Businessinsider.com states that fifty to sevety percent if all small business tend to fail in the fisrt eighteen months. There are endless risks associated with being an entrepreneur, however in the same article they also state, almost every entrepreneur believes the it is worth the risk. If you feel the urge to take that risk, here are five crucial business to keep in mind:

1. Ask the Hard Questions

It is important to not fall for instant gratification, take the time needed to watch and research the market and ask the hard questions such as: Will I be able to make money? Is there a space that I am filling? How can I  make money? Who are my competitors? How am I different from them? It may be hard to realise what the answers to those questions are, however in order to be successful, they must be asked and answered. You can research your competitirs and potential business partners through Gov Capital Directory in a matter of minutes.

Starting a Business
2. Overestimate Cost and Time

It is important to have an estimate of the money and effort this will entail, after that, just for good measure, ass 10%. Keep in mind that starting your own business could possibly be the hardest thing you will ever do. That being said, do not gamble, have a solid plan as well as the money and effort that you will require.

3. Handle Your Paperwork

Yes, there is an unglamorous side of owning a business of your own and that is the paperwork. It is important to get everything such as taxes, business licenses, accounting, etc in order before the IRS comes around, it will happen and sooner than you think so be smart and have everything in proper, legal order.

4. Visualize Your Success, Be Prepared for Setbacks

Confidence is key to a successful business, there will however be challenges, many you will not see coming soi be prepared. A bumpin the road does not mean you failed, you have to earn your stripes by even in the midst of challenges, accepting, overcoming and always flourishing.

5. Sell Yourself

Perhaps you are not a salesperson, maybe even the word is unpleasant to you, sales however are a crucial part of starting a business. Advertise yourself everywhere you possibly can, with advertisers, customers, investors, family, friends and even on Facebook, never stop selling and promoting what it is you do.

These five steps may seem to be quite basic, they are however crucial to starting a successful business and becoming an entrepreneurl.

3 thoughts on “5 Crucial Tips For Starting a Business

  1. Hey,

    When we first start a business we need a lot of research. New business owners have numerous goals when they’re starting out, including rapid growth and recognition for their fledgling venture.

    The key to a successful business, especially in the startup phase, is to keep things simple and costs low. Costs don’t just mean your monetary costs, but also our time. If we are planning to make our new business full-time job, it’s wise to wait until we have at least some money put away for startup costs and for sustaining ourself in the beginning before we start making a profit.

    Customers perceptions of our business can really make or break a business. Deliver quality experiences and products, and they’ll quickly sing our praises on social media. Fast growth depends on making our current and potential customers happy with their experience. Great informative post regarding this subject and going to helpful for many needy bloggers and online marketers to maximize their productivity level.

    With best wishes,

    Amar kumar

  2. Good tips for new entrepreneurs especially your advice on breaking the business plan down into mini-plans. In my experience I find that writing the business plan is often a daunting task for new folks. On a whole, it can seem overwhelming. Breaking it up into manageable parts makes the process doable. Kudos!

  3. Hey Joan,

    Thanks for sharing such a valuable post including 5 tips for business. These tips are really applicable and handy. These will help many who are going to start their business or have plan in their mind to open any kind of business.

    These five basic rules are the fundamental of marketing and business. One should keep all these tips in the mind if he is going to start a business. I like the tip #3, #4, #5 the most. A businessman must have a habit to handle his paperwork self and must be prepare for the setbacks.

    Glad to read the post and keep sharing.

    With regards,

    Suraj Kumar

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