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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 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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