Business For Beginners (copy)

Setting up your own business (copy)

Setting up your own business

 Nothing can be as exhilarating or as frightening as setting up your own business. Remember the first time you swam in deep water. You felt trepidation, fear and finally immense satisfaction when you found that you could indeed move around in deep water without drowning. This is how it is with business. You are nervous at first and a little fearful, but as you make a little progress and find your own feet, you feel a sense of pride and liberation. You are the master of your own destiny, and tow nobody else’s line but yours.

Why set up your own business? (copy)

Why set up your own business?

There are several reasons for one to want to set up one’s own business. One may be the kind of person who is naturally entrepreneurial. In that case a job would be something that would stifle you. You could only excel if you did something of your own. For others the great incentive is that you don’t have to report to another individual called your Boss. You can make your own decisions and take the good with the bad. If you are prepared to do that then the world could be your oyster. You don’t have to follow someone else’s 9 to 5 routine. You can have your own set of deadlines and your own routine. However, you will have to follow a disciplined regime of your own if you are to take your business in a specific direction. One of the biggest motivations to establish a business is the urge to make money. If a business takes off and does really well, no job will ever be able to match the kind of money one can make. If you think you have a great idea to make money, you may want to get on with it at the earliest. You may also want to start a business to supplement your existing income. This is especially true of recessionary times. Sometimes you may even start a business because you don’t have a job. Some of the greatest businesses of the world were born out of adversity. There are other reasons for wanting to start a business. You may do it because you don’t like the daily long drive to your office, or you might just not like the nature of your present occupation.

The Obstacles to Business (copy)

The Obstacles to Business

Starting and running your own business was never ever going to be a bed of roses. There will be obstacles that you will learn to negotiate and overcome.

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Overcome obstacles to business (copy)

Tips to overcome obstacles to business

Passion

Remember that passion comes with a price tag-­‐the more the passion the higher your price tag can be. Start something you are passionate about, neurologically, you will do more of it and ultimately become the best in your field.

Mind your company

There will be those who will always show you the flip side or the half empty glass. Keep away from such people and keep the company of doers and positive people. They will put you on the right track.

Support system

Have a mentor, someone you don’t necessarily have to pay. Someone who has knowledge & cares and who will advise you in an unbiased manner. Have a family member or a friend who listens and wants the best for you (even if they can only listen).

Keep at it

None of the huge success stories you keep hearing about had it any easier than you. So keep at it and never despair. Others made it through before and so will you. According to Napoleon Hill’s Book – “Think & Grow Rich”, the millionaires who made it, were the ones who had made a decision never to give up and to stop at nothing until they were successful in business.

Keep your mind and body health

Take time off from work occasionally. Spend time with your family or go visit a friend. Getting some fresh air sometimes works wonders at changing perspective. Come back inspired.

Don’t micro manage

You will not be able to do everything yourself, though you will be tempted to. But that is only going to tire you out. Delegate and outsource what can be and instead focus on the critical tasks at hand.

Get a partner

 Taking on a partner can be a stroke of genius. A partner will not only bring in additional resources and expertise he or she will also share responsibilities, thus lightening your burden. 

Be Flexible

Business is not only about grand visions and steadfast faith. It is also about taking flexible decisions, and thinking on your feet.

 Become marketing centric

Nothing oils the wheels of a business better than a robust marketing effort. The more money you make, the more you can both grow your business and your income. 

Strengths & Weaknesses

 Know your strengths & weaknesses. Never try and do the jobs that you dislike. Always concentrate on the jobs you are good at and do more of it. Outsource the jobs you don’t like to do. Not everyone can do everything; so don’t