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Top Tips for the First-Time Business Owner

    • 1 posts
    January 1, 2012 1:45 AM EST

    Thanks for the share. This content is worth the share.. Definitely could help new business owners and give them a greater insight.

    • 18 posts
    December 7, 2012 6:40 PM EST

    Thank you for the nice tips and your post. I like all the points, especially the one that said that a new entrepreneur must always act like a startup and keep the expenses minimal keeping all frivolous expenditures under check.

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    Accounts Receivable Financing

    • 3 posts
    January 13, 2012 11:43 AM EST

    Act like a startup.
    Forget about fancy offices, fast cars and fat expense accounts. Your wallet is your company’s life-blood. Practice and perfect the art of being frugal. Watch every dollar and triple-check every expense. Maintain a low overhead and manage your cash flow effectively.

     

    This has been a very useful suggestion and I can certainly vouch for it as I have seen it help my junk removal business on a variety of occassions. Often times, rather than act like something we were not, we would be honest and tell advertising companies or potential customers that we were a relatively young company and were looking to build our business, which, in some instances, ended up saving us money as some businesses would cut us deals to cater to our shoestring budget. Some of those deals in the beginning really helped us move to the next month with a healthier cashflow. Good FYI

    Junk Dawgs


    www.junkdawgs.com

    • 2 posts
    September 27, 2012 8:50 AM EDT

    Great tips thank you

    • 2 posts
    January 3, 2013 7:07 PM EST

    You are new business starting then ten tips for apply and deep thinking for the tips.

     

     

    1. Focus. Focus. Focus. 
    2. Know what you do. Do what you know. 
    3. Say it in 30 seconds or don't say it at all. 
    4. Know what you know, what you don't know and who knows what you don't. 
    5. Act like a startup. 
    6. Learn under fire. 
    7. No one will give you money. 
    8. Be healthy. 
    9. Don't fall victim to your own B.S. 
    10. Know when to call it quits. 

     

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    • 4 posts
    February 11, 2013 3:00 AM EST

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    • 16 posts
    February 15, 2012 12:14 AM EST

    First-time business owners should follow these things:

    > Take a market review.

    > Create a perfect plan.

    > Setup a skilled team.

    > Take the help of web world to promote your business.

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    Businesses for sale

    • 54 posts
    July 28, 2011 3:51 PM EDT

    This hit me hard. :D In a few pointers you included especially about health. Great tips. Now this is something to to think about. 

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    physical therapy chattanooga

    • 344 posts
    May 9, 2011 7:52 PM EDT

    Entrepreneurship is both exciting and nerve-wracking. Will I close enough deals? Will I make payroll this week? Am I doing the right things right? Is the cash flow there to keep the doors open?

     

    here are 8 pieces of advice that I wish someone had given to me before I launched my first venture 

     

    Focus. Focus. Focus.
    Many first-time entrepreneurs feel the need to jump at every “
    opportunity

    ” they come across. Opportunities are often wolves in sheep’s clothing. Avoid getting side-tracked. Juggling multiple ventures will spread you thin and limit both your effectiveness and productivity. Do one thing perfectly, not 10 things poorly. If you feel the need to jump onto another project, that might mean something about your original concept.  

     

    No one will give you money.
    There, I said it. No one will invest in you. If you need large sums of capital to launch your venture, go back to the drawing board. Find a starting point instead of an end point. Scale down pricey plans and grandiose expenditures. Simplify the idea until it's manageable as an early stage venture. Find ways to prove your business model on a shoestring budget. Demonstrate your worth before seeking investment. If your concept is successful, your chances of raising capital from investors will dramatically improve.

    Be healthy.
    No, I'm not your mother. However, I promise that you will be much more productive when you take better care of yourself. Entrepreneurship is a lifestyle, not a 9-to-5 profession. Working to the point of exhaustion will burn you out and make you less productive. Don't make excuses. Eat right, exercise and find time for yourself.

    Don’t fall victim to your own B.S.
    Don’t talk the talk unless you can walk the walk. Impress with action not conversation. Endorse your business enthusiastically, yet tastefully. Avoid exaggerating truths and touting far reaching goals as certainties. In short, put up or shut up.

    Know when to call it quits.
    Contrary to popular belief, a smart captain does not go down with the ship. Don’t go on a fool’s errand for the sake of ego. Know when it’s time to walk away. If your idea doesn’t pan out, reflect on what went wrong and the mistakes that were made. Assess what you would have done differently. Determine how you will utilize these hard-learned lessons to better yourself and your future entrepreneurial endeavors. Failure is inevitable, but a true entrepreneur will prevail over adversity.

     

     

    Know what you do. Do what you know.
    Don’t start a business

    simply because it seems sexy or boasts large hypothetical profit margins and returns. Do what you love. Businesses built around your strengths and talents will have a greater chance of success. It’s not only important to create a profitable business, it’s also important that you’re happy managing and growing it day in and day out. If your heart isn’t in it, you will not be successful.

    Act like a startup.
    Forget about fancy offices, fast cars and fat expense accounts. Your wallet is your company’s life-blood. Practice and perfect the art of being frugal. Watch every dollar and triple-check every expense. Maintain a low overhead and manage your cash flow effectively.

    Learn under fire.
    No business book or business plan can predict the future or fully prepare you to become a successful entrepreneur

    . There is no such thing as the perfect plan. There is no perfect road or one less traveled. Never jump right into a new business without any thought or planning, but don’t spend months or years waiting to execute. You will become a well-rounded entrepreneur when tested under fire. The most important thing you can do is learn from your mistakes and never make the same mistake twice.

     

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    Global buy sell B2B trade marketplace

    • 47 posts
    December 14, 2011 7:25 PM EST

    Good tips . As a new one one business, too many things need burden and no one will help you if you can't insist on.So have to learn much and work hard to promote business.

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    Elite Art&Craft Factory ----sell bags http://www.fashionelitebag.com MSN:sallya121@hotmail.com SKYPE:huangmeiqing111

    • 110 posts
    September 3, 2011 5:58 AM EDT

    I think a good tip would be to ask for advice and listen.  It is truly amazing how many smart and educated people there are on the internet willing to help first time business owners.

     

    Also network, network, network the more people you know the better chance your business has

    • 20 posts
    October 12, 2011 3:05 PM EDT
    This is great advice, thank you!

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    • 18 posts
    December 20, 2012 2:20 AM EST

    Really it is a great post. I give you a tender of thanks for this marvelous tips for business owners. It is useful for all.

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    • 19 posts
    January 8, 2012 4:41 PM EST

    real good post .  cheers ! Cool

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    Baililai provide business service in China, our website: http://www.company-cn.com

    • 15 posts
    January 31, 2014 12:12 PM EST

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    • 19 posts
    February 5, 2014 1:46 PM EST

    Hello,

     

    From my personal experince of becoming an entrepreneur I do believe that there are some critical items that have to be addressed in order to build a successful business. 

    1. believe in yourself and your business idea - because no one else will unless you do

    2. Discover your passions - the things you love to do

    3. Monetize your passion - add a value to your venture

    4. Create a balanced life - don't just focus on your business but all aspects of your life

     

    After having developed successful businesses while being a stay at home mom, I have acquired a passion to help others do the same. You can access my FREE 6DAY workshop by going to my website: www.themomentrepreneurs.com

     

    I hope to inspire more mothers to become successful momentrepreneurs.

    Peace, Love and Success is just a sign up away :)