What Entrepreneurs Should Know?
“If you are an entrepreneur and find yourself in dire straits, just revert back to your basics. ”
A businessman who always does his homework and does not forget the basics is more inclined to succeed than those who forget their past in their race towards success. The same thing applies to an entrepreneur. So, if you are an entrepreneur and find yourself in dire straits, just revert back to your basics.Never be arrogant. Never become haughty but be ready to learn from others in your field who are more experienced than you. Choose one as your ideal and learn from his mistakes as you step up the ladder of success. Always be cognizant of your limitations.
Strive for what you can accomplish. For the rest take help from others or employ people who can help you do the task. Arrogance breeds overconfidence and that is not a good thing for anyone.
Don’t ever ignore feedback. Your customers, friends, investors etc. always have a point or two to make. It’s their honest opinion, which they have developed while working with you. This opinion may be critical of you or may even put you off your feet completely. But it’s what the other people find in you.
Mind you, people don’t have the habit of discussing the positive things; they are more inclined towards talking about the negative aspects. In fact, such an attitude is good for an entrepreneur. Therefore, take this feedback as a guide for your future actions and decisions.
Sometimes, it’s not always possible to get direct feedback. In that case, take resort to good business publications and trade shows. You just have to realize the fact that the reviews and feedbacks that other entrepreneurs get are also applicable to you especially when the nature of trade is same. Make this indirect feedback your touchstone and see how well do you fare with regards to it.
Always keep your customers happy. You got to do sound research as far as the likings and inclinations of your customers are concerned. Try to find our where are your customers spending their hard earned money.
Can you divert that money towards your business by the way of incentives or do you have to resort to partnership with the existing players? Such decisions are very strategic and much depends upon your common sense and business acumen apart from your diligence and commitment.
Author - DeeKay
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