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5 Tips For Aspiring Entrepreneurs

How do you stay focused, motivated and successful? Tips for aspiring or new Entrepreneurs.

1.      Find your forte

Once you know your calling, establish your selling point. Conduct market research and understand what it is you are offering – whether it’s the quality of workmanship, a fast turnaround time, or an extra added value such as your expertise – that no-one else can provide. Anyone can have an amazing idea, but the best small business owner identifies a niche or a gap in the market that has the potential to make money.

2.      Be genuinely passionate

Choose a job you love, and you will never have to work a day in your life! For a sole trader, putting in the long hours when required doesn’t seem like hard work if you are truly enthusiastic and driven about what you do. Have new things to learn and appealing projects to work on.

3.      Manage your time effectively

There is only one of you, and there are only 24 hours in a day—so make the most of them! Your business plan can be a good guide. Break down the goals in your business plan into a series of small steps you must take to achieve them. By focusing on smaller tasks, your to-do list won’t seem so overwhelming, and you’ll make steady progress. If you still find yourself struggling to keep up, spend a week or so tracking how you spend your time each day. You’ll probably find at least a few hours of wasted time that could be spent on more productive tasks. Also, try to identify when you’re naturally most and least energetic— for example, are you a morning person or night owl? — and, when possible, schedule your most important tasks for the hours when you’re at peak performance.

4.      Have a back-up plan

Everybody knows a business goes through natural ups and downs, and this is true for businesses of all sizes. Technology and external forces can change and affect how you continue to do business. Keep up to date on industry news, local (and national) legislation, and try to expand your skill set so that you are then better prepared for such changes.

5.      You’ve got this!

Be confident that your knowledge and skills will be able to take you wherever your business needs to go. Remember: passion and proper research open the road, while a support system and continued learning pave the way, and effective communication and a backup plan seal the deal for lasting success. Follow us on Linkedin for more tips for aspiring entrepreneurs.

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