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15 Tips for Young Entrepreneurs

An entrepreneur is a businessman who manages the risk-reward equation of business very well. Becoming an entrepreneur is not everyone’s cup of tea especially for a middle-class person, because the mindset of middle-class people is different. They see the world from a different angle, they study hard, get a good job & remain happy with a safe and secure job. They don’t want to take any chance, they just want to be a prisoner of visiting card and the logo on it.

For all these people I would like to say: “Please imagine your future if you have joined any company as a manager in the corporate sector. Five years down the line you will be senior product manager if you are too good in 8 years you will become marketing manager …In 25 years you might become CEO somewhere.

Ask yourself: – “Is this what I want in life?”

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If your answer is no & If you don’t want to sign any complex agreement to become a prisoner of 9 to 5 jobs.

If you have a burning desire to become an Entrepreneur we are here with proven tips that will help you as an entrepreneur.

15 Tips for Young Entrepreneur

15 Tips to entrepreneurs

#1 You don’t need any capital to start, you can start with zero capital. If you have capital, great. If you don’t, it doesn’t mean you can’t start. 

#2 Don’t just think about it, don’t just wish for it, jump into it and do it, if you are serious.

#3 If you believe in a product, never give it up. You will succeed. It may take time, it will cost money.

#4 Choose your field very carefully – there must be a ‘huge’ (large is not good enough) market and potential.

#5 You have to be a Good Team leader –

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#6 If you are not passionate about what you are doing, then you are in the wrong place.

#7 Be early. You can make your mistakes while it is cheap to make them when there is no competition.

#8 Do not exaggerate in your business plan. Under commit and over-deliver.

#9 Get great people – sell them the vision, the idea and share the wealth, be generous with offering stock.

#10 Make plans but remain open to all possibilities as events unfold in the marketplace.

#11 Keep thinking about how to grow the business.

#12 In every business more you know about the grassroots, the better.

#13 Entrepreneurship is risky. So you should have a mindset, should be prepared to fail. If you are not prepared to fail and can’t handle failure then this is not your cup of tea.

#14 If you are starting a business to make money, don’t do it. Chances are that you will fail because there will be hard times. And if your motivation is not something beyond money, those hard times will test you. You will quit and go back to your job. But if you are doing something other than money, you will rough it through the hard times.

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#15 Don’t be an entrepreneur without very good financial knowledge. Or have a trusted partner who knows all about this.

BONUS TIPS to YOUNG Entrepreneurs

#16 Keep patience during difficult times. Don’t lose your balance, and try to carry the team with you.

#17 You can achieve beyond your dreams, so it’s OK to dream and make an action plan to turn it into reality.

Over to you –

If you have decided to become an entrepreneur here are 100 Business Ideas that will help you in starting your own business.

Shitanshu Kapadia
Shitanshu Kapadiahttp://moneyexcel.com/
Hi, I am Shitanshu Kapadia founder of moneyexcel.com. I have written 1880+ articles on this blog. I am PGDBA(marketing), engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. The purpose of this blog is to spread financial awareness and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.
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