If you are like the cowardly lion, go back to Oz and ask him for the Tin Man's heart of steal. 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
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Article by: Victoria Llerena
Vicky Llerena is CEO, host, and digital marketing strategist for Social Vibes Media. No amateur to the media industry, Vicky brings with her over ten years of experience having worked at Univision WXTV-41, Hudson Media Group, and PRNewswire. She works with small businesses and solo entrepreneurs to help them grow their business online. Vicky is also an adjunct professor at New Jersey City Institute of Technology in Newark, NJ . Her articles have been featured in Huffington Post, NY Press Club, CEO Blog Nation, andHispanic Market Works, and many more online publications. Associations: Hudson/Hoboken Chamber of Commerce, Statewide Hispanic Chamber of Commerce , and Women Business Council of New Jersey