Starting your Own Business

8 Simple Rules to Do it Right the First Time

Content:

1. Have a Vision
2. Build Your Confidence
3. Make a Commitment
4. Aim for Results
5. Take Action
6. Timing
7. Be Caring
8. Perseverance

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1. Have a Vision

Your vision is your destination. You’ll need a map to help you reach that destination, which will be made up of goals and results. The vision is the vital part, otherwise, you won’t know where you are heading and your goals will be irrelevant.

In my article “Hello my new me where do I start from?” that you can find in my blog the ‘Business Gym’ I wrote about the Big Idea. That idea is a good start, but is not enough. You need to convert that idea into a Vision. On the way to have that vision consider also looking for your IKIGAI centre: that sweet spot where you get paid to do what you love. 

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2. Build Your Confidence

If you don’t believe in yourself or your idea, why should anyone else? Gain confidence through gaining experience, skills and knowledge. Change your perception of failure to realise that it provides feedback. Feedback provides essential learning to help know what not to do next time.

As we all know learning will allow to start thinking about what you can do and what you cannot do. Confidence is built on the pillars of learning, knowledge and reflection on the past actions vs the results achieved. In one word: experience. 

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3. Make a Commitment

Committing to follow through once a decision is made is an invaluable ally on your road to success. Be prepared to work hard and make sacrifices. Commit to a common goal and make it happen, but commit to yourself and your health too.

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4. Aim for Results

Tycoons make things happen. They are driven by results. Planning for your success is as important as achieving success. You need to know exactly how you got there so your success can be duplicated, scaled-up and multiplied. This is the pivotal point that turns an entrepreneur into a tycoon.

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5. Take Action

Action is the bridge between your vision and results. Action involves figuring out how to get from where you are now to where you want to be. Without action there would be no results. 

Assign a date for completion and do not follow the idea of perfection. This quest can be easily converted into an infinite chase: perfection is a disguise for not doing. Which results in procrastination (find more info about Procrastination vs Productivity.

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6. Timing

Anticipating the changing needs of the market and partners is crucial. Timing when to enter a market or not will help optimise success, as will knowing the right time and circumstances to start your business.

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7. Be Caring

Relationships with people are key. Business and personal relationships should be cherished. Treat people how you yourself would want to be treated. Always remember that people are lifeblood and engine room of any business. 

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8. Perseverance

Tycoons go the extra mile. Perseverance, sheer determination and tenacity are core characteristics of their mindset. Successful entrepreneurs battle against all the odds to build their business and always appreciate when it is time to get out. Try to have flexibility to work outside of your own comfort zones in order to bring your dreams to fruition.