Entrepreneur: 5 Do’s and Don’ts

The successful growth of entrepreneur depends on the dedicated time and energy. They make time from their busy schedules and invest in continuing education and self improvement. There are a lot of successful startups and a lot fewer that failed. Many believe that the rule of business, finance and competitive markets does not apply to them.

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Focus on doing one thing

Focus on one phase at a time. This enables lowest burn rate and highest success rate. The initial steps start from demonstrating a concept, then developing a product, initial customer traction to phased production.

Raise capital all the time

A business grows with the constantly raising capital for the next phase. The lack of time, short on cash discovers the chances of making business processes realistic.

Solve a big customer problem

First, figure out the problem, then solve it. Don’t come up with something that doesn’t solve a customer problem better than anyone else.

Come up with differentiated strategy

You probably won’t do it right but sooner or later few startups do. Come up with a unique strategy that no customers can resist. It’s one way or the other to eventually figure out along the way.

For example: Ben Weissensten: Running a business with nothing or no knowledge turns to make everything more organized and learned.

Know their market

Understand the market, the competitors and unique customer value proposition. Entrepreneurs have the tendency of believing that if they are good at something would turn into a business. Unfortunately, that’s not how target markets work.

Aden Levin and Rob Tominey : Believes in time awareness, give the people what they want, don’t try to convince them into what they need, in other words, market research thoroughly.

Also read: Basic Principles of Entrepreneurship [Infographic]
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The way Entrepreneur does the work make them unique. And also sometimes what they don’t do lifts up their ideas. It’s their actions that set them apart in maintaining solutions. You don’t want to hear this, but it’s true. Here are the list of things that Entrepreneur don’t do.

No work-life balance

Entrepreneurs are mostly workaholics. They live doing what they love. They don’t roam around free-wheeling for fun during weekends.

Mentally strong people: Never try to convince

The most damaging business myth comes up probably with personal branding. Besides, multiple entrepreneurs have great ideas on turning ideas into great product and services. They don’t change them for the options.

Love the work, don’t do it for money

They just work hard and are passionate about what they love to do. Focus like a laser beam eventually that comes big to me. Skip a change with the set platform.
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They don’t have day jobs

Great entrepreneurs think of really cool and exciting options. They jump in the headfirst with little of this and little of that. They look for efficient services that serves the most exciting options.

Turns fear into power

They don’t pay attention to the voice. They don’t let their fear stop from taking risks. Entrepreneurs listen to most voices, a voice of reason and come up with relative instincts. The ones that haunt you with everything can go wrong.

They don’t have virtual mentors

Most people follow every sort of writers, tweeters, bloggers. To get somewhere in life, you have to get real mentors in the real world. It is said that behind every great entrepreneur is at least one great mentor.

The real entrepreneurs don’t call themselves entrepreneurs. They don’t follow popular fads or conventional wisdom. Besides they work on the things that they love.

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How to Succeed in Becoming a Mom-Entrepreneur

mom-entrepreneurStudies indicate that about 15 percent of people who dare venture out and become entrepreneur succeed. On the other hand, 85 percent failed, lost their investment and ended up going back to their day jobs (if they could find one). If you’re considering venturing out and become a Mom-Entrepreneur, having real passion for what you do will give you better chances at succeeding. Here are some tips that you can apply while you’re working your way towards your business’ success.

Look Around

Observe your community and look around for potential services or products that you can provide. Study your neighborhood family’s profiles and keep in mind that these days, convenience is the name of the game. Identify what type of services you can offer your community that will allow them to devote more time for family or be more productive with their endeavors.

Skill Up

After years of slaving on the corporate world, you sure have acquired special skills from your job which you can use for becoming a Mom-Entrepreneur. Enhance these skills and talents by attending seminars, trainings, reading books and through the internet.

Explore your Options

There are several possible avenues for people who want to jump out of the corporate box and be a Mom-Entrepreneur. Some of them apply for a part time consultancy service or as a work-from-home specialist for call center or a business processing organization. So assuming you are internet savvy, you’ve got specific skills that a certain BPO requires and you’re proficient at verbal communications, you can easily take the shot at this type of home biz.

Apart from being an online specialist, you may also consider tutoring other kids aside from your child. Once you leave the corporate world, you’ll have more time to spend with your family and you can learn to teach your child new skills and a lot of information that he or she needs at school. You may also look at this from another angle. By developing your child’s skills and talents, you can apply for a scholarship and improve your child’s future all the while saving on their future educational expense. Your savings can now be invested to earn additional income.

Image Credit:
David Castillo Dominici

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