10 things entrepreneurs can do to improve odds for success

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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