How To Become A Successful Entrepreneur
Many of you beautiful Stylighters will have made the brave New Year’s resolution to start your own business by year end. And we commend you on setting the lofty goal. Mad props, girl. But before you become the fabulous entrepreneur you’re destined to be, and especially if this is your first time starting your own business, there’s a couple of things to consider.
Okay, so there’s a few more things than ‘a couple,’ but breaking tasks down into small, manageable bites will make achieving your aim far less intimidating and a lot more of a reality. That tip’s on the house. (See? You’re already making wise decisions by reading our Magazine.)
Trusting you’ve got a rock-solid, crystal clear and all-other-geology-centred-adjectives business plan, these are the things you need to do before ditching the day job and becoming an entrepreneur queen.
1. Get a good accountant.
First things first: the money. For any new business, managing expenses / incoming funds is an extra faff to be dealt with. If you know how to do this yourself, go you, but if, like most of us, the thought of doing your tax sends you into a bamboozled fog, find someone who gets butterflies from receiving emails from the tax office. If they’re really good they’ll have suggestions on how to maintain your cash flow and practices/processes to put in place before you have to do them retroactively.
2. Outsource.
Anything you don’t know how to do or need help with, you can bet there’s a person that does. And this doesn’t have to be an expensive process! There are so many freelancers who’ll do work remotely via freelance sourcing sites such as People Per Hour (love the digital era) and reasonably price their services. Bonus: Because they’re freelance they’re also more likely to be flexible with pricing, so work your negotiation skills and you’ll end up with a fantastic deal and one less thing to think about. Honey, lighten the load.
3. Reach out.
People are really nice! Talk with them. There’s so many people who are willing to help you, and there’s – surprise of all surprises – a lot of people who want to share their knowledge. Think about it: It’s flattering to be approached by someone who respects your work and appreciates your opinion. So ask the question! Reach out to the person/company you assumed would never be willing to give you a hand, or advice, or even an investment. You’ll probably be surprised by the responses you receive. Hey, if you don’t ask, the answer will always be no.
4. Surround yourself with supporters.
No haters allowed. Rid yourself of the naysayers. Alright, do this within reason. Obviously if several people have very valid points as to why your entrepreneurial idea won’t work, it’s worth objectively considering their comments. Use these to refine your concept and ensure there’s no holes in your business plan. But once you’ve done this and you’re so confident in your future business, there’s no reason to keep people around who rain on your parade because they’re a) too afraid to try something like you are for themselves, or b) are closed-minded enough to not give it a chance. There’s a niche for everyone. Find yours, and find people who believe in you and your abilities.
5. Actually have a work:life balance.
Remember sleep? That thing you’re meant to do for six-plus hours a night? You should go do that. Yeah, yeah, yeah, ‘I’ll sleep when I’m dead,’ rah, rah, rah. No! No. It doesn’t work. You burn yourself out – especially if you’re working on your business while juggling a full time job – so take time to rest. Go out! Put on your party shoes and be social! You freaking deserve it. Slow and steady truly does win the business race, which is why the most sustainable plan of action is allocating a couple of hours a day to focus solely on incubating your empire. Being really diligent with this will allow you to make major steps, be more efficient, and actually have a life. It’s pretty exciting, isn’t it?
