Entrepreneurs…..seem very much like a friendly bunch of characters. So far we have been knocked back by how helpful our fellow Entrepreneurs, from starting-up Graduates, through to seasoned Pro’s, all are. In the spirit of cross Entrepreneurial friendship, Raspinder Singh from Gradpreneur.net asked us to take part in a joint post, highlighting our top tips for budding Entrepreneurs on some of the things we are learned so far in 2011…..So without further ado…
1. Don’t let fear stop you. Your age and naivety presents many opportunities, some which may be more difficult to pursue when you are older, so take a chance while you can
2. Just because you have graduated, doesn’t mean you will have to stop learning. If you aspire to be an entrepreneur, life will present numerous obstacles, which only you can overcome.
3. Exploit every networking opportunity you get. Meet as many new people you can, especially those who may be able to help you in the future.
4. Realise that not everyone is going to support you, if you believe in your idea and it has room to evolve and become successful, go with it. You will find those who are willing to support you.
5. Realise your strengths and weaknesses now, don’t follow the crowd and the norm. Be true to yourself.
6. Wake up with a passion and desire to learn more, not with the ‘I can’t wait till Friday to have a weekend of’ mentality. If this is the case then you’re not doing something you love, which makes you unproductive and the company you work for unproductive.
7. Don’t let money be an obstacle; many successful businesses have started with very little capital. With ample competitions and funding opportunities, a good idea will get recognised; you just need to be in the right place at the right time.
8. And….its not all about Money. Being an Entrepreneur is more than just earning a wage, or making big bucks. Its about having a dream….and making it a reality.
9. Very Rarely will your first idea be your best idea. Do not be afraid to change your business model and revise your plans if the end goal becomes easier to achieve.
10. If you cannot explain how your business will solve a problem within one minute of pitching your idea to your friends and family, the chances are, that you don’t have a business in the first place.
11. Every business must have a ‘Transaction’ that makes money. Even a Social Enterprise or a charity, must have a ‘cash transaction’ to be profit based. Ask yourself what your core ‘transaction’ is.
12. Remember why you want to work for yourself in the first place. If you want to lead, rather than be lead. If you want to make all the decisions, and not be told. If you want the pressure of paying bills and wages, rather than being paid and if you would rather work outside the realms of 8am – 6pm, then perhaps being an Entrepreneur is for you. Now…you just need to come up with an innovative and viable business idea!
13. Don’t expect every day to be a bed of roses, but if you can take the bad days, then the good days will see you bloom…
I think there are another 101 top tips that could be included in this list…and we would welcome some additional comments below to help out…
To search all of our articles and top tip posts on Startups and Starting out – Click Here!!!