Free Essay

Advice to a Friend Opening a New Business

In: Business and Management

Submitted By catoosh
Words 386
Pages 2
Starting a business takes determination and passion and excitement don't run away from Initial failure. One of the most exhilarating things a person can do is starting a new business But unfortunately, a few bad decisions and some poor breaks and it can also be one of the most stressful and disappointing events in a person's life and a complete waste of time and money.
The most practical examples of successful businesses and instructions on how to be like them, from using Social Media to networking clubs to build business and your job is to figure out what market you can best serve, then develop a strategy and budget to go after them.
You must know three things which you should ever consider when you start a business and want to succeed: Passion, Excitement and Faith. If you don't love what you do, if you don't put passion in it, and feel motivated to wake up early in the morning, that business will never grow. It will find a way to survive in time but will never grow.
The first thing you must know that when you are starting a business it won't start giving profit instantly from the time you start it. Hence you must wait and learn and apply new ways of doing business to succeed, not leave it after initial failure.
My advice to a friend starting a new business is as follows.
Vision. Never let money get in the way of vision. Ideas and concepts are free. Always do yourself the legwork prep work and homework. Prove to the people around you that you are dedicated and committed and they will want to invest in YOU, not your business.
Learning from Others. Learning from others' mistakes is perhaps the best way to strategize Success.
Don't Look Behind If Starting a Business. For instance, if you want to grow with your own business, just make sure first and then don't look behind. Always remember loss and success fly together, so don't be disheartened about little things. Be brave and never be downcast.
Make the job fun for employees. Always make sure you keep a pulse on the stress levels and accomplishments of your people around you and reward them.
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http://sbinfocanada.about.com/u/ua/startingadvice/startingbusinesstips.htm
http://www.entrepreneur.com/article/222524

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