What Roads Should Entrepreneurs Avoid on Their Ride to Success
Tuesday, November 24, 2015, 6:00 AM | Leave Comment
Becoming a successful businessperson that runs a productive company is a multi-tier process that can be done in hundreds of ways. Some of those paths to your business goals are faster, but riskier than others.
On the other hand, the others might be slower, but also comprise a lower level of hazard.
Also, some rocky roads to business achievements should simply be ignored.
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Working alone
Fifty years ago it was possible to work on your own, but only if you were a craftsperson or worked in a niche similar to crafts.
Even then, serious marketing and financial institutions were already relying on the advantages of brain trusts.
For instance, the ambience and work policies presented in the Mad Men series perfectly depict what the corporative world looked like back then.
So, in order not to get stuck in the middle of a no-way-out road, you should not work on your own, but start hiring people from the earliest days of your entrepreneurship.
They will help your improve yourself and become your cooperators, your colleagues and your friends on the path to success.
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Picky about the area
Establishing a business means that you know very well what you want, at least at its very beginnings.
However, if you opt for a niche that brings low income, your business might soon come to an end.
The key thing here is to overcome the fear of competition. It is not an easy process, which is why becoming an individual businessperson should not be a hastily-made decision.
First you should gather the knowledge you need to run any business. It basically means that you should first work for a couple of employers and companies, to learn the basics of the business-running craft.
Then you can apply those basics in every single area of work.
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Putting all the eggs in one basket
When it comes to the financial aspect of business, new kids in this area should follow one single rule: never put all the eggs in one basket.
If you keep all the assets in one place, they will be constantly exposed to the same level of danger.
What you should do is make a versatile plan to keep your money and belongings safe.
For instance, opening different accounts for different purposes is a great idea.
In addition, you should also consider buying precious metals.
They will keep the value of the money invested in them.
For small businesses, buying 100 oz gold bars is the most reasonable option these days.
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Doing things on your own
When a business person needs to have their premises redecorated or their car fleet managed, they often start calculating how much they will save if their regular workers do those jobs.
If you want to be a serious entrepreneur, never do that mistake.
First of all, your employees will be unsatisfied, because you will ask them to do something that is not within their expertise.
Secondly, you will look mean, just like Ebenezer Scrooge.
Finally, those works will most probably be lousily done. So, instead of doing such things on your own, always hire a professional contractor.
Everybody outsources today and this method should be used whenever possible.
You have to find your own way to business heights, but we have tried to show you what dead-ends to keep away from.
By doing so, your ascent on the business ladder will be faster and cause fewer financial casualties on your bank accounts.
Just work hard, listen to smart colleagues and you will find your road to the top.
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Dan Radak is a web hosting security professional with ten years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. Currently, he is working with a number of companies in the field of online security, closely collaborating with a couple of e-commerce companies.
