Dos and Don'ts of entrepreneurship

Dos and Don'ts of entrepreneurship

Mar 22, 2019 Business, Business Strategy, Development, Entrepreneur

Entrepreneurship is a tough route. If you are wondering how to grow your business, how to start your business or how to become an entrepreneur, following certain Dos and Don'ts is essential to make sure you do what you have to. It is a list of tips and principles one needs to stick to under any circumstances. They are of great help and will always be your guide. So go on have a read and know what needs to be done.

Dos

Do follow your goal: While working towards your dream, you can easily fall under the spell of someone else’s goal. You may get tempted by their journey and results. Just know that nothing can be like your path and dream, follow your goal and ace it.

Do brace yourself to work hard: Nothing comes easy and entrepreneurship certainly does not. Brace yourself for all the hard work that you have to put in. Late nights, early mornings and tough schedules, willingly work towards every objective at every hour.

Do network: If you are seeking tips for 'How to become an entrepreneur' here is the most important one- Networking. When you are an entrepreneur you are in charge of customers, vendors and resources. You have to manage each one well, in a way that they work in your benefit. Building relationships here is a must, as this will only work in your favour.

Do sleep well: If you do not sleep enough, you will surely not be able to give your 100%. An entrepreneur has late nights and early mornings. You would certainly have to sacrifice your beauty sleep, but you have to compensate for it as well. From 24hours of your day make sure you sleep for at least 8 hours.

Don'ts

Don't be a spendthrift: It is believed that one requires huge funds to start a business. Honestly, depending on the nature of your business, you can even start a business with limited personal funds. The key here is you must not be a spendthrift. Be it spending for advertising, marketing or launching a new extension of your product, do not do it if it is not needed.

Don't give up: The journey is going to be tough with a lot of roadblocks, accept it and walk. The one thing that one must certainly never do is giving up on your dream. It is ok if you decide to take a break, stay and hold on for a while, but do not completely let go of your dream.

Don't forget your passion: When you are an entrepreneur, fame and money come along the journey. Don't just work for them, work for your passion. What is the purpose of your business? Don’t lose your purpose in the process of building fame and money. Keep the zeal alive and work for it.

Don't be a jack of all trades: Some businesses are lucky enough to attain success at an early stage. Although, some businesses do not have things working for them. When a business is low, the one out that many entrepreneurs opt for is extending their line of business. So here is the thing, when you launch new products under the same brand, make sure you do not multi-task it all, just focus on one aspect. And if you do have many products at hand, use the right business tools to manage all of them effectively.

The Dos and Don'ts are vital. If you wish to survive and thrive, you must note down these Dos and Don’ts and make sure you follow each Do and strike off the Don'ts.

Pramod Mehta In a career spanning for over 2 decades, I have mastered several skills. Being resilient, managing tasks, multi-tasking and consulting are my forte. Years of being in Chartered Accountant profession has endowed me the skillsets of being Entrepreneur. Applying my learnings, with utmost diligence, to every task I adopt is natural to me. I am also the founder of iShoutnow Technologies Pvt. Ltd, (www.ishoutnow.com) which is an application that lets customers discover Real time deals, discounts and offers available around them. It also lets merchants Shout out their offers to customers! It is an open platform for relevant, timely and geographically local information. The application is simple and user-friendly, and also offers a Do-It-Yourself method for creating adverts. With the Zeal to make a difference, I believe a brilliant idea and the power of internet can enrich human life.