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8 Tips You Should Know If You Want To Start Your Business Successfully

8 Tips You Should Know If You Want To Start Your Business Successfully

As Scott Belsky said, “It’s not about ideas. It’s about making ideas happen.” It’s really not that the success of an idea depends on its uniqueness and potential foremost. Rather, it depends on how you bring the idea into action.

You may have heard, as an entrepreneurship enthusiast, people calling an idea a “billion dollar idea”. However, ideas in themselves are of negligible worth. It’s hard to sell just an idea for even a few thousand dollars, unless you’re an expert salesperson.

Don’t get me wrong. I’m not trying to undermine the value of an idea at all. In fact, a concrete idea is the first and foremost thing that you need when starting your business. However, there are plenty of other variables which determine whether you transform an idea into a successful enterprise or not.

Here are some tips to help you if you want to get your business of to a successful start.

1. Identify strengths and weaknesses

A common fallacy among young, enthusiastic entrepreneurs is the invulnerability regarding their idea. It is convenient to believe that your idea is impeccable. This however is not always the case. No matter how brilliant an idea is, it will have shortcomings.

A proper analysis of strengths and weaknesses of your idea will help you understand its actual value. It can help you identify risks and difficulties in implementing your ideas. Furthermore, it can reveal opportunities that you are unaware of.

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Once you identify the strengths and weaknesses in your plan, you can decide how much time and money you will need to put into the endeavor.

2. Create a business model

Your idea is not going to earn money by itself. You need to find the best ways to milk money from your idea. You will need a proper business model for that.

A proper business model will help you figure out elements such as who your customers are, which demographic your idea appeals to, what marketing approach you should take, what are the company’s capital and resource requirements, and how does the company plan to manage its operations as it grows.

A business model helps you to set clear financial goals and develop a proper implementation strategy to achieve those goals.

3. Take feedback from experts

One of the biggest mistakes young entrepreneurs make is that they don’t care to take any suggestion from experts. They feel their idea is solid and see no need for any feedback.

However, with years of experience under their belts, experts can understand the multiple aspects of your enterprise in a much more dynamic and realistic manner.

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Taking feedback from experts will help you to take a better approach towards implementation of your project and will also introduce you to difficulties or problems you might not have considered previously.

4. Form an alliance

If you think you alone can successfully grow a huge enterprise, you are wrong. If it’s a small scale enterprise, you could do it on your own. But even in that case, teamwork helps a lot.

You need to find a group of likeminded individuals with compatible skills who add to the value of the group. It’s best to go for people with different skill sets.

It’s always better to form a group that includes a developer, manager, designer, marketer and business analyst than one consisting of all developers.

5. Know your competitors

You might think that your idea is one-off and never thought of before. But there is a high chance somebody else has already thought of it in one way or another.

Whether the idea is a novel one or quite common, you will always have competitors, both new and those with years of presence in the industry.

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You should give plenty of thought towards contending with the competitors, existing and potential ones alike. And, outsmarting the rivals should be more than displaying more captivating ads or glossier banners on your building. Here are some great ideas on where to put those vinyl banners. The main focus should be on providing better customer experience than your rivals.

6. Earn your team’s support

Just increasing the number of heads in your team doesn’t achieve anything for the success of your enterprise. You need to build a solid team.

You need to build a cohesive team where individuals add up to each other. For that, the most important thing is to build a sense of trust and belief within the team.

You need to earn the support of your team. You need to instill belief in them that your enterprise is going to succeed. You might even need to make compromises in doing so.

7. Focus to boost skills within your team

For the continuous growth of your business, the team members also need to grow constantly. That requires continuous increment of individual skills.

Even when the business is not really succeeding, you need to find ways to aid in the boost of individual skills of team members. The members should constantly upgrade themselves for the betterment of business as well.

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It might be hard to do so in the beginning, but you should set aside some amount for training of the members, their recreation and also challenge them at every step.

8. Expand your idea

Ideas often arise from that sudden spark, when you feel you have come up with something big. At that point, you could even explain your idea in a sentence.

But ideas continuously grow. You might start with something elementary but, after lots of brainstorming and planning, you add more aspects to your idea.

With the growth of your business, you should continuously work on reforming your idea. You should regularly refine it, adjust requirements and try to continually assure that it is relevant.

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Nabin Paudyal

Co-Founder, Siplikan Media Group

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Last Updated on June 19, 2019

8 Life-Changing Skills You Can Learn in Less Than 6 Months

8 Life-Changing Skills You Can Learn in Less Than 6 Months

Everyone has the ability to learn a life-changing skill not just this year, but in the next 6 months.

By life-changing, I mean something that can have a positive impact in your life moving forward, even if it’s something you can’t envision today. Certain skills we can immediately reap the benefits of, while others will be life-changing when we least expect it.

In this article, we’ll share 8 life-changing skills you can learn in 6 months, where you can learn them, and how you can get started today.

1. Speed reading

Bill Gates has been known to state that if he had one superpower, it would be the ability to read faster. What Bill and the rest of the mega-successful understand is that knowledge is power. The ability to process information faster from books, articles, and reports is what will help us learn faster, and therefore improve each aspect of our life faster as well.

Where you can start learning: Speed reading courses are becoming more popular, as more people realize how important it is with the limited time we have. You can check out free courses like Read Speeder or you can start learning how to use Spritzlet, which allows you to speed read articles online with a browser extension.

2. Public speaking

Research shows that people fear public speaking more than death itself. There’s something terrifying about being in front of dozens or hundreds of people, and exposing yourself completely. It’s when you’re most vulnerable, but learning how to public speak is a life-changer.

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Warren Buffett has given advice to recent graduates that the number one skill you can have to succeed is public speaking skills. Everything from communication, confidence, and sales is developed when you develop your public speaking skills.

Where you can start learning: Luckily, there are great communities out there like Toastmasters that organize local meetups all around the world. You’ll find amazing public speakers that are looking to get to the next level to beginners that are just getting started. Check out Toastmasters’ website here.

3. Spanish

As the third most spoken language in the world, the ability to speak Spanish will allow you to reach over 500M people around the world. No matter where you live, knowing how to speak Spanish is becoming increasingly more important, with the Hispanic population and economy spreading quickly worldwide. If you’re living in the US, this is even more important, with over 30% of the population being Hispanic.

Spanish is also on this list, because it’s one of the easiest languages to learn. Sure, Mandarin is an important language to learn, but it’s an incredibly difficult one to learn. If we were to measure the level of importance and the time to learn for all the languages available, Spanish would make it to the top of the list.

One of the biggest reasons why people never reach fluency in any foreign language is: using the wrong method, and lack of time.

It turns out that humans retain only 5% of what we learn from lectures, 20% of what we learn from apps (visual cues), and 90% of what we learn from immediate immersion. Yet, how do 90% of learn a new foreign language? Language schools (lectures), books, Duolingo (apps), etc that don’t provide the real-life immersion required for our brains to learn faster.

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Where to get started: If you want the most effective way to learn a language, learning from real-life interactions is the best way to do it. There are great websites like Rype, which offers Spanish coaching for busy people, solving the issue of lack of time and bringing real-life immersion to your screen. With Rype, you can book as many lessons as you want, at any time of the day, any day of the week, allowing you to fit it into your schedule, no matter how busy you are.

4. Accounting

If you’re looking to get into business, accounting is one of the core fundamentals you’ll need to succeed. While you don’t need to be an expert, you definitely should understand the basics.

This skill can also be used to manage your personal finances, to meet your financial goals, and having more control over your life.

Where to get started learning: If you didn’t learn accounting in school, no worries. You can either teach yourself using books, or check out free accounting courses online.

5. Microsoft Excel

Most people reading this probably have a basic understanding of Microsoft Excel Spreadsheet. While this is a good start, there are so many powerful functionalities that are hidden, which could make your life a lot easier.

Excel is also a great asset to have whenever you’re looking for a job, as many corporations rely on Excel to organize and manage multiple parts of the business.

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Where to get started learning: With the popularity of Excel, you can find tons of free resources and videos online to learn. Check out Excel Exposure, Lynda, and Excel with Business.

6. Blogging/Vlogging

Blogging is a powerful tool if you want to spread your ideas, build your brand, or grow your business. Since it was introduced, blogging has taken on a life of its own, and today there are ~2M blog posts being written on a daily basis.

Where to get started learning: Anyone can start blogging today. All you need is a content-management system like WordPress, which is completely free. Personally, I think the best way to start learning how to blog is to just start writing. There are techniques you can learn on how to promote your blog, but the best way to grow your blog is to write great content.

7. Weight training

Yes, weight training is a skill. It’s not as advanced as learning how to code, nor will it take as long as learning a new language, if you just want to learn the basics.

We’re not promising that you’ll get a body like Arnold Schwarzenegger, but you will see much faster results for whatever goal you have, just by understanding how to workout properly. And of course, when you’re dealing with an activity that involves physical strain, you’ll always want to caution yourself.

Where to get started learning: There are amazing body builders that are sharing all of their secrets for free on Youtube. You can check out Bodybuilding.com’s Youtube channel to get started.

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8. Photo and video editing

In the digital world that we live in, from Youtube, Instagram, and Facebook, there is no avoiding photos and videos. In fact, social media has increasingly gone away from text sharing and almost everything to photo and video editing.

Where to get started learning: For photo editing, you can use Photoshop. For video editing, you can use iMovie or Final Cut Pro. Keep in mind, there are dozens of editing software tools for video and photo editing, but what’s more important are your editing skills, not the tool itself.

Check out education websites like CreativeLIVE or Skillshare, where you can learn from experts themselves on how to best use design and software tools.

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