5 Tips To Be A Successful Entrepreneur
Everybody wants to start a business and believes that they can do it without by Blogging or Playing Games in the new Play2Earn space. Just posts a blog or playing a game to earn small amounts of money is not a business.
Here are 5 Tips to Follow if you really want to be a Successful Business Entrepreneur:
Entrepreneurs Take Calculated Risk
People think entrepreneurs are risk takers, blinding going where others fear to tread. However successful entrepreneurs don't like blinging jumping into things. They do their research and due diligence prior to starting the endeavor.
Don't get me wrong, entrepreneurs are risk takers but the successful ones are calculated risk takers. They know what they are getting into prior to starting.
TIP: Do Some Research Before You Start
Think of What You Do As a Business
A successful entrepreneur knows they are working on a business. They are keeping track of Income and Expenses. A successful entrepreneur keeps their business money separate from their personal funds. They know how much they are spending on their business and how much income is being made from all of their activities.
A successful entrepreneur knows if their expenses are greater than their income, they will not be in business for very long. They also know there are regulations that must be followed. If you are in a Business, research what those regulations. Most countries require businesses to follow certain regulations like paying taxes. Sometimes the powers that be may not know you are in a business but if you promote yourself as a business they will find out sooner or later. Treat what you do as a legitimate business not as a hobby.
TIP: Know your Business Finances
Create a Plan of Attack
Now that you know you want to be a successful entrepreneur with a business you need to create a Plan. You could create a formal business plan. However some think this is to complicated and do not think it is worth the time.
I beg to differ to be in a successful business you need a plan of attack. Maybe not a long 15 page formal business plan. To be effective, you do, however, need to know on what your business is focused, what your ultimate goal is (where do you want to be in 5 to 10 years) and what steps you are going to compete to get there.
It can be as simple as writing a paragraph or two with this information. Having a plan of attack and then tracking to the plan lets you know the progress you are making. It also lets you know what is working and what needs to be improved upon. You can always add to your written plan or modify it as you go but you do need to have a plan to follow if you want to be successful.
TIP: Create a Plan
I like using the a 30 day calendar to plan my topics and then reflecting which Blogs I actually completed and posted on each day of the week. By doing this, it helps me stay focused.
CTPTalk shared this with all their members for their CTP Content Challenge and I find it very useful and have continued to use it.
Learn From Others
Some Entrepreneurs like to do everything themselves. I believe you should use the resources that are available to you. CTPTalk.com and ClickTrackProfit.com are focused on helping online entrepreneurs grow their business. They are a great resource and are very helpful.
Why spend time with trial and error when there are others that have experienced most of this before regarding starting a business? Use the sources at hand and do not be afraid to ask questions. The only dumb question is the one not asked.
You will save a lot of time and make less mistakes by learning from others.
TIP: Ask questions to assist with learning.
Commitment & Dedication
Finally most people do not consider the time, commitment and dedication it takes to be a successful entrepreneur. Everyone wants to be in business but not all of them want to commit the necessary time and effort that is needed to be successful.
You must show up every day, put in the effort and deal with disappointments along the way. It will be very draining to get your business started but when you start seeing benefits and value, you will know that all of your time and effort is worth it.
Most give up after a few months because they believe they are putting to much time and effort into their activities. Remember, not all businesses succeed and last more than 1 year much less 5 years. They take a lot of commitment and dedication.
TIP: Don't give up at the first sign of challenges. Push through and keep going.