Establishing a new business venture is not an easy task. Most entrepreneurs fail miserably because they have no set action plan to follow on their new business journey. Following a few basic tips can accelerate your business growth and can also save you stress in the process.
Pick a Mentor
Pick a knowledgeable, trustworthy mentor to guide you through the minefield of obstacles you will face as an entrepreneur. Running a new business requires you to gain the trust of your target market. This painstaking task can derail you quickly if you make the common mistakes of new entrepreneurs. Mentors can pinpoint and explain these common mistakes before they ever happen because most coaches have made the same exact mistakes.
For example, a seasoned mentor can save you year’s worth of headaches by explaining that posting your business page to Facebook Groups is not the way to market on social networks. Leverage your knowledge. Follow a mentor.
Work on Your Mindset
Spend 60 minutes daily working on your mindset to grow your new business quickly. Most entrepreneurs spend 8 to 12 hours working on their business daily. This crowd usually struggles to see any business growth within the first 6 to 12 months of working their venture because their mindset needs fine-tuning. If you are like most entrepreneurs you likely carry serious doubts about your new business. You may doubt your abilities to prospect, build relationships, and establish a loyal customer base. You also may feel that your experienced competition will lap you when it comes to growing a successful venture in your niche.
These doubts must go if you want to succeed because doubt-filled, frightened minds influence entrepreneurs to make weak, sorry attempts, full of doubt, and fear, which of course hamper your business growth. Before you work your business spend 60 minutes working on your mindset each morning.
Leverage Your Presence on the Internet
Ignoring the internet can be a massive mistake for any new entrepreneur. Leveraging your presence online may seem wasteful, particularly if you’re running a local venture, but the internet can be the most powerful weapon in your arsenal if used correctly. Running an email newsletter, building a popular Facebook Fan Page, and developing a well-followed twitter feed helps you to stand out from your old-fashioned, internet-averse competition. If you are a traditional offline entrepreneur don’t let your stubbornness get in your way. Use the internet to expand your presence quickly.
Press the Flesh
Just because you’re running a new business doesn’t mean you can exclusively market online and expect to succeed. Meeting people in person and building authentic bonds offline forms the foundation for a successful business venture. Smart entrepreneurs know that in person, 1-on-1 meeting build relationships more quickly than impersonal online connections. Meet with fellow entrepreneurs at your local coffee shop. Connect with potential clients offline. Add an offline component to your campaign to press the flesh in person and turbocharge your new business growing efforts.
Finance
We talked a lot about capital for businesses and starting your own company and there are truly many things to consider and account for in order to mitigate financial risks. Growth should always be a good thing and nobody should be scared of side-effects that could be introduced. Surety bonds are needed for every business owner as they help protect public and private investments by providing a secure foundation.
Absorb Everything You Can
You don’t have to be an expert in every aspect of your business–after all, there are plenty of people we can hire who know far more than we do about a particular subject, But, any good business owner knows as much as possible, and makes it their mission to know what is going on in all respects of their operation, whether it is familiarizing themselves with finance resources or attending networking events to talk shop with other people in their industry.
About the author: Kelli Cooper enjoys blogging about all things business.
Photo credit: Startup Stock Photos
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