Guide for young entrepreneurs
What are some of the Mistakes You Wished You Could’ve avoided?
1. Not properly planning my business from the beginning.
2. Not documenting some of the deals I had with people. Some people take advantage of you since there is no documentation showing that you two are in business
3. And also putting too much trust into people thinking they will always be there to help not knowing they also have their problems
Before you invest in any business, be sure of the dangers and risks… Do not be overwhelmed by the profits for every business has risks….
Nonetheless, once you ask questions, measures should be put in place to avoid some mistakes…. Great care must be taken into consideration….
The fear of trying and failing is killing a lot of people. Most people are scared to start something new on their own and when they get the motivation to start, they are like “what if I fail”. What if you succeed?• Keep trying and work for what you want.
• Change your mindset. It’s everything you need to succeed.• Put in the work. • Put your knowledge into Action.• Don’t be a deadbeat… Only talking no action. Walk your talk.
You don’t really need motivation from me or someone to do what you want to do…. You just have to inspire yourself cos a time will come when you feel like given up. Never give up please. Keep trying
Don’t forget to always learn. Read read read. And save at least 10% of what you earn.
Everyone should try and learn a skill.
If you have a talent develop it.
Lastly learn to brand your skill or talent to attract market
You must have so much confidence in their marketability that you are willing to undertake financial risk and invest so many hours, weeks, months and even years to achieve your business goalss, and you must do all this with no guarantee of success. Cos you are taking a risk.
At the same time, you need discipline to curb your confidence, to remain objective and realistic
You need to set a target for yourself depending on who you are and what you are doing. Be specific about your financial goals.Remember you cannot hit a target you cannot see. So set a target for yourself. Don’t just say I want to be rich and when you asked how much money you are going to be make this year, then you say Allah knows best
Running your own business means you will be doing everything by yourself and those people are what we call self employed. Don’t be a self employed person but rather create a business (a system) and build it with your team. Be focused if not you fall out of line
If you want to go into business, know that it’s not going to be easy. There are a lot of negative emotion from the other side. Setbacks, disappointment, you have people discouraging you, a whole lot. Just keep working hard at what you want and keep your focus.
The primary aim of every business is not to make profit but to keep customers. It is your customers who will bring you the profit you want to make. So you need work on how to handle people and keep your customers for they will either bring you more customers or drive your customers away.
Entrepreneurship requires a lot and that’s why you should work on yourself and do research about the business you want to go into.
The most important thing you need is discipline, holding on to short term gratification for long term happiness
“Nothing is more harmful to the service than neglect of discipline; for it is discipline more than numbers that gives onearmy superiority over another.”
And again don’t calculate your profits based on assumptions. Be realistic and also make sure you have an idea about your products.
Very important, always document your business when dealing with people. Documentation is very key and always keep records of your sales