7 Secrets You Need To Know Before Becoming An Entrepreneur

7 Secrets You Need To Know Before Becoming An Entrepreneur

Things To Know Before You Invest In Any Online Business

It happens that in this current world, ignorance has seemed to be the secret devourer of our long-lasting dreams. Before we go further, let’s shine some light on this devourer called Ignorance.

What is ignorance? Ignorance really means ignoring the knowledge even while it’s available to you. Therefore ignorance should by no means be your choice. Till Today, Success will only be a mystery to those who choose to be ignorant over available Knowledge and information.

The secret I’m about writing shouldn’t be ignored by any aspiring Entrepreneur. The interesting thing is, if you follow this secret, you will definitely arrive at your desired wealth creation destination.

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Also Read Things To Know Before You Invest In Any Online Business

It’s Takes Time

This is the first mistake most aspiring entrepreneurs make. Most people think that having enough capital and getting a big business plan and business space is enough to kickstart a flourishing business. They fail to understand that business is a long game not a short gig. It’s not something you start today and expect to take over the space sane day, they forget that it’s more a marathon than a sprint. Things take time, and building a successful business is no exception. You should be ready to invest and dedicate the next 5 – 10 years of your life to build your brand to the standard you want. So before jumping on that new idea. Think again if you are willing and able to commit that much time, energy, and resources to build this organization.

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Set Realistic Goals

To be truthful and not to scare you, this is definitely gonna be a very hard journey so, it’s advisable to set realistic goals and targets. Some people jumped into Becoming entrepreneurs thinking that their businesses would make them the next Bill Gates in no distant time, along the line, when they fail to achieve that big targets of theirs in a short time, they get frustrated and cut short their dreams. The likelihood of your business making your wealth is as low as 0.00000001% because there are millions of the same businesses out there to compete with yours. It’s advisable you set more realistic goals like becoming a thousandaire or millionaire in five years instead of becoming a billionaire in five years. With the latter, you would be more joyful in your journey. Instead of waiting to achieve the BIG billion goal first before becoming happy.

Enjoy The Journey

The most important part of running a business is enjoying the daily journey. Don’t let anyone make you feel that the only time to be happy in your business is when you hit a big target or make money.¬† That mindset would only lead you to depression because this journey is not that smooth as such mindset. In business, you ought to celebrate your small wins as much as the big ones because from small progress comes the huge ones. it’s better to be joyful with 40% success than sad about achieving only 60%. Believing the glass is half full makes a person more joyful than believing the glass is half empty. Joy is more important than money or achievement.

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The Most Important Element Of Your Business Success Is Your Team

I was constantly told I must have a vision of the future, passion to drive my idea/product, discipline to stay on track, and many other nice things. I wish someone had told me that 90% of my success depended on the quality of my team. I was told to be persistent and to “Perspire to acquire what you require or desire, and if you misfire, refire so that you won’t retire”. All these types of BS quotes are for lone stars or sole proprietors and not for team leaders.

7 Secrets You Need To Know Before Becoming An Entrepreneur

 

Plan And Act Accordingly Because Business Is A Career

Viewing a path as a career makes people be intentional and thoughtful and they also tend to be original instead of copying others. For example, if a person intends to become a doctor, engineer, or artist, right from childhood, they give priority to certain subjects and stay clear of others. It’s the same thing with business. A person must think ahead and determine which sector/type of business they intend to get engaged with. And make up their mind to stay focused on that industry for a long time. Just as it’s myopic/
difficult to jump from becoming a medical doctor to becoming an engineer within a 5 years timeline. It’s also not smart to jump from one industry to another within a 5-year timeline. Take time to build expertise and stay long on one matter.

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Try To Have Some Work Experience Before Starting Out On Your Own. 

I have come to observe that getting a job and working for someone else has a huge benefit compared to just jumping on your own business. The benefits may not be financial (except you have a nice salary and benefits) but the quality of person you become will be far better.

Never Borrow Money To Start Up A Business 

As an employee my Boss use to say, “Never borrow money to start up a business rather borrow the money to expand your business”
Because the starting point of the journey of every entrepreneur is full of uncertainties, never borrow money when you want to take any uncertain financial risk.

7 Secrets You Need To Know Before Becoming An Entrepreneur

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