5 Things Every Beginning Entrepreneur Should Know. 

Its Friday again!!(drumrollsssss). But before we get into the fun activities of the weekend, we would love to share 5 things every beginning Enterpreneur should always know and keep in mind. Let’s get to it, shall we?

Be Focused: Many first-time entrepreneurs feel the need to jump at every “opportunity” they come across. Opportunities are often wolves in sheep’s clothing. Avoid getting side-tracked. Juggling multiple ventures will spread you thin and limit both your effectiveness and productivity. Do one thing perfectly, not 10 things poorly. 
Do what you love: Don’t start a business simply because it looks good or boasts large returns. Do what you love. Businesses built around your strengths and talents will have a greater chance of success. It’s not only important to create a profitable business, it’s also important that you’re happy managing and growing it day in and day out. If your heart isn’t in it, you will not be successful.

Make sense in 30 seconds: From a chance encounter with an investor to a curious customer, always be ready to pitch your business. State your mission, service and goals in a clear and concise manner. Fit the pitch to the person. Less is always more.

Know what you know, what you don’t know and who knows what you don’t: No one knows everything, so don’t come off as a know-it-all. Surround yourself with advisors and mentors who will nurture you to become a better leader and businessman. Find successful, knowledgeable individuals with whom you share common interests and mutual business goals that see value in working with you for the long-term.

Act like a startup: Forget about fancy offices, fast cars and fat expense accounts. Your wallet is your company’s life-blood. Practice and perfect the art of being prudent and accountable. Maintain a low overhead and manage your cash flow effectively.

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