There are hundreds of stories and millions of pieces of content available online about how to start a business, tips, and planning for growing the business. All documentaries and Biographies are filled with guides of starting a new business. All successful business stories are incomplete with a lot of failures and butt-off challenge in business, starting and growing. Yes, failing a big part of the business, but after all this lesson why new entrepreneurs now face the failure in starting a business. Its points of thinking. In this post, I am sharing with the 5 things to care before starting a new business. This will to take away from the probability of failing and make you successful in the first attempt of your business. so let jump into the post:
- Wrong idea or business
Most people this mistake in starting of new business. Its really matter taking the idea that really matches your skills, knowledge, personality type, and potential purpose. Some people start the business of doer but they have creative nature and so they face failure soon and vice versa. Similarly, you are introvert or extrovert by nature, its really matters in your picking the business.
Never pick the business on the basis of money or trend. This another big mistake people make in starting the business. Let make an app because it’s a trend and people are making millions of $$ like Snapchat, Instagram, etc.. Similarly, don’t run for the money as You will fail soon because you will lose motivation in the casing of money.
- Waiting and planning for a good time
In today time its almost take two to four hours to start a business blog or website. Tai Lopez, one of the great online entrepreneur and Key-Note speaker and teacher, the business idea should be tested in two-8weeks time. If you are wasting time in planning or waiting for the right time to start the business you will not find it perfectly.
You only be perfect by doing it again and making mistake and learning from things along the way. just put little in planning and more just in action. Action means just start what you want to start and with the time you will learn all things and planning. You get reviews, likes, dislikes, your idea, modification, and the marketing plannings, etc. the more you are realistic in adopting the things the more productive will be your results.
Just don’t wait for the perfect time and plan. Because their millions of people in around waiting for the perfect time to start, but it never comes. Its on you to make the perfect and right for you and start the business.
- Making vs Spending of money
All the entrepreneur in the begging think, spending of money but you should think about the making of money because when you are not making money from your business your business is going to die. You need work, time, hustle, skills, passion and you, to make money. Your communication, persuading, collaboration are the real reasons for growing business and making money.
Thinking about different sources of getting and generating money for your business. If your business is out of cash its means you are at the death wall.
- Wrong Partnership
Starting a business with good friends, with family people or with someone in love is wrong decisions. Because there is a difference between money and love. There is a difference between friendship and partnership. When one is putting self in punishment and other is just jerkin its don’t work in the business. Girlfriend is good but if she doesn’t put the work in business demand its don’t work. It will work only if both putt the same level of effort and energy in business. Otherwise, it will affect your business and relationship.
The partnership comes to end when things get scrubbed and not working as planned. It’s real that you will need a partnership. But all people don’t have the ability to face the challenge and bad times. Select the people with talent, ability, and passion as you are expecting from another person. Choose the people that you can spend 18 hours of the day and understand one another point of view that matter for the business you people are carrying.
- Going out Limit
Its means spending time in skills and things that help you in growing and expanding your thinking ability and mindset. If you are just relying on present knowledge or degree and think I am gold medalist and I have done this and that, you are wrong. Please just be open to new technology and its opportunities. Books, webinar, seminars, and videos are the biggest source of learning in the present time. Not learning and keeping self-limited means that you don’t want to go out of your comfort zone and don’t want to put extra. In business after putting all and its gin to die and you putt extra time, money and energy, then you will unstoppable.
To grow and accomplish you have to learn more and more. learning can coaches or mentors or just normal online learning from books and courses.
I hope this article will help in taking better decision in Starting a New Business. best of luck.