get started is to quit talking and start acting. Success always begins with a step in the right direction.

Don’t fail to learn from mistakes.

If you asked them, many top business leaders would tell you they learnt a great deal from their mistakes. So, don’t let mistakes or failures take a toll on you. Learn from each mistake and move as quickly as possible. Treat each as stepping stone to climb up the rock of success. When you adopt this mindset, each mistake will move you closer to success as you become wiser and more business-smart.

Becoming a successful entrepreneur in the twenty-first century takes a lot of work, vision and perseverance. Taking note of and doing these key tips from top business leaders will help you create your own business success path.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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