Even with all the money and time invested, it is very difficult to start a long-term business. Except in rare cases, continuing full-time work is the best approach for start-up business owners.It’s also the most difficult approach because it requires sacrifice, discipline and great effort.But that’s not a problem.
Here are 8 steps to minimize risk while building a solid foundation for small business success:
1. I live as a college student.
Almost all businesses require you to spend money before you can make money. (And if you don’t need money, then of course there is time, and time is money.) Some small businesses take years to make a profit. Many startups fail because they don’t have enough money. decisions. Do not assume that personal savings will appear through you. Before you start a business, reduce all personal expenses to a minimum.
2. Work incredibly your current job.
If the capital and cash flows of small businesses are limited, loss of income is the last thing you can buy. Work incredibly hard, so your evening and weekend hours belong to you, not your employer. You’re going to need this. Set a difficult schedule. When the “normal” working day ends, the start-up day begins. Then stick to that schedule. Then work out your schedule.
3. Set the rules and follow them yourself (and flip it over).
Did you know that it is illegal to live with a company or member of 10 countries? It doesn’t matter because it’s the law. This rule is not respected by those I work for. If you don’t follow the rules, regardless of the rules. ? Sounds dramatic
4. Understanding the economy of units as the back of the palm.
In retail, they say, “We’re losing all our sales, but we’re setting them up in large numbers.- Gradually you’re going bankrupt. Move a million units there. Not a place to make money where you earn money from everyone. The unit of measurement that you sell, if the economy of the device is unavailable, the ship will eventually fail.
5. Enjoy the business while you build it.
It’s tempting to reinvest every penny. What you are waiting to make this day a great millionaire may happen, but most likely it will take longer than expected. Don’t sacrifice your gifts for the future. It’s never going to happen again. Learn to sell. Business owners always sell what you sell to your vision. For employees and shares. He sells the product to the customer to whom you sell your dreams. To your family, if you’re afraid to sell. You won’t win the limit
6. Enter the right of law.
Ignorance of the law is not good. Protect from this: find out what your company needs to continue doing business. Get an idea of the tax requirements. . Please call a lawyer. Call the accountant. It’s cheap insurance.
7. When you buy a mentor, you don’t know everything.
You never know for sure. This gift and business curse of facilitators can help you balance experience and perspective when you face a difficult task. At the same time, they are several steps ahead of you and allow you to accelerate your growth.
8. Open a solid view, but don’t worry about the details.
It is important to know where you are going as a company, but the path there must be flexible. You may have invested a lot of energy in the product, but if it doesn’t work, reduce your losses and move on. Don’t kill yourself. we live in a society. Celebrating hard work, there’s nothing wrong with that, but the concept is distorted. And it’s great to work all day, every day. No, they’re not the ones taking a break. Then leave it all. Give yourself a chance to go upstairs. You’re glad you did it.. Learning to fail can be the most important part of every council. . You fail and make mistakes. As expected, most people leave. Instead, analyze the cause of the failure. Write about it, gather and discuss in a team and make changes so they don’t happen again.