More and more people want to ditch the standard 9 to 5 and take control of their futures by starting their own businesses. But starting a business isn’t easy, whether you launch from your kitchen table or have designs on the next global phenom. If you aren’t prepared, your business won’t succeed.
Here are 5 tips by John Turner, Founder of SeedProd, to increase your odds of being successful:
1. Stop aiming for perfection.
When launching a new business, it’s natural to want everything to go smoothly. But if you want to be triumphant, you must let go of your perfectionist tendencies. While you might think that being a perfectionist will be beneficial to your new endeavor by making you more motivated and pushing you to strive for success, that’s not always the case. In fact, as reported by Harvard Business Review, perfectionists have higher levels of stress, burnout, anxiety, and depression.
2. Build a support system.
Building a business is difficult and you can’t do it alone. And I don’t just mean financially. Having a support system in place when you dive into your new business venture will make all the difference. If you think you already have a support system — after all, your parents and your spouse are supportive of your business — that’s great. But you also need to need to surround yourself with people who understand what you’re going through.
3. Think about the long term, not just day to day.
As reported by the U.S. Small Business Administration Office of Advocacy, only about 50 percent of small businesses survive five years or longer. This statistic can typically be attributed to business owners getting caught up in the day-to-day minutia of the business. Make sure to take some time each week to think about the long-term health of your business.
4. Grow your skills.
As a business owner, you never stop learning. You may be starting a business because you have a lot of knowledge and experience in a field, but running a successful business requires a wide variety of skills and expertise. So, as a new business owner, you’ll need to be a jack or jill of all trades. Spend some time growing your expertise in marketing, writing, SEO, bookkeeping, sales, general management, etc., to develop a well-rounded entrepreneurial skill set.
5. Start small.
Your biggest dream might be for your business to become a multimillion-dollar enterprise overnight, but that probably won’t be your reality — at least not immediately. Many new business owners try to do too much too soon because they think it’ll bring them success faster, but it won’t. Instead, start small and grow.
WIth a few tips in your backpocket you can achieve your entrepreneurial dreams!