Photo credit: Mr Chris Johnson
You are doing it right when becoming an entrepreneur, or is it not?
Most people (including me) when taking the leap from employment to starting a business, with the wrong reasons.
Why did I started my business?
Oh! because I can make more money. I’m not limited to my salary and I have flexible time (no getting stucked in traffic jams will be a good reason).
It is true that with business, we can achieve those mentioned but is that all we wanted?
A better or valid reason why we start business is because there is demand for it or we have something that we know the market needs (or wants).
And better still, the solution that we are providing means something deeper in us – the things that touches our heart.
Once we are confident that there is a market, we can then do some maths – like how many customers we are going to acquire (daily, weekly, monthly) and how much are we making from each sale?
It is good to assess the risk as well – knowing the lifecycle of the product / services that we are going to offer. Is it something new? at the growth or towards declining stage or chances of being disrupted by a new technology.
Here on, you can plan the details, on how to sell, deliver and fulfil the needs of your customers. Don’t be carried away with too minor details, such as to the extent of designing your website and what fragrant to put in the lounge.
Spend more time on important tasks, not on micro-managing and non-money making activities. We should manage relationships, from customers to suppliers and not forgetting our employees. A good relationship give us extra mileage to our business.
Also, spend time to improve and articulate yours (as founder) and company’s purpose so it becomes part of the culture within your company.
After few years running the business, we will start questioning ourselves. This inner voice within us is good and in fact should come earlier and more frequent (for that meditation or seeking some business advice is a good idea), which help us to better understand ourselves and our real purpose. It may provide insights to something new or even discovering breakthroughs.
Lastly, always be humble and give ourselves a chance to learn more (even we have already knew the topic). Running a business is definitely a humbling experience – the more I learn the more I realised I there are more unknown that exists.
This is something that I would like to share being in business for 14 years.
Take care and have an amazing journey in your business!
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