Things every entrepreneur should know, that nobody teaches when starting their first business!
Well, entrepreneurship is a near-death practice, with only a starting point and no end. The only thing that can be sure in this process is "nothing is sure". Therefore, all entrepreneurs should adhere to the ideal, give up fantasy, bow down to the game, trial and error, verification, recover, and improvement.
Without a solid strategy, tools and a competitive business model, your business will fail and you will be burned out.
This is the dark side of things you have to know. Starting a business for the first time is not for the weak-hearted.
First of all, Expect no one to support you and everyone to ridicule and demotivate you. If you get any support, be thankful for it. People are stuck in the job mentality.
Rule: Never get sucked into showing off your wealth for respect, it’s futile.
Try to understand: Everything that can go wrong will go wrong. Have a plan B as good as plan A. You have a 50/50 chance of failure, no matter how good your goals are. So be prepared to fail, for success, no other preparation is required. As soon as you commit to doing business, your life will drastically change. Your lifestyle is not going to ever be the same. Your values, priorities, habits, ambitions, and aspirations will take a whole different form.
Besides, you’ll have to sacrifice everything you like about normal life. Literally everything. Your comfort, steady income, dinners in fancy restaurants, regular trips to the shiny resorts, long vacations, Everything. You are not likely to have or do any of those things within the next few months or even years.
Check if you playing well in the field, Never share your failures with anyone. There, I told you, the crowd is dying to hear it. Share only your success because it will also reflect on your future investor's opinions about you.
There will be times when you want to give up. Unfortunately, the deeper you are in, the harder it is to do it. (Keep working hard anyway)
Never cheat your way into anything, sooner or later it will bite you. Your enemies and competitors will use it against you. Be as ethical and legal as a proper person should be.
Mainly, reasons for starting a business always vary, but the ones that end up succeeding in their business are the ones that are driven by a cause that, to them, is greater than anything else.
Double Check: If you’re successful, be sure to get a finance-savvy person into your company soon. This person will make the difference between doing ok and doing great.
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