If you are like the cowardly lion, go back to Oz and ask him for the Tin Man’s heart of steel. Of course it takes guts, grit, and gruesome coooourage to do what we do: grind and hustle. First, for most entrepreneurs who are not the recipients of a large sum of inherited wealth, we took the grand risk of either letting go of our 9-5 corporate jobs or took the decisive decision to change our life trajectory with little to no money in our deep, deep pockets.
Things to consider and pitfalls to avoid:
- Do have a savings account for three months worth of income that will cover your monthly expenses
- Don’t start a business because you feel or think you can do a better job than your boss or your company.
- Do start a business if you’ve researched the market and identified a need for the market
- Don’t start a business idea without testing it or performing market research
- Don’t assume you will become wealthy the first year of opening your business
- Do make sure you have a good credit
- Don’t undervalue the quality of your services
- Do look at what your competitors are offering and the way in which they offer it
- Don’t isolate yourself from the world
- Do connect with other entrepreneurs, thought leaders, and positive folks
- Don’t over-promise and under deliver.
- Do stay positive