The ABC’s of Entrepreneurship

The ABCs of Entrepreneurs

Always do your research. Never just make sudden moves without calculating the risks and gains associated with your choices.

Business is just that, business. You can’t run a business with a nonchalant attitude, poor bookkeeping or crappy customer service. If you aren’t going to take your business seriously, neither will customers.

Customers are not always right, however, they should always be treated with respect. Even when you

have an extremely rude or disgruntled client, keep your composure.

Don’t play follow the leader, everyone is not meant to follow the same path. What works for someone

else will not necessarily work for you and your business. Chart your path and move with what feels right for you.

Earning potential is unlimited when you’re an entrepreneur. Find your niche, become an expert in it, sell not only your service but your knowledge through books, audio files, and live events.

Failure isn’t as scary a word as people make it out to be. Failing at one of your goals is an opportunity to approach it differently. The only time we fail at something is when we give up.

Guidance helps, even the most successful businessmen and women have coaches and mentors. Don’t think that, to be the boss, you must know everything. It’s also important to surround yourself with people who know more than you do, they help you grow.

Help others. One of the easiest ways to grow your network and business is to volunteer to help others who are in the same field of industry

Innovation is key, the world of business is constantly changing. It’s not enough to keep up if you want to make it into the top earning bracket, you need to be a game changer, not just a player.

Join the proper networks. No man is an island, it is easy to develop an attitude of independence and think that you can do it alone. No one can. Don’t block your growth or blessings by not joining the proper networks that correlate with your industry.

Keep accurate records. One of the scariest things a business can face is a tax audit or a lawsuit. Accurate documentation can save you money, headaches, and a lot of drama in the long run.

Learn something new every day. No one knows everything, and the world is constantly changing. You don’t have to go to school to further your education. There are webinars, seminars, online tutorials and books that you can read at your leisure to educate yourself..

Make time for rest, family and fun. Yes, your business is important, and as an entrepreneur, you can feel pressured to work around the clock. You may stretch yourself too thin, attempting to cover all bases but it is imperative that you take time for yourself and the ones you love.

Net sales matter but your business is not the sum of money you make. Many small business owners do not see a profit the first few years they are in business. If you do, consider yourself lucky. Before making a drastic decision about your business based on sales, remember to consider the impact your business makes on your customers and community.

Opportunities arrive in all shapes and forms. Be on the lookout for opportunities to partner, network with, and support others as you grow your business.

Procrastination is the enemy of any entrepreneur. Do not let it stand in the way of your dreams or in the way of your business growing as it should. Yes, you can do it tomorrow but you can also do it right now!

Question everything, not because you feel others are incompetent but as a business owner you should be able to speak intelligently about every aspect of your business. Even if you have to outsource something, learn as much about it as possible to be able to, not only, answer questions on the spot but also be able to tell when someone is getting over on you.

Refresh yourself often. Yes, you know what you’ve learned but there’s no harm in going back over your notes and seeing if you could be doing it better or if there is anything you missed in your notes the first time.

Sponsors are a great way to help your business not only grow but gain more public awareness. They become partners to help promote and fund your business.

Technology is ever evolving. Not everyone will be able to keep up with it. Make sure you have money in your budget to have tech support when needed.

Upbeat personalities, bright colors, and good vibes attract new customers. If you’re having a bad day, remember to leave it outside the workspace. Make sure your business color scheme attracts people and gives them a good feeling about working with you. Unless you’re in the funeral business, avoid going too dark.

View transactions through the client’s eyes as you, yourself, are the service being provided. Compare your service to that you’d want to receive in similar circumstances. Customer satisfaction surveys can do wonders for finding out what the customer experienced.

Willpower is one of the most important aspects of running your own business. It is easy to start to make moves based on how you feel instead of the things that need to be done. A strong sense of willpower keeps you on track to achieving your goals.

X-factors exist. No matter how much you plan and prepare for any situation you must remember the x-factor. You can’t predict other people’s behavior, the weather or various other things that can alter your best-laid plans. Always have an alternative.

You are your brand. Your behavior and words, especially on social media, can come back to harm and haunt you and your business. Whenever dealing with the public, consider the impact on your brand.

Zest for what you do is necessary to run your own business. If you start to get to a point where you no longer have enthusiasm for your business then you must either walk away or take a break to recharge and come back when you have the patience and enthusiasm to give it your best.

Sapphire Hill

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To read more informative articles related to entrepreneurship, please check out Entrepreneurs of Color Magazine!

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