It takes milestones to start a business
So you may be all ready with the next business venture but there are some things you need to be taking care of especially when it’s a new arena you are trying your hands on. Now, as I progressed into my own business I realized what type of shit mistakes I had been making all these years. Progress without a jolt is not possible, you have to fail somewhere to reach the top point of a ladder. Believe me, starting a business is no hard work either, you have to be confident about what you are doing and be aware of the markets you are dealing in. Everybody thinks of getting filthy rich someday but it requires a lot of efforts and willingness to discover the actual markets and the products or services you are dealing in.
In business, everyone gets greedy and sometimes it pays to be greedy but you should not go overboard to be very greedy that might lend you in double trouble. When I started with my first business, there was a time that I wanted to acquire all the markets and in vain I nearly failed in my business for the greediness of attaining the whole of markets. Since then I have learned a bigger lesson not to get greedy once you have started acquiring your goals for life. There were several lessons I learned while I was doing business and some of the most important lessons I learnt were:
- Give out your equity with freedom:
Do not be afraid to give away your equity. You must have surely gathered some money to start with your business and when you give out equity you will own less of the company. You can take some valuable advise from the friends who are lawyers. When you give out your equity it vests over 3 to 4 years. If ever, you happen to make bad decisions you will never loose out on the equity except for a small fraction of the total amount given to the people.
- Starting a business is no big deal but you obviously need to hire some money to get it started for once. As far as possible, avoid taking outside money in to your business and always strive for small before planning to munch on a bigger pie. You do not earn millions or billions in just a few days of starting your business. You need patience and hard work to get going with those.
- The successful start of a business does not ever mean that it is going to remain the similar way all your life. There are ups and downs that we may have to adhere to, in your business history. Millions and billions of dollars are lost in one each day while trading the stocks so yours is not a big deal. So always be ready to welcome an unwelcome storm.
- No business is recession proof and you may never know when the boom or doom will strike in. Always keep a little money aside for the hard times, which may arrive, in your future endeavors.
- What seems like a good times during the start of your journey might not be always like this. Do not assume that things will remain the same always, prepare a well planned strategies to over come any bad times.
- In a business you either get to make too much money or you just stand no where on the podium. So instead when I plan for my business I make sure that I just do no put all of my money into risking just one business. If at all I am unsuccessful in one business, I can at least have a little profitable share in another business.
Diversifying your business plans calls for a big deal and it requires too much of brain storming sessions as well. When you concentrate, do not concentrate way too hard in just one part of your business. Keep proper eyes on all the departments of your business and also different businesses that you are doing.