29 Ways to Prepare for Entrepreneurship

Know who you are and what you really want. Be you; do you. Don’t select a
business just to make money. Select a
business because it’s really what you enjoy doing. Know going in how much money you need to make
a year to remain in business and be happy being in business.
Find out what your purpose is; your purpose is usually hidden in whatever you are passionate about. You can make money from your passion.
Prepare; thoroughly research your market and competition and decide what you can do differently that will make you stand out. It doesn’t matter if thousands are
in the same business; you are unique and you can make your business unique. Be honest and decide if there’s even a market
for your business.
Prepare yourself financially. Unless you can afford to quit your job, don’t quit your job. If you can quit your job,
make sure that you have enough money to pay all of your expenses for a minimum
of one year and make sure that you’ve purchased individual health
insurance. If you have to keep working
for now, use your current salary as a sourceof financing. Decide each pay day how much you money you
will budget to build your business.
Give more than you get. Share knowledge up to a point. Always give people more than they expect and you will be blessed many
times over.
Educate yourself. Attend teleseminars, webinars and invest in a business coach or mentor; read as much as you can about changes and innovations in your industry. yellow"">CAUTION: Don’t continue
to “educate yourself” and never take action steps. You will continue to educate yourself
throughout the life of your business.
Make sure you ACTUALLY USE what you learn.
Decide who your customer is. Everyone is not your customer. Decide who your niche or target market is and focus on that group only.
Know what business you are in. If you are selling ladies’ suits, you are not just selling clothes; you are selling women the ability to feel good about
their appearance. Get it? Sell and focus on the benefit to the customer
and the feature of the product or service.
Take it one step and one day at the time. Do something every single day to market your business. If you haven’t finished your
website or blog, do something every single day toward building your website or
setting up your blog. Once you finish
one task/goal, move to the next task/goal and do take a step every day until
you’ve completed it.
Make a plan and work your plan. Sit down and strategically plan how you are going to launch this business or how you are going to build this business. If you incur an obstacle, figure away around
or through it. Just don’t stop working your
plan.
Take care of your physical and mental health. You must eat properly, exercise and get proper rest. This cannot be stressed
enough. If you are stressed out, take a
break from everything and recenter and refocus.
Enlist prayer, meditation and breathing techniques; remember to breathe.
Define and plan for success. Decide what success means for you. You already know what you’ll do if the business fails but what you will do if it becomes a smashing success?
Do not look at entrepreneurship as being “self-employed.”"Arial","sans-serif"""> Being self-employed is akin to having a job. Entrepreneurship is a lifestyle; a way
of being.
Leap out of your comfort zone. At some point, you just have to have faith and go for it. Your prosperity is
located outside of your comfort zone.
Know that business is business. If you are entering a business with a family member or friend, have a contract; put everything in writing.
Know when to hold ‘em and know when to fold ‘em. If you have given your all and you are still not making a profit, decide if you should continue on with this venture or try
something new. It’s best to decide
before you start that if you aren’t making such and such by such and such, you
will start another business.

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Tags: business, entrepreneurship, startup

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Comment by LaKeisha Hankins on September 29, 2010 at 1:39pm: Great tips! it is so important to be prepared alot of times as women we just jump out there without prepartation and learn the hard way.

Thanks for sharing

Lakeisha Hankins