Wouldn’t it be great if you could get some sound advice from a seasoned entrepreneur? If they could point out the mistakes they made along the way, and tell you how to find success. Well today, we’ve got some words of wisdom from some expert entrepreneurs. We asked them to give us one piece of advice that will help new startups on their journey. We love to learn from the experts that came before us, and we got some great answers! Here’s what they said.
Build your foundations as strong as possible
Too many entrepreneurs get carried away with their ideas. We know that entrepreneurs are excitable and creative people. They can’t wait to get their product or service out there. However, it’s so important that new business founders take their time in the early stages. Build a great product, and test it with your target market. Put those admin essentials in place, and register with the tax man. Get a mailbox forwarding service, a website, and a real phone number. Protect your ideas with patents and trademarks. All these things give you a strong foundation to build upon.
Find a business partner
Another huge mistake that business owners make is thinking they can do everything themselves. We’ve yet to find an entrepreneur that had all the perfect qualities. Some are creative and inventive. Others are logical, balanced, and good with numbers. Some are coding geniuses, while others know how to sell a product. You need all of these qualities to succeed in business. Find someone who balances out your skills, and keeps you excited along the journey!
Maintain a work-life balance
When you run a company, it’s so easy to blur the lines between work and pleasure. You can run your business from anywhere, which makes the physical separation quite difficult. When it’s your business, your brain is always turned on. You’re always thinking of ideas and concepts. If you’re to succeed, you’ve got to learn to switch this off. Learn to relax in the evenings. Everything can wait until the next day. You’ll come back with more clarity, and more energy. Spend time with your family; you won’t regret it!
Take calculated risks
This is the hardest aspect for any entrepreneur. Success often requires a leap of faith into the unknown. At a certain point, you have to take a risk, and that defines a great entrepreneur. Knowing how to weigh up the balance, and make an informed decision. These moments are the turning points for your company, so learn to take calculated risks.
Don’t listen to the noise
Everyone is looking for the next hot startup. Investors are always talking, and the tech press is always predicting the next big success story. None of this matters to you or your company. Ignore the chatter, and focus on what you’re doing. Looking at the success around you can bring you down. Keep your head down, and make your business a success!
Learn from the experts, and don’t make the same mistakes they did. Best of luck with your new venture!