Its best for an average person to have an entrepreneurship mindest and build on their existing idea, irrespective of what they are. I have discovered something in enterpreneurship, the business I do now, is only a steppng stone to a bigger idea i have in my head. I have a small business I started about three months ago that has a cash a small inflow every week. Each time I discuss this small startup with my friends, they are rather surprised at the low cashflow, and ask me why I am starting a small business instead of building a large one, i simply tell them that what I have is a means to an end.
Do you have a big idea?, think big and start small, the ideas and cash you pulled together from your small business can definitely finance the big business in the bigger picture.
1.I do not believe in borrowing cash from banks to start a small business. I believe the fact that the money I need to start a big idea in my head is with every potential person. If I can squeeze the money out of their hand by offering them a fair priced product or service, and then gather the capital bit by bit, I am sure in the means to an end. I know this could take quite a long time, but the juice is well worth the squeeze.
3. Invest more in knowledge. Please don’t attend seminars (you are better of buying books and seminar cds). Read through various websites. For more information on starting up a business, you can download “the bootstrappers bible”. It has been a lot of help for me. There is no substitute for knowledge. Visit other entrepreneurship blogs for more knowledge. It will be of immense help.
4.Patience is a virtue, I know its difficult to be patient (in fact, some think its unfair) but having passion for what you do can help you to be more patient as well. Enjoy what you do.
5. Do not be afraid of failure, a business whizkid once told me a phrase, “do the damn thing”, yes, just do it, don’t be bothered about what people say about your small startup. Just make sure that what you are doing is completely right and you are not leaving any stones unturned.
6. Don’t follow trends, especially the general ones. Dont follow it, just do you own thing and be unique.
&. Lastly, don’t let a brick wall discourage you. Instead, look for ways to corner round the brickwall so as to continue on your journey to success. In my own experience, one of such brickwall is lack of electricity.Simply meandred round it by saving up some money (from cash finlows of course) and buying a small generator, inverter and battery.