Why did I become an entrepreneur?
At first my goal was to make money and get rich until I learned that skillsets and solutions make money
Being a business owner doesn’t mean you have no responsibility to answer and submit or compromise .
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People make all sought of demands that can easily make you go crazy , So you better buckle up and prepare for the worst .
Some People want things cheap. .l
Even when you are giving people discounts they still want lower prices.
Some people will go to the lowest of depths to get what they want. There is nothing in the book that people will not try .
This is why it’s important to give good customer service and also value for time .
First and foremost entrepreneurship is journey .
Failing is a big part of it which means you will take a few losses before you win . So therefore my advice for start ups is to look for solutions .
Not everyone is going to believe in you . Business ownership is a title and it doesn’t mean you are entitled to get rich.
You have to take many things into consideration when starting out .
When you take on entrepreneurship you are taking on responsibility.
Your name is on the line for anything that goes wrong . You have to make sure you are protected legally .
People like to sew ,you can end up getting sewed by a competitor for copyright infringement etc.
These things happen on a regular basis . At some point in time you would need extra capital or start up money which means you have to borrow or raise money.
Payroll ,Inventory, Property maintenance , Rent Mortgage , Insurance, Building up reserves, Dealing with government regulations.
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Take into consideration giving up a percentage of your business in return for seed money.
This is nothing to be scared of but something that I think you should pay attention.
Yes business ownership carries risk but having the freedom and ability to move and negotiate on your terms trumps it all.
The upside is unlimited . Yes you will lose deals and customers no matter how hard you try .
You have to deal with people’s likes and dislike .
Products become obsolete competition is always on the horizon.
All of this is reality but If you are coming in to solve and serve you will thrive . Think Rich ,take actions that align with your goals.
The problem that I see with people starting a business is they do it solely to get rich .
Instead of getting into business to just to get rich do it to provide a better service .
Provide a service that is uniquely valuable. People want exceptional service .
I see businesses trying to convince people their products are the best .
Your products are not going to sell without people buying them . That means if people are happy with your services chances are they will buy .
In order for this to happen you cannot make it appear as if your business is strictly about money . That is a big turn off.
Me presonally I hate when people push their products on me without engaging .
I like selling and buying too However I know the relationships I build with people are just as important. You are not escaping the reality of hard work.
You me or no one else is going to get get rich overnight. The Get rich mentality doesn’t leave room for growth However if you enrich others you enrich yourself.
Make it about service and value . Yes you will have to fight to earn your keep but you will be rewarded.
Your mindset makes the biggest difference in life .
Business gives me the freedom to move around in my own time frame eventhough the customer is my boss .
Take a minute and think about what I have just said . You have freedom and unlimited potential to earn what you want but you still have to listen and respect people .
Who in their right minds is going to buy items from some one that has no respect for them .
I know I wouldn’t buy anything a person like that.
Without people your business wouldn’t survive. You have to make sure you make the experience pleasing at all times .
Some brands don’t go over and beyond for customers because they look at them as a numbers.
Start looking at business as a means to improve the experience of peoples lives . If you are out of touch with the customers they will be put of touch with you .
This means don’t put all your time and energy into products and price points. You can end up over stocking inventory then you will have to mark down inventory and lose money .
That’s something I wouldn’t want to be doing too much but it’s something that happens .
Business is not a walk in the park ,it takes time energy, discipline and good listening skills to be successful .
The responsibility of business ownership is huge and you have to be willing to take on the responsibility.
Staff , People sewing you ,Stealing Business meetings . I think alot of people that start their own business underestimate the work.that is required to produce .
Nothing wrong with being optimistic but you have got to gear your mind for the troubles that you will encounter . You have to be prepared and ready to go to great lengths to please customers and employees. Customer complaints Is another aspect of business that you have to deal with .
You really have to have thick skin to deal with that. Even more you should be preparing your self for profit losses as well . When I first started business I wasn’t thinking about those things .
The upside of business ownership is unlimited .
Some companies recover from losess some don’t.
This is why you should be proactive and innovative. Being proactive and innovative is going to help you grow and stay ahead of the curb .
Research and development is important too .
Everything I am telling you is to position you for growth and stability.
I want you to be able to weather the storm during periods of inflation. You have got to learn cost cutting measures .
I want you to be prudent with your money .
There is no exact science but the proper allocation of funds for provisions,reserves ,depreciation and good return on capital is a necessity .
Conclusion
If you have the right mindset I don’t see any reason why you shouldn’t be a successful business person .
iThink big and stick to the wicked .