10 things entrepreneurs can do to improve odds for success
TRANSCRIPT
10 THINGSENTREPRENEURS
CAN DO TOIMPROVE
ODDS FOR SUCCESS
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1. Discover the problem
As an entrepreneur, you shouldresearch to discover the“unsolved” problems that peopleface in your industry, and thenfind solutions to address thoseproblems.
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2. Review your budget,goals, and passion.
You want to make sure you have thebudget to start and accomplish yourshort-term goals, which in turn supportyour long-term goals. You should alignyour passion with what you do daily inyour business to ensure you aremotivated to work the long hours thatentrepreneurs typically work.
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3. Develop a strategic plan
Give yourself deadlines.You will benefit from having expectedcompletion dates for the things you wantto accomplish.
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4. Establish a professional,quality website thatcommunicates who you areand what you do.
We recommend that you find a webdesign provider that develops CMS-based websites to custom build a site foryour business.
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5. Use free tools to promoteyour website and businessfirst, before going on to paidservices.You can promote your business and websitefor free by creating your own accounts onFacebook, Twitter, Google Plus, etc.
You can also post your website on popularbusiness directories like: Yelp, MerchantCircle, Yellow Pages, etc.
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6. Spend some money to getquality business cards designed
and (at least 250) printed.
The business card design should align wellwith your professional website and brand.
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You don’t want to be
surprised with a big bill
because your vehicle breaks
down. The key is to minimize
negative surprises for things
within your control, by
preparing ahead of time.
7. Make sure yourbusiness vehicleis reliable anddurable, with lowmaintenance
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8. Find a mentor you trustto help deepen yourknowledge and broadenyour perspective
Keep learning new things that
you believe will help your
business leap forward. New
entrepreneurs should know that
to survive over the long haul –
business ideas, products and
services need to evolve to adapt
to new developments.
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9. Back up your data
Most businesses require
computers, including laptops,
desktops. These are machines,
and machines break. If you
have files for your business,
you should buy a portable hard
drive and back up those files.
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Staying up on your expenses
will allow you to reassess
where you deploy your
limited resources, which is
very important for any
startup. We recommend you
review your expenses
quarterly, if not monthly.
10. Review allyour expensesquarterly
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The lessonslearnedmistakes are often thebricks that lay the path tosuccess for manyentrepreneurs.
But if you can avoid them,it’s wiser to skip as manymistakes as you can bytaking the time to learnfrom more experiencedentrepreneurs, howtobooks, and howto articles.
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