3 Business Tips Everyone Wish They Knew Earlier
The road of entrepreneurship is not a great fit for all. Not everyone is capable of making mistake after mistake with a smile and an unquestionable belief that all of the hard work is destined to pay off big time later on.
Yes, some mistakes are unavoidable. That noted I firmly believe that with a great source of knowledge like the modern day Internet a lot of them are preventable. And I am not alone in this belief as my words are backed by a lot of wapgenius users who wish to share their stories blended and practical advice with any new entrepreneur willing to listen.
Thus, without further due, I present to you the 3 business tips our users wish they knew earlier.
1 – I am not alone!
“Starting a beauty salon was one of the best decisions I’ve made in my life. I know it now and – boy oh boy – have I not felt the same way a year ago! After investing everything in my business, I was as broke as a church mouse and the revenue stream was nowhere near solid. Help came from an unexpected source – my brother in law. He lent me the money I desperately needed at the moment while promising him that I would pay him off as soon as I could.
The fun thing is – he helped me as soon as he found out about the trouble from his sister (my beloved Carry). I never personally asked for help because I was too proud and stubborn and I would never have. Don’t be me – ask for support from friends or family and help them in the hour of need. There is no shame but a lot of gain in an act as humble as asking for help. Plus the feeling of not standing alone against the whole world is, if nothing else, really comforting” – Jacob, Beauty Salon Owner.
2 – Have a backup plan
“I am guilty of being overly passionate about everything I do, especially if my ideas are backed by the Internet. All of the cool guys from the blogosphere of my niche were solid in one thing – you can’t start a business if you have any strings attached to the past. They said that a business is to take 110% of your time and having a job to back you up is a useless chore. They said a lot more and, to my shame, I listened. I quit my job that had a steady revenue stream, insurance, and benefits in pursuit of my dream. Need I say that it never worked out for me?
Come on people! Entrepreneurship is a fun yet unpredictable roller coaster. It may even seem like you are making enough profit to sustain a living but you never know where to expect a punch from. I, for once, got sick and, while the previous insurance plan I had could have covered all of my expenses the fact that I quit forcing me to pay up the hospital bills out of my own pocket. I did not lose just the time I’ve spent in the hospital but a lot of my personal savings and the business. Well, mistakes were made and lessons were learned. Don’t step into the water unless you have a tight rope around your waist as backup.” – Daniel, IT Startup Owner
3 – Perfectionism is for losers
“I am a perfectionist and, as a business owner, I am ashamed of this trait. Yeah, sales reps have made the sound of everything being perfect for a product or service the most important thing in the world, but the truth is – clients do not want perfection. They require a painkiller to soothe their pain. In my first business venture that flopped, I never outreached to anyone outside the tiny circle of close people and, after years of planning when my product was ready, I never got the chance to generate enough revenue in order to sustain production. I simply ran out of money, as people weren’t exactly lining up to purchase something they had never heard about regardless of how perfect I made it.
My next attempt kicked off with spreading awareness. Everyone I knew and a lot of people I’ve never even met joined my Instagram where I shared content regarding the manufacturing of organic, safe and natural beauty products at home. Result? I’ve had enough preorders to fuel mass production of my shampoos before even opening the sales site.” – Nancy, creator of natural beauty products