How to Start a Business | August 7, 2012
Dr. Wael Badawy, IntelliView Technologies Inc., Calgary, AB; Umm pay someone to do your assignment Al Qura University, KSA; firstname.lastname@example.org, CYBF Mentor
I learned the following tips during my experiences as an entrepreneur, which can help you along your journey to achieve (and maintain) a prosperous business, while also balancing your emotional wellbeing.
1. Remain focused on your business plan
When starting a new business there is an endless energy that can go in many directions. The best advice is to focus. Focus on your primary product, customer and investor etc. This will allow you to succeed in a shorter amount of time with fewer resources.
2. Be clear on how you generate revenue
Your business plan should clearly state how to make money. Sales in any format will be the sole source for long-term sustainability.
3. Understand your vision
If you cannot articulate your vision, you might as well stop business right now, as no one will see the value in investing in your company (not even potential customers).
4. Be passionate
Passion is the key to success. Having the ability to rebound from mistakes or a wrong decision is driven by passion.
5. Follow your gut feeling
You are the one with the vision and passion. If you find yourself having difficulty making a decision based on the input you’ve received, which can happen in the early stages, then follow your gut feeling to lead you in the right direction.
6. Become the role model
Act wisely because everyone is looking to you as a role model and the source to answer many questions. Everyone will come to you with inquiries about the business and if you do not have the answer just help them to find it.
7. Remain committed to your business
Starting a business is a commitment to success, to your employees and to your customers. You cannot just say I will run it for a year or two then quit. You cannot and should not quit your dream.
8. Think big
Rethink your business into something bigger. Do not be shy of it, you can do it. You’re solving the world’s and/or an individual’s problems with your current business. If you can visualize it and articulate it, your business will grow to higher levels and most likely be acquired by the big sharks.
9. Enjoy the entire process
You must enjoy your business, during both the hard times and good times. Yes, you have to enjoy the difficult patches and if you cannot, ask yourself how to enjoy them because you cannot just quit when the going gets tough (see advice #7).
10. Find balance in your life
I made the mistake of working extremely hard without balancing time with my family. My children are growing fast and I missed all the fun in their early ages. Do not repeat my mistake, please. Life is too short so enjoy every aspect of it fully.
Practice these tips and you will be successful in balancing a fulfilling career and lifestyle.