- Check the reason you are starting-up a new business.
- Everything starts and ends with your desire to WIN.
- If you can sell your passion to your investors then you can have a working relationship but only when you can show them a profit.
- Be passionate about an inspiring business vision and build it passionately, step by step
- Cold listen to your marketing research findings
- Check your cash. Plan your cash. Manage your cash. Insufficient cash to finance the operations is another top cause of start-up failures (it has to do with poor planning) .
- Start-ups should aim to get as much free advice as possible
- Raise twice as much money as you think you need and spend half as much as you initially budgeted – it will take longer than you estimate
- Separate your business funds and expenses from your personal funds and expenses. It will make book-keeping, budgeting, and tracking of profit / loss much easier.
- An excellent Idea with poor Execution is a lost stake and is a fundamental cause of failure in any business or venture.
- Break the day down into tasks you are accomplishing.
- Failure.. The fear of failing -LOSE IT
- Be totally honest with yourself about your own weaknesses and get people around you with complimentary skills who totally share your vision, commitment and passion
- Focus on bringing in the cash.
- Making sure you have a tight hold on your budget.
- Do something that you like, but also have somebody else that has already done it and can teach you what to do, and what not to do.
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