- NETWORK, CONNECT, BUILD RELATIONSHIPS
In business, everything is about relationships and who you know matters a lot. Spend time before you start your business focussing on networking. Business development and sales will depend on your network. Branding, funding, recognition, new ideas, everything flows in through contacts. You never know, you might even find a co-founder, partner or investor in this course.
Connect online on LinkedIn/Email, go to conferences and meet-ups, identify and connect people who you think will benefit your business.
- SAVE AND HAVE A BACKUP PLAN
Funding does not come on the first day of your business. You need to be confident to fund your business yourself. In the time that you know you want to be an entrepreneur save, save, save. Also, take a class/learn about personal finance management. It’ll help you save and manage your finances, and if you’re going to manage the finances of an entire company it’ll definitely train you to do so.
Having a back-up plan will distract you in terms of a business plan, here we talk about a financial back-up for you to sustain your livelihood until your business hits revenue.
- FIND YOUR PURPOSE AND BE SELF MOTIVATED
Learn to motivate yourself. Once you’re a CEO, you’ll be the only source of motivation for yourself, your business, your employees and your team. When everyone is looking up to you for motivation, look within you to find the “why” or the purpose that can keep you going. Believe in yourself to fulfill that purpose. Nothing can stop you when you’re your own motivator.
Do your research. Find your business opportunity, the pain points that you want to focus on and provide a solution through your idea. Once you’ve done intensive research and understood the subject matter, work for a CXO of a company. Shadow them, see the number of hours they put in, the language they speak, their body language, their approach to problems, their team building and leadership skills, all of this will serve as a guide.
Your research, subject matter knowledge, your experience will become your Bible when you start on your own.
- BE SELF-AWARE AND TONE DOWN YOUR EGO
Always be aware of your own strengths and weaknesses. Do a SWOT analysis of your own. Find ways in which you can fulfill your purpose by channelising your strengths and converting your weaknesses into opportunities.
The ego always comes in the way of any opportunity. Tone it down, improve your team-building skills, the way you handle criticism and how you utilise all of this in the most constructive way.
Your team is a mirror of who you are and how your business will run.
Find your ideal co-founder or partner if your business needs one. This is tricky ground, as your ideas, your plans, your purpose needs to match and how in the long run this relationship will be stable, also becomes extremely critical.
After the co-founder, build your team with people of various backgrounds and experiences, who will each bring something to the table and contribute to your business.
Finding a team, and building the right culture is very essential for your business to grow.
Let us know in the comments below some more essential tips to start your own business.
-Sanjana Bharadwaj
ClayWorks-Spotch
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In business, everything is about relationships and who you know matters a lot. Spend time before you start your business focussing on networking. Business development and sales will depend on your network. Branding, funding, recognition, new ideas, everything flows in through contacts. You never know, you might even find a co-founder, partner or investor in this course.
Connect online on LinkedIn/Email, go to conferences and meet-ups, identify and connect people who you think will benefit your business.
Funding does not come on the first day of your business. You need to be confident to fund your business yourself. In the time that you know you want to be an entrepreneur save, save, save. Also, take a class/learn about personal finance management. It’ll help you save and manage your finances, and if you’re going to manage the finances of an entire company it’ll definitely train you to do so.
Having a back-up plan will distract you in terms of a business plan, here we talk about a financial back-up for you to sustain your livelihood until your business hits revenue.
Learn to motivate yourself. Once you’re a CEO, you’ll be the only source of motivation for yourself, your business, your employees and your team. When everyone is looking up to you for motivation, look within you to find the “why” or the purpose that can keep you going. Believe in yourself to fulfill that purpose. Nothing can stop you when you’re your own motivator.
Do your research. Find your business opportunity, the pain points that you want to focus on and provide a solution through your idea. Once you’ve done intensive research and understood the subject matter, work for a CXO of a company. Shadow them, see the number of hours they put in, the language they speak, their body language, their approach to problems, their team building and leadership skills, all of this will serve as a guide.
Your research, subject matter knowledge, your experience will become your Bible when you start on your own.
Always be aware of your own strengths and weaknesses. Do a SWOT analysis of your own. Find ways in which you can fulfill your purpose by channelising your strengths and converting your weaknesses into opportunities.
The ego always comes in the way of any opportunity. Tone it down, improve your team-building skills, the way you handle criticism and how you utilise all of this in the most constructive way.
Your team is a mirror of who you are and how your business will run.
Find your ideal co-founder or partner if your business needs one. This is tricky ground, as your ideas, your plans, your purpose needs to match and how in the long run this relationship will be stable, also becomes extremely critical.
After the co-founder, build your team with people of various backgrounds and experiences, who will each bring something to the table and contribute to your business.
Finding a team, and building the right culture is very essential for your business to grow.
Let us know in the comments below some more essential tips to start your own business.
-Sanjana Bharadwaj