As a pre-cautionary tale, I’d like to share with you some “starting off” survival tips for hopeful entrepreneurs who fear the instability of starting a business. This is what happens to many who come to the realization that business is all about risk. You see, when I started out with my first business, I had no idea what I was doing. To make matters worse, I started to put myself in positions that were unproductive and that would cost me money and resources. It took me years to get out of that rut.
In this article, I’m going to share a few of my tried and true strategies that have helped me to not only start my own business, but to stay afloat during the difficult times. First things first: don’t procrastinate. If you think that you have a huge mountain to climb or that your business is going to crumble at any second, you’re wrong. By starting your life out in the right frame of mind, you can be assured that you will have a firm foot hold on stability.
Get rid of bad habits. Even though you might think that these bad habits are beneficial to your business, they can be the biggest obstacle that you’ll face on your way to success. You have to get rid of these. Here are a few:
* Smoking: Do you love or at least enjoy smoking? If you love smoking, chances are that you’ll smoke a pack a day or even more. This is detrimental to your health because it decreases your life span by a good five years!
* Eating Disorders: Do you eat a lot? If so, then you need to get into a healthy eating regime. Being overweight and eating too much will decrease your life span. This is why getting rid of your addictions is vital to your business. It is a very difficult step, but if you can commit, you’ll be able to stabilize your body weight and improve your self-esteem.
* Losing Money: This is another thing that you can’t afford to do. You don’t want to lose money in your business. In fact, the worse thing that you can do is to keep losing money. This is because it will decrease your market value and this will decrease your profits. You can’t afford to lose money, especially if you want to maximize your profits in your venture.
* Being Overweight: As mentioned earlier, being overweight can be detrimental to your health. If you gain some weight, you’ll also put a strain on your bones. Bones weaken with stress and this will lead to a quick-aging process. If you want to increase your strength and longevity, then you should take measures to get rid of your weight problem. If you don’t want to spend your money on expensive solutions, then you’ll need to start exercising and eating right to achieve the kind of health that you want.
These are just some of the ways on how to survive when faced with an uncertain business climate. Keep in mind that these survival tips for hopeful entrepreneurs who fear the death of their businesses are not absolute rules. There’s no sure way to predict the future. However, if you have some personal values and work ethic, then these tips will definitely help you. If you really want to maximize your business’ profits, then you need to consider all these things.
* Having a Positive Outlook: Avoid depressing thoughts and stay positive. Although it might seem like a cliche, but it’s true. You should always remember that the most successful entrepreneurs have a positive outlook and they always believe that there is still a bright tomorrow even though things don’t go their way right away. So, make sure that you don’t take things personally and rather, look at it as another challenge in life that you can overcome.
* Managing Stress: One of the most effective survival tips for hopeful entrepreneurs who fear the death of their businesses is to make sure that you manage your stress well. Entrepreneurs, especially those who are starting out, face a lot of stress and this can cause major problems in their lives. You can avoid these problems by practicing yoga or mediation every day and taking up recreational activities such as camping, hiking and sailing. By learning how to manage your stress, you will be able to keep your enthusiasm at a constant level and thus prevent entrepreneurs from fearing the death of their businesses.
* Running Down Your Inventory: When you’re just starting out, or even during its early stages, it’s important that you don’t run out of stock. But what you should do instead is to carefully monitor where you’ve put your stocks and make sure that you replenish them regularly. This is because running out of stock can spell doom for your business since you’ll have to invest further into it. In fact, if you can’t afford to invest in inventory anymore, you’ll lose most of your profit to the cost of buying it. It’s better to sell your stock right away than to let it sit idle in your warehouse gathering dust.