I promise I will never do this again!

In my entire career there had been unique experiences I met with. Some were good, some were very good, some were bad and some were very bad. In life we learn lessons each time of the day, every transaction we make has something to learn from. I had learned lots in life especially with different businesses I had been doing. Some businesses yielded me good profits while some were a total failure. As I went deeper into learning more things, I explored there are equal number of opportunities and risks involved. But there are no businesses without risks, I guess! And I went along and until the time I stumbled I did not recognized that there were some few mistakes I did I shouldn’t have!

Here are some of the learning lessons from my bad experiences:

1. People tend to grab the opportunities coming their way, but I advice, not to go for it all at once. Look upon all the possibilities, research well on the things you are not much aware of and then proceed towards that path. I grabbed way too much for the opportunities that came and blindly invested my money in it only to find that those businesses were not meant for me.
2. It is really important to incorporate your business and what is more important is that you do with the right type of incorporation. It may not sound important at first, but gradually as your business expands, you will need all the details.
3. Be very careful when it comes to your partner or investor or stakeholders. In my personal experience, I have had a couple of instances where I became nearly broke putting my money for my partner or paying them out from the company just for no reasons.
4. A company grows when you have more number of employees to work for. Don’t hurry up things to hire anyone who comes by your company doors. Have a proper hiring process and first determine the need of the job, the qualification needed, how much experience – these would make your tasks a little easier.
5. Be strict with your employees right from the very first day, if you are not, then they shall take you for granted. In some days, you might find they are not obeying you. Have a disciplined working environment where people work diligently.
6. It really gets difficult to collect money from people especially when they are into business with you. Make a point to collect your money on regular basis, do not keep it pending unless if you really have to.
7. At the starting phase of your business, you will always have some or the other problems. There are times where nothing feels okay but you have to make it okay. No company is without problems; the magic lies in overcoming them and being perfect always.

Mistakes are just the learning lessons of life; you cannot stop your business and run away in the bushes. Learn new lessons from every mistake you make but do not repeat them. No one is perfect, not even you or me, but try to clear all your imperfections with perfect ending.