Are you thinking about starting a new business? New to the world of entrepreneurship? We’ve compiled a list of important things to do to help ensure your success.
Here are our Nine Commandments for the Beginning Entrepreneur:
- Raise capital when you don’t need it
- Focus on a well-defined limited business idea and define the comparative advantage of your product/service
- Listen to expert advice
- Choose your team carefully – don’t compromise
- Don’t argue with the market
- Develop a strategic business vision – learn from your mistakes
- Enlist the support of family and friends
- Stay in touch and learn from other entrepreneurs
- Learn about the life cycles of the entrepreneur and the business
Do you have more commandments to add? Post them in the comments section. Entrepreneurship, while not for everyone, can produce extraordinary rewards. Contact our team of small business experts if you have a small business dream that you want to make a reality.