More For The Beginning Entrepreneur

Its another Monday Morning. On Friday, we talked about a five things things every entrepreneur should know. If you missed that, read up here . Today, we shall be dropping five more tips. Are you ready? Let’s dive in.

  • Let your instinct guide you: This means that your own instincts are an extremely valuable decision-making tool. Let them guide you. If it seems like a bad idea, its probably a bad idea. But the key is to know how to access your instincts. Just sit, be quiet, and listen to yourself. Always take your time. Decisions made in haste usually don’t end well.
  • Get Organized: To be successful in business you need to be organized. Organization will help you complete tasks and stay on top of things to be done. A good way to do this is to create a to-do list each day – as you complete each item, check it off your list. This will ensure that you’re not forgetting anything and you’re completing all the tasks that are essential to the survival of your business.
  • Know who you’re up against: Study your competition. You can’t be too afraid to know your competition and learn from them. No brand is perfect. The key is to learn from the shortcomings of your competition and incorporate that into your brand.
  • Be accountable: If you don’t know your revenues, expenses, capital requirements, profits (gross and net), debt, cash flow, and effective tax rate – among other things – you’re asking for trouble. Be accountable.
  • Listen: Collect feedbacks and reviews from customers. No brand is bigger than its customers. Request suggestions from your customers. Ask them how you can serve them better. Listen to them and act on them.

There you have it. Take these tips and act on them and watch your business improve. Share more tips and ideas with us below. Remember to be productive today.

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