6 Tips For Budding Entrepreneurs

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Posted on: 15 November 2018 by Morgan Franklin

Becoming an entrepreneur can be rewarding and life changing for you and others around you. It’s also extremely difficult and can be very stressful.

 

Becoming an entrepreneur can be rewarding and life changing for you and others around you. It’s also extremely difficult and can be very stressful.

 

Let's take a look at 6 Tips for budding entrepreneurs...

 

1.Plan Plan Plan

 

Launching your own business is incredibly complicated. Whatever you think you have to do there’s going to be double. Meticulous planning will help decrease procrastination and increase your productivity.

Small daily tasks will enable you to release your intentions and help you relax when the work is complete.

Creating lists will ensure you are able to handle obstacles while knowing what’s coming up next.  A regular routine is the antidote to stress.

 

2.Get Up Earlier

 

Studies show that our brain is at its optimum in the morning. Tim Cook wakes up at 3.45am while Richard Branson rises at 5.00am. Replying to emails is a great idea first thing in the morning as they will have your full attention. Planning for the day and scheduling meetings in the morning gives you the rest of the day to get on with your work.

 

3.Importance of the Team

 

No one can build a successful business alone. You'll find delegation tough at first but you'll have to do it to get jobs done. Hire two hard working people rather than five wage collectors. Hire people you admire or even who you think might be better than you.

Human resource is one of your biggest investments. Treat people right and build relationships. Create a happy and caring atmosphere built on trust and respect.

 

4.Be Prepared to Fail.

 

You will fail. You only have to look at entrepreneurs such as Elon Musk and Sir Alan Sugar to realise failing part of building your business. Failing is learning and your business will be better off for experiencing these situations throughout its course.

 

5.Take Breaks

 

If you work so hard you burnout then you and your business are in big trouble. 72% of budding entrepreneurs suffer a mental condition called ‘Founders Blues’. This is a constant state of anxiety due to high levels of stress. You must learn to disconnect yourself from your work. Spend a day hanging out with friends and family. Go to the cinema, take a walk - anything to help you relax. Perspective is essential, tell yourself ‘i've got my health, my family are ok, all problems can be resolved’.

 

6.Remind Yourself Why You’re Doing This

 

If financial gain is your only goal then starting your own business may not be for you. Your business should be built from love.

Your aim should be to make a positive change or impact on the world. How does your business benefit people? Why did you want to start this business in the beginning?

Wake up in the morning with positive vibes and feed off the vibes of others. Remember, you're here to make a difference.

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