Things I Wish I Knew Before Starting Out on my Start-Up Venture

When I look back before my phase of starting my own business, I realise I had made some pretty bad mistakes over the last few years, but the past is past and I have come a long way since then and can freely admit that everything I had learned, I had learned the hard way. If only I knew all the stuff that I know now back then, my start-up journey would have been that much smoother and I might be living a more joyful life than I currently am.

Fortunately for you, I will reveal all those hard-learned secrets of success that I wish I knew earlier before starting out on my start-up venture.
  1. Business ideas are overrated until and unless you develop the courage to carry them out. Believe me, there are miles between an idea sitting comfortably in your head and actually working passionately to turn that big idea of yours into a reality. So, get going.
  2. If you are seriously considering starting your own business, do learn the ins and outs of properly managing your cash flow otherwise you will end up spending way more money than you are bringing in. plan a budget beforehand to know where your hard-earned money is going.
  3. Access to capitals is another major issue you will face in the beginning but its imperative to know that apart from banks, you can also raise funds through angel investors, incubators, grants from venture capitals and investment funds, government programs etc. to name a few.
  4. As an entrepreneur, you simply cannot do everything on your own despite your unwavering dedication, I mean you cannot design a logo or handle the accounting. So, it’s more convenient to leave these to the experts or better yet, outsource and automate the process wherever possible.
  5. A few years back I might not have recommended it but today having an online presence is crucial for the survival of your business irrespective of which niche you belong to. So, hire a website development company in India or elsewhere to build you that perfect website your business deserves.
  6. The one time I actually behaved pretty smartly was when I decided to hire a mentor to help me with my business. I realised early on that I needed someone more experienced to drive in faster results, though often times I fail to do as was advised because I wanted things my way, never do that.
  7. The last but not the least, never give up. Never ever think of giving up. I myself had to shut down my business a couple of months after I launched it, but I never gave up. Remember this, accepting your failures as a lesson while continuing to develop business skills is the key to success.

Though there are a lot many things I learned while starting my business, not to mention the ones I learned the hard way, these are the seven that stick out the most. I not only consider them as lessons for me personally but also as coaching clients for time and time again.

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