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Don’t Start a Business if You Don’t Have these 7 Things

Don’t Start a Business if You Don’t Have these 7 Things

Startups emerge constantly, and many young entrepreneurs are encouraged to start their own business and invest a great deal of time and money into them. However, there are some things no one tells you at the beginning, and are related to your skillset and abilities. Let’s go through the most important traits and abilities you need to possess in order to successfully start your own business.

1. Grim determination and willingness to sacrifice

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    Starting a business isn’t easy, and the fact that many businesses and startups emerge constantly on the market, doesn’t mean you should rush into becoming a business owner. You might think you are determined enough and prepared to make sacrifices, but the question is will you feel the same way when problems start to occur.

    Problems will occur, and you’ll make mistakes, and there’s nothing wrong with it. However, if you fall to pieces, then your business will fail as well. The most important thing is to learn to benefit from your mistakes, and stay motivated and determined no matter what happens.

    As a young entrepreneur, you belong to the millennials who are taking over the market. However, according to many studies conducted, millennials will face a lot of challenges in their career journey. When it comes to sacrifices, the hardest ones will be those related to private life and your family. Others are related to taking the right business opportunity, risking and making decisions, of which not so many will be the right ones.

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    2. A financial safety net

    As a business owner, you will need to make a lot of investments, but still make sure that you don’t suffer a huge loss that can lead your business to fail. If you aren’t familiar with bank systems and investments, consult with a professional, or several of them. If you consider their advice in the same matter, you will be able to make a good decision.

    Sometimes, whether you will profit or lose your money is a risk, which you need to take. However, at the beginning don’t make rash decisions and risky investments.

    3. Understanding of modern business technologies

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      Startups usually focus on technology helping them to be noticed on the market, which is the right move, but shouldn’t be the only one. You need to develop your professional profiles and gain followers.

      But, small businesses and startups need to focus on technology that will make their work hyper-productive by helping employees to work efficiently, and creating a great experience for the customers. There are many types of software made to improve CRM and track your goals, and you should definitely find the right one for you.

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      Depending on your business, go through different reviews to find great small business software and see if it suits your needs. Ask other business owners which they find the best, and why.

      4. People skills

      One of the most important must-have skills for every entrepreneur, and business owner are people skills. You need to have good verbal communication skills and you have to be friendly. These will help you make the great first impression that can land you a lot of good deals. Everyone will want to have a meeting with you, but the point is that they want to have a second meeting with you and work with you.

      Therefore, if you don’t have much experience working with people, call your friends and start practicing. Also, you can apply for different job interviews, even if you don’t want to work there to practice introducing yourself, and don’t be nervous when it comes to your meetings.

      5. A talent for haggling and problem solving

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        Problem solving is most important for business owners, as you will face many problems, and you shouldn’t point out all the problems, but try to find a solution to them. Don’t focus on the problem, but on finding the solution. Many people fail, because they don’t know how to deal with problems, and just become discouraged. If you are one of them, you might want to consult with someone who faced many problems and how they solved them.

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        Also, haggling is one of the things you will need to perfect. You might not love it, but it’s the key to getting some things at a reasonable price, as you are new on the market. For this one, you will also need people skills, and some help from people who are doing it for some period of time.

        Don’t be ashamed to ask for help, because it’s better to see their mistakes and successes in order to learn how to perform certain task.

        6. An idea that has something truly unique

        Your business and your idea must be different from others, and it’s up to you to find something original. You aren’t the only company that does offers certain products or services, and because of that you need to come up with a unique approach. Your customers need to know why they are choosing you, so you need to have a truly unique idea.

        If you don’t know how to make yourself differ, do a good research on different companies, and see how they made themselves unique. This way, you’ll certainly get a grasp of it.

        7. Great attention to detail

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          The whole business deal and project can fail because one small mistake. In the business world, it is something that shows your true value. Don’t let your talents go unnoticed or even decrease your value as a professional because of one small error. Also, it may happen that small detail ruins your whole effort in developing your business. Therefore, make sure you have your eye on every little detail and not make small errors.

          Starting a business is a risk you have to take, but also you can make sure you don’t fail after few months. Before you start your business, make a good business plan, consult with different business owners and work on yourself in order to create a successful business.

          Featured photo credit: https://www.flickr.com/photos/gato-gato-gato/ via flickr.com

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          Ivan Dimitrijevic

          Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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          Last Updated on January 21, 2020

          How to Increase Work Productivity: 9 Ground Rules

          How to Increase Work Productivity: 9 Ground Rules

          We all have those days when completing our assigned tasks seems beyond reach. With the temptation of social media, mobile games, and the internet in general—not to mention the constant bustle of people in the office—it’s easy to fall prey to disruptions and distractions at work.

          So, what can we do about it? How to be productive at work?

          While we don’t have a foolproof system that can completely eliminate disturbances and diversions, we do have 9 ground rules that can be applied to help give your productivity levels a boost.

          Keep reading to find out our tips on work productivity.

          What Does It Mean to Be Productive?

          How to be productive at work?” is the age-old question plaguing employees and employers alike around the world. Regardless of where you work and what you do, everyone is always looking for new ways to be more efficient and effective.

          But what does being productive actually entail?

          Completing more tasks on your list or working longer hours doesn’t necessarily mean you’re being more productive. It just means you’re more busy, and productivity shouldn’t be confused with busyness.

          Productivity means achieving effective results in as short amount of time as possible, leaving you with more time to enjoy freely.

          It involves working smarter, not harder. It means refining processes, speeding up workflows, and reducing the chances of interruptions.

          Productivity is best achieved when looking at your current way of working, identifying the bottlenecks, flaws, and hindrances, and then finding ways to improve.

          9 Ground Rules on How to Be Productive at Work

          1. Avoid Multitasking

          Multitasking can give the impression that more tasks can be accomplished as you’re doing multiple things at once. However, the opposite is true.

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          Research has shown that attempting to do several things at the same time takes a toll on productivity and that shifting between tasks can cost up to 40 percent of someone’s time.[1] That’s because your focus and concentration is constantly hindered due to having to switch between tasks.

          If you have a lot of tasks on your plate, determine your priorities and allocate enough time for each task. That way you can work on what’s urgent first and have enough time to complete the rest of your tasks.

          2. Turn off Notifications

          According to a Gallup poll, more than 50 percent of US smartphone owners admit to checking their phones a few times an hour.[2]

          Switching off your phone—or at least your notifications—during work hours is a good way to prevent you from checking your phone all the time.

          The same applies to your computer. If you have the privilege of accessing social media on your work desktop, switch off the notifications on there.

          Another good tip is to logout from your social media accounts. Therefore when you feel the urge to check it, you might be swayed because your page isn’t so easily accessible.

          3. Manage Interruptions

          There are certain disruptions in the office that are unavoidable such as your manager requesting a quick meeting or your colleague asking for assistance. In order to deal with this, your best approach is to know how to handle interruptions like a pro.

          Be proactive and inform the people around you of your need to focus. Turn your status on as “busy/unavailable” on your work chat app.

          If you’re on a deadline, let your colleagues know that you need to concentrate and would really appreciate not being interrupted for the moment, or even work from home if that’s a feasible option for you.

          By anticipating and having a plan in place to manage them, this will minimize your chances of being affected by interruptions.

          4. Eat the Frog

          Mark Twain once famously said that:

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          “if it’s your job to eat a frog, it’s best to do it first thing in the morning. And if it’s your job to eat two frogs, it’s best to eat the biggest one first.”

          What this basically means is that you should get your biggest, most urgent task out of the way first.

          We all have that big, important task that we don’t want to do but know we have to do because it holds the biggest consequence if we don’t complete it.

          Eat the frog is a productivity technique that encourages you to do your most important, most undesirable task first. Completing this particular task before anything else will give you a huge sense of accomplishment. It will set the ball rolling for the rest of the day and motivate you to eagerly complete your other tasks.

          5. Cut Down on Meetings

          Meetings can use up a lot of time, which is time that can be used to do something useful.

          You have to wait for everyone to arrive, then after the pleasantries are out of the way, you can finally get stuck into it. And sometimes, it may take a whole hour to iron out one single issue.

          The alternative? Don’t arrange a meeting at all. You’ll be surprised at how many things can be resolved through an email or a quick phone call.

          But that doesn’t mean you should eliminate meetings altogether. There are certain circumstances where face-to-face discussions and negotiations are still necessary. Just make sure you weigh up the options prior.

          If it’s just information sharing, you’re probably better off sending an email; but if brainstorming or in-depth discussion is required, then an in-person meeting would be best.

          6. Utilize Tools

          Having the right tools to work with is crucial as you’re only really as good as the resources you have at your disposal. Not only will you be able to complete tasks as efficiently as possible, but they can streamline processes. Said processes are essential to a business as they manage tasks, keep employees connected, and hold important data.

          If you’re the manager or business owner, ensure your team has the right tools in place.

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          And if you’re an employee and think the tools you currently have to work with aren’t quite up to par, let your manager know. A good team leader understands the significance of having the right tools and how it can impact employee productivity.

          Some examples of tools that could be used:

          Communication
          • Slack for team chat and collaboration.
          • Samepage for video conference software.
          • Zendesk for customer service engagement.
          Task Management
          • Zenkit for task and project collaboration.
          • Wunderlist for listing your to-do’s.
          • Wekan for an open source option.
          Database Management
          Time Tracking
          • Clockify for a free tracker.
          • TMetric for workspace integrations.
          • TimeCamp for attendance and productivity monitoring.

          You can also take a look at these Top 10 Productivity Tools to Help You Achieve 10x More in Less Time.

          7. Declutter and Organize

          Having a disorganized and cluttered workspace can limit your ability to focus. According to researchers, physical clutter can negatively impact your ability to concentrate and take in information.[3] Which is why keeping your work environment well ordered and clutter-free is important.

          Ensure you have your own system of organization so you know what to do when the paperwork starts to pile up.

          Being organized will also ensure that you know where to find the appropriate stationery, tools, or documents when you need it. A US study reveals that the average worker can waste up to one week a year looking for misplaced items.[4]

          Here’s a useful guide to help you declutter and organize: How to Declutter Your Life and Reduce Stress (The Ultimate Guide)

          8. Take Breaks

          Taking regular breaks is essential for maintaining productivity at work. Working in front of a computer can lead to a sedentary lifestyle which can place you at a higher risk of heart disease, diabetes, and obesity. Even a 30 second microbreak can increase your productivity levels up to 30 percent.

          As well as your physical health, breaks are also crucial for your mental and emotional wellbeing. That’s because your brain is like a muscle, the more it works without a break, the easier it is for it to get worn out.

          Ensuring you actually take your breaks can prevent you from suffering from decision fatigue. It can also help boost creativity.

          Take a look at this article and learn why you should start scheduling time for breaks: The Importance of Scheduling Downtime

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          9. Drink Water

          Although we know we should, it’s easy to forget to drink enough water during the working day.

          Many of us turn to tea or coffee for the caffeine hit to keep us going. However, like taking breaks, drinking water is essential for maintaining productivity levels at work. It’s simple and effective.

          Not drinking enough water can lead to dehydration and also headaches, tiredness, and weight gain.

          A good tip to avoid dehydration is to keep a water bottle at your desk as it can serve as a reminder to constantly drink water.

          If you find the taste of water a little bland, add some fruit such as cucumber or lemon to give it a better taste.

          You can also get more ideas on how to drink more water here: How to Drink More Water (and Why You Should)

          The Bottom Line

          The preceding 9 ground rules on work productivity aren’t the be-all, end-all. You and the company you work for may have other tips on how productivity is best increased and maintained.

          After all, it’s something that can be perceived differently depending on the exact job and work environment.

          In saying that, however, the 9 ground rules serve as a good foundation for anyone finding themselves succumbing to disruption and distraction, and are looking for ways to overcome them.

          A good tip to keep in mind is that change doesn’t happen overnight. Start small and be consistent. If you slip up, just dust yourself off and try again.

          Developing habits happens gradually, so as long as you keep up with it, you’ll soon start to notice the changes you’ve been making and eventually enjoy the fruits of your labor.

          More About Boosting Productivity

          Featured photo credit: Cathryn Lavery via unsplash.com

          Reference

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