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Being your own boss

Have you ever wondered how some people have the knack of setting up their enterprise and make it a success?

Published on: Oct 25, 2004 02:57 PM IST
PTI | By
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Have you ever wondered how some people have the knack of setting up their enterprise and make it a success? Or how, still others, after spending a good 10-15 years in a stable job, have the guts to call it quits and move towards the rough path of ‘business’? To be a successful entrepreneur, one needs the know-how of a few vital, survival tips, and to apply them at the same time.

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HT Image

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Being an entrepreneur is no joke. If there are advantages of being one (like not taking orders from the bosses and sticking to the 9-5 routine), there are disadvantages as well (risk of invested money going waste if the business fails). It’s here that the site pitches in with its tips on ‘how to become a successful entrepreneur’. The suggestions at a glance go like this: Choose a business you enjoy. Before starting a new business, study the chosen model and make sure that you clearly understand what will be required to succeed. Ensure there is enough money to keep the business running (financial crunch is always a major reason why most business plans fail to materialise). If possible, hire somebody competent to handle ‘special areas’ like marketing. You will not necessarily be good at everything.

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The site’s USP is its advise by the ‘entrepreneurs for entrepreneurs’ sub-divided under two groups — before the business start-up date and after the business is up and running.

Under the first head, the tips given are to ‘get trained’ and ‘build a resource list’. And under the second head, it goes like — don’t work for less than what you can afford; be covered financially for the first two years; continue to write self-employment proposals (can be used to detect where the business is now, and where it is headed); be flexible and practice good customer service; admit mistakes, correct them and carry on; develop and keep good business relationships; be open to upgrades and make quality the primary focus and aim in every aspect of business.

 
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