When entrepreneurs read “How to Get Rich” books they usually entail a slogan. A
mantra, if you will. A phrase that you must repeat to yourself over and over again and
if you believe it, you can achieve it! Well, we are going to make this very simple for you
and just give you a few tips on how to succeed. Besides the formal stuff like your idea
and how to market it, you already know hard work is a large part of the equation. Our
mantra will be: Cash is King. So don’t forget it or you’ll regret it! Okay, that’s the last one
I promise. Well, perhaps.
CASH IS KING
Successful business owners have a lot of things in common. Some have better start-
off points than others and some have more know-how. The only setbacks that set you
back are the ones that you allow to fringe upon your business. You have to remember
that Cash is King and you can only afford what you can afford. Don’t have eyes that are
bigger than your stomach, in a business sense. You can reach for the stars but making
mega millions takes time and… guess what!? It takes millions of dollars. But that’s okay,
no one really starts out as a millionaire and hopefully these steps will help you get to
where you want to be. You want to stay in your financial realm and expand as your
finances expand. Don’t lose sight of this. The first few years will be hard and you will be
a little bit in the red, even more so if you take out a loan. Just be smart and frugal, until
you can afford not to be.
Unless you are super confident in your business skills, chances are you already have
a *great* idea! And that’s awesome. But, you will want to make sure that your idea has
merit. Is it something that people need that they have trouble accessing? The best
ideas come as solutions to problems. This will also help to motivate your business.
Who doesn’t want to make a difference in their customers’ lives? While other ideas can
come from talent, you want to find a creative angle to selling everything, including your
business. And, yes, from here on out you are a salesman/woman and a businessman/
woman. Congratulations! A big part of being in business is selling something whether
it’s yourself, your product or your services.
RESEARCH, RESEARCH, RESEARCH
Keep on learning! While the “stay in school” slogan was really important, it was
misleading. You don’t stop learning when you get out of school, on the contrary. You
should always be researching about your field because things are constantly moving
and changing, especially in the business machine. Take classes, seminars, network…
get your face out there! Also, it’s just a bonus that as you continue to learn, you cause
your brain muscles to flex and therefore helps your memory as you get older instead of
Learning new business techniques, whether its manufacturing or marketing, can really
make your products or services more accessible. Don’t have social media accounts for
your business? What have you been thinking?? With 90% of your clients on Facebook,
how can you afford to ignore them? The answer is you can’t. Social media and new
technology are just some of the ways researching what is new can make you more
money and expand your small business.
DON’T THROW IN THE TOWEL
When you want your idea to succeed, start off knowing that you cannot quit. You have
to make this idea work and you must know there is no other option. While it may not
make you rich, it will succeed the best way you know how. True entrepreneurs don’t
give up on an idea. They never throw in the towel and therefore, succeeding is the only
FAILING IS FUN!
This is the big secret. This is the number one thing that will make you a real
entrepreneur. This idea isn’t easy to come by and especially after what we just talked
about it may even seem silly. Failing is fun! Let me explain. As I said above, failing is
not an option. That is because failing is never the end. You fail, you research, and you
try again. If failing is the end for you, then you might not have what it takes to continue
on to success. Find new ways and implement them into your idea. While your business
can evolve and become something you never dreamed it is important to stick to your
idea and see it through!
Being a successful business owner is not something that I thought about when I was
younger. Most kids don’t have access to people to put them in that mindset. But picking
a career, especially in this day and age, isn’t limited to vocation skills. You can make
a successful business out of any idea. Boy, are we lucky! Take the time to do the
research on your idea/solution to a problem before you spend a dime. Make sure that
this is something you care about enough to commit personal time to and there is no
reason you can’t be a successful entrepreneur too!