What is the best advice you've received as an entrepreneur?
I am a recent graduate from Boston College with a Business degree and English Journalism minor. I've recently begun putting together my own portfolio of personal content creation. I'm dabbling in the idea of doing a piece on entrepreneurship. Any answers to why you became an entrepreneur or great advice you've received will be really appreciated in giving me a better understanding of the career.
Hi Morgan, the reason why I became and entrepreneur was because of my Passion for my work. I wanted to do it on my time, my way! The best advise given to me by two different people, was "Following your passion will give you more satisfaction--and ultimately more money." If you are passionate about what you do, as an Entrepreneur you will do MORE than just survive!
Well, my advise for prospective entrepreneurs is to get a full time job first. This helps you know what it means to work and how an organizational structure operates. You also then see the real life in a business and know the pitfalls you can avoid once you start out on your own.
In my experience what i got from my well wishers is, an successful entrepreneur should wait for at least 999 days to understand the market pace and ease of doing things. So, your work is all about with cool piece of mind, which give a fresh idea in your work, which could lead to a successful career.
I think freedom of work at your time and place was the important point for me to choose entrepreneurship.
With 3 years of experience as a full-time freelance writer, the most important key for success is to set clear, actionable goals and hold yourself accountable to them. It's easy to get caught up in the little things that don't generate income and don't serve to grow your company. Make daily, weekly, monthly goals and review your progress every day.
1. Avoid hiring mistakes. Be very careful to check references. Learn how to interview. Hiring mistakes can sink your business quickly.
2. Know why you are doing what you are doing. If the answer is to make money, try again.
3. Once you've completed #2, make certain your actions show it.
4. Develop intellectual property to achieve credibility and set yourself apart.
5. Gain a reputation of being a great employer. Happy employees make for happy clients
6. Don't skimp when it comes to good accounting and/or legal advice.
7. Develop a trusted relationship(s) with your #2 person.
8. Constantly read...EVERYTHING you can get your hands on both business and non-business related.
9. Become a public speaker
10. Be open to helping others who are about to start on the path you once took.
Build a close circle of professionals whose strengths are your weaknesses and foster those relationships. With that done, you can tackle any problem. It's all about acknowledging your strengths and weaknesses and using that information to be better.
Because I wanted people to add a tWist to their lives. This has been driving me for 15 months. The big picture: Start with a purpose, aka: a real problem. Otherwise its just impossible to survive the hurdles.
Pinpoint what you do best. Become extremely good at it, and hire everything else. You may have heard it put "Do what you do best and hire the rest"
Believe in yourself. Set clear goals. Do the work (Persistence).
Always have a back up plan and a back up for the back up. We plan so well still things happen. So having that back up helps us make better or more confident last minute decisions. Best of success. Gil
I became an entrepreneur through an idea about an innovative product that if available would be profitable. But as you go along w/ your business endeavor the idea itself is not enough thus business prudence, strategies and others were required.
From my experience it is really a good start to have a branding brief then comes the rudiments of business development. As an entrepreneur one must throw himself in the dirt and in the frontline, be the God of your product then hope for the best and plan for the worst keep w/ you a contingency plan always.
Along the way and working for some great people on the journey, three thoughts come to mind as regards great advice. 1. No customers = no business 2. Always pay your accountant and attorney on time. 3. Learn more about people than you do about your product or service.. Each of these was passed on to me and as time has progressed, I have come to see the relevance in each piece of advice.
Worry less about doing it right and more about getting it done.
When I asked a wealthy and succesful business man the secret of his succes his answe was 'he sold too soon,'
Where do success come from?...Good Decisions!
How to take good decisions?...From Experience!
Where to get Experience?...From Bad decisions!
Not a single day is wasted - if you succeed you are a step ahead; if you fail you have learned a lesson! When you lose, don't lose the lesson...!
The short answer to your question is "Because I was tired of hearing 'You can't do that' from my managers and peers.". In any position or career you choose in life, there is nothing more gratifying than to know that your work, your contribution, is appreciated and that you have made the world a little bit better for your efforts. Yes, it is also good to get paid for those efforts, but if you do your job well, the money will naturally follow. As a business owner, I am free to pick and choose the projects that I wish to work on...and hopefully they all bring me gratification. There are still some loser projects from time to time, but at least I am charting my own course and not being told what I am allowed or not allowed to do.
My advice? Have a clear long-term goal (10-20 years out). Then break up that goal into a number of short-term goals (or sprints) that can be achieved in a year or so each.
Entrepreneurship is not about a profession or a career, it is a lifestyle!