30+ pieces of Advice Every Budding Entrepreneur Needs to Hear

“Entrepreneur” everyone may not know the correct spelling of the word. But you must admit that all of you have given thought to it at some point in your lives.

Some of you might be just bored with your regular 9 to 5 jobs. Simultaneously, some are actually passionate about the startup and have been planning it for years. No matter what the motivation is, the one thing that should be clear to all of you is that entrepreneurship is not a piece of cake. It is easy to build castles in the air, but actually doing the task, and enduring all the hardships that come with it, isn’t easy.

If you are uncertain or unsure, then my advice would be not to go further and wait a few years until you are mentally and financially prepared. Because once you are in it, it takes all your blood, sweat, and time to get success. So, are you ready or not? If yes, then welcome my dear fellow entrepreneur; let me teach you some basics that will help you in the long run.

Have a solid plan

You can’t just leave your regular job based on a plan that you have no idea about. I will repeat it, don’t leave your job just because your friend from 6th grade started a business and is successful right now.

Research research research!

Do a lot of research. Use all the resources available. Ask the people who are already in this field. You can do internships in the relevant industries as well. All of this will give you an insight into what is actually happening in the field, and you will learn a lot.

Listen to all, follow none.

You might be thinking that this point contradicts the last one. But here’s the thing: you must listen to people and take advice from those already in the field. But it is not necessary to follow all of them. Learn from their experience, but make your own path, which is the true essence of entrepreneurship.

Be different:

Be different, behave differently, expect differently. You are not a copycat, so avoid being that. Carve your own way. Don’t do what everyone else is doing.

Do not miss any opportunity coming your way:

If you have an opportunity, grab it because that opportunity might not be there for long. Avail of any good offer coming your way. You have nothing to lose. So, there is no harm in trying,

No short cut:

I know I am again contradicting myself, but you need to learn the difference between an opportunity and a scam. There are no shortcuts to success, so it is necessary to be a little sceptical.

Do not try to become the jack of all trades; hire experts to do the work for you:

This is pretty self-explanatory. It is your start-up that doesn’t mean that you have to do all the work. So, hire experts to do your work for you because they can do it better than you.

Patience:

Patience is the key to success. In entrepreneurship, it takes a lot of time to achieve success. So be patient; eventually, success will come your way.

Time waste:

It’s pretty obvious. All the great entrepreneurs in the world didn’t become successful by wasting time. Value yours as well as other's time.

Motivation:

Everyone who decides to follow this path obviously takes the first step with passion and motivation. But only those succeed who don’t let this motivation die.

Be Optimistic:

Do not lose hope. Sometimes you have to lose a battle or two to win the war. So, don’t be afraid of failure.

Don’t do it alone:

Every Batman needs his Robin, so do you. Do not do this alone. It is better to have a partner to help you through thick and thin.

Great team:

After having a partner, look for a great team. The success of a business very much depends upon the team and their attitude towards the cause. So, select the people who are motivated as well as capable.

Good management:

After having a good team, it is also necessary to manage them properly. You are a CEO, so you should behave like one.

Avoid temptations:

Some people at the start of their entrepreneurship lose hope and give in to other temptations. Don’t do that.

Be open to every possibility.

Be open to every possibility. Be ready for a little U-turn or some failure. Keep yourself flexible.

Take responsibility for yours as well as your team’s action:

Don’t blame your failure on your team or the circumstances. Learn to take responsibility and own your mistakes.

Be a tough cookie:

This might be the most important piece of advice for a budding entrepreneur. Be a tough cookie who isn’t easy to crack. Otherwise, your business will be a mess.

Social skills:

You are an entrepreneur; you will be meeting with many people, e.g. investors, customers, clients, etc. so, you must have good social skills.

Don’t miss your sleep.

A healthy mind and body are necessary for success. So do not miss your sleep. It would help if you had it for an active mind.

Don’t tire yourself at the start.

Work at a steady pace. Do not burn the midnight oil at the start, to only let it demotivate you in case of no initial success.

Listen to customers

Listen to your customers and their feedback as it is the most important.

Investors

A business is nothing without good investors. Try to gain the investors that are as much invested in your plan as are you.

Save money:

Do not depend 100% on your investors because you will face many expenses at the start despite having their support. So be prepared for that.

Don’t be so hard on yourself:

Give yourself some break from time to time. Do not let your work consume you.

Be ready to hear criticism:

Everyone that starts a new business should be ready to hear and endure criticism as it is inevitable.

Be open to learning from criticism:

After hearing criticism, be open to learning from it as it teaches a lot. If you want to swim in this ocean, then one thing that you need the most is a persistent nature. Don’t lose hope after every little fallback. Keep on swimming. Eventually, you will get to the shore.

Have a good support system:

Every business has its ups and downs. Ensure that you have good support from friends and family whom you can turn to in the hour of need.

Take that first step:

Last but not least, now that you have decided to be an entrepreneur, so take that first step and start this long but beautiful journey.