Advertising
Advertising

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

image01

    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.

    Advertising

    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

    image02

      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.

      Advertising

      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

      image03

        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.

        Advertising

        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

        Advertising

        image04

          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

          More by this author

          Ivan Dimitrijevic

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

          50 New Year’s Resolution Ideas And How To Achieve Each Of Them 8 Fun and Unique Birthday Party Ideas for People in Their 20s 50 Cleaning Hacks for Your Home That Will Make Your Life Easier 40 Amazing Date Ideas for Valentine’s Day 9 Unexpected Benefits Of Foot Massage That Make You Want To Have One Now

          Trending in Entrepreneur

          1 10 Employee Engagement Ideas to Improve Teamwork 2 Effective Employee Onboarding (The Complete Guide) 3 How to Become an Entrepreneur (Advice from a Serial Entrepreneur) 4 How to Succeed in Business: 10 Skills Every Entrepreneur Needs 5 How to Start a Startup Fast: 5 Essential Steps

          Read Next

          Advertising
          Advertising
          Advertising

          Published on October 8, 2019

          How to Advance Your Career (and the Big Mistakes You May be Making)

          How to Advance Your Career (and the Big Mistakes You May be Making)

          The late writer William S. Burroughs once said that “When you stop growing, you start dying.” It might have a morbid undertone, but it’s one hundred percent true in terms of one’s career.

          The days of finding a job with one company that you can stick with for 30 years, and simply relax as you move up its company escalator are few and far between in today’s world. This isn’t necessarily bad news. On the contrary, it means that you’re the one in charge of shaping your career advancement.

          By putting these principles and behaviors into practice, you’ll begin to see how to advance your career quickly. Ready? Let’s get started…

          1. Define What Success Is for You

          There’s no right or wrong definition of what success in your career looks like. The important thing is to figure out what success looks like for YOU. It might, and probably will, change along the way, but if you don’t have some sort of milestone on the horizon, then you won’t know which direction to go in.

          Think about success in your career in terms of one year, five years, and 10 years. Once you have that, it’s time to lace up your boots and get to work.

          2. Learn How to Develop and Follow a Plan

          Nobody just stumbles upon success accidentally. Sure, they may stumble upon breakthroughs or new methods accidentally, but all success stories have one thing in common — a plan.

          Establish a timeline for the things that you want to achieve in your career in the next year, five years, 10 years, and so on. Consider the skills that you’ll need to learn to make these things happen and work on acquiring them.

          3. Surround Yourself With Those Better Than You

          It’s a rule of thumb among musicians that if you want to get better, then you need to get out of the bedroom and play with people who are better than you.

          Advertising

          By surrounding yourself with people who are better than you and where you want to be, you’ll not only see how these people climbed to where they are in their respective fields, but you’ll learn from them and naturally want to push yourself to be better in your own job as well.

          4. Seek Out a Mentor(s)

          A mentor will not only be able to help you refine and reach your career goals, but will be invaluable in landing promotions and finding unadvertised job openings.

          One unique approach is to work on fostering a relationship with a mentor both within and outside of your company. This will help in giving you different perspectives as you rise up through the ranks in your company and career overall.

          5. Stop Wasting Your Mornings

          You may not think you’re a morning person, but if you can learn to be one, you’ll thank yourself 10 years down the road.

          Prepare a to-do list of tasks that you want to accomplish the day before and work on knocking them out for at least one hour before you respond to morning emails. The problem with responding to emails first, is you’re giving your attention to somebody else’s agenda, instead of plotting your own course for the day.

          6. Arrange or Attend a Networking Party

          If you’re attending networking events simply because you might get a few free drinks, you’re doing them wrong. These events are great for meeting new people and forming relationships. Your goal shouldn’t be to get hired by the end of the night, but to simply make a good impression by being friendly and authentic. So what’s next?

          Reach out a few days later via email or on social media to follow up and connect!

          7. Pick Up Some New Skills

          Nobody wants to be the old dog that can’t learn any new tricks. To move up in your career, you’re going to likely need to pick up new skills along the way. Maybe your company offers on-the-job training or you have the option of taking online classes at night.

          Advertising

          By learning new skills, you’ll not only be able to expand upon what you can already do, but you’ll make yourself more valuable to your employer and future employers.

          8. Exploit the Benefits Already at Your Disposal

          Remember what we just said about the possibility of your company providing on-the-job training? Take advantage of these sorts of benefits!

          If you’re working for a company that allows you to job shadow other employees or has company mixers, you should attend these. They not only allow you to develop your skills within the company, but show seasoned executives within your field that you’re interested in more than just clocking in for a paycheck.

          9. Make Yourself Indispensable

          Good help is hard to find and employers want to retain outstanding employees. If you can learn to make yourself indispensable to your company, you’ll not only communicate that you’re successful, but will have a lot more job security. What’s this entail though?

          It’s actually not all that difficult. By being reliable, adapting to new challenges, and holding your own work and performance to a high standard, you’ll stand out among your peers and others will take notice. Easy enough, right?

          10. Get Off the Fence

          People who advance in their careers are those who don’t shy away from voicing their opinion and stand up with authority when the opportunity arises.

          If a problem arises in your company and you think you might have a solution or are willing to work to find one, then let others know. Employers value and promote problem solvers. Start off with something small and work your way up towards tackling more difficult tasks and projects.

          11. Don’t Wait for More Responsibility, Ask for It

          If you want more responsibility in your job, then be open about it with your manager. Your manager may be so busy with their own work that they weren’t aware you were looking for more challenges.

          Advertising

          Just make sure you can handle it and that you already show strong performance in your current duties. And if your manager doesn’t seem supportive about offering you more responsibility, well, then it could be time to look for new employment.

          12. Stop Wasting Time on What You Don’t Want

          If your career goals start with “I should do this…” there could be a problem. This kind of language in referring to goals can doom them to failure because the want isn’t there.

          Consider using the RUMBA method (Reasonable, Understandable, Measurable, Behavioral and Agreed) when setting your goals. That “agreed” part should really be “want.” By going after career goals that you actually want to accomplish, you’re much more likely to achieve them.

          13. Seek Out Feedback and Apply It

          Simply doing your job might not always push you up in your career advancement. Too often, employees just assume that their bosses will notice their performance strides and reach out when the time is right to advance.

          Don’t be afraid to regularly seek out feedback and ask for constructive criticism. It not only shows that you value your manager’s opinion but demonstrates that you care about your job and want to become better in your chosen field.

          14. Pick Your Bosses Wisely

          Advancing in your career can move a lot quicker if you’re working for the right people. If your boss isn’t any good at their job or doesn’t value you, then moving up could become difficult.

          A great boss though, will be able to help you capitalize on your strengths and be an advocate for your success. If there aren’t any strong developers of talent in your management chain already, then look around for some and seek them out as mentors.

          15. Learn to Develop Your Sense of Timing

          The odds of asking for a promotion or raise are in your favor with over 70 percent of respondents to a survey from PayScale reporting some success. One thing to keep in mind that can make all the difference is when you ask.

          Advertising

          Some corporate cultures may prefer that employees reach out about advancement during their annual review, but maybe you work for a more free-spirited startup. The best approach may be to take note of when others advance and ask about how the organization handles employee development.

          16. Work Hard and Promote Yourself

          Working hard and delivering a solid job performance are the keys to advancing in your career no matter what field you’re in. This doesn’t mean you need to be completely humble about your accomplishments either.

          Keep a record of your positive impact within the organization and let others both within your company and your field know that you’re enthusiastic about your role and work.

          17. Don’t Just Build Your Network… Cultivate It

          It’s way too easy to add new people to your LinkedIn network and then forget about them for all eternity. Rather than just collecting business cards or social media contacts, you should be cultivating relationships with the ones you already have.

          Follow up with people that you haven’t spoken to in a while, offer to connect them with somebody you know in their field, or ask about a new job title they may have taken on. Doing so could be the spark that leads to a potential job referral.

          18. Join a Professional Organization

          The National Association of (insert your industry here) and other professional organizations can still offer a great wealth of advantages from networking to industry insights, and skill development.

          Even outside of professional organizations dedicated to particular job fields, civic organizations can also be fantastic for making new contacts. After all, so much about career advancement is who you know, and you never know who you’ll meet who knows somebody else who is looking for someone with your skills and experience.

          More About Career Advancement

          Featured photo credit: JESHOOTS.COM via unsplash.com

          Read Next