Helpful Hints For Becoming An Entrepreneur

Helpful Hints For Becoming An Entrepreneur
 
Are you thinking that you want to be your own boss and start a business?  
At FL-Accounting & Advisers we present this week’s tips for you ~ Helpful Hints For Becoming An Entrepreneur. 
 

Business Idea - Identify A Need Or Problem To Solve For Someone
 
“People want to do business with you because you help them get what they want. ” - Don Crowther, Social Media Expert
 
 
Get The Right Team Around You
 
Most people cannot do everything needed for running a business, take the time needed to evaluate your needs and then hire the best people you can.   
 
“Great things in business are never done by one person. They're done by a team of people.” - Steve Jobs
 
Overnight Successes Are Rare, Prepare For The Long Game
It takes a long time for an 'overnight success', experts predict that most businesses achieve success in three to ten years.
 
“Things that look like an 'overnight success' typically are not.” - Jason Calacanis
 
Focus On Strengths, Not Weaknesses                        

Use your time wisely and focus on the areas where you have your strengths. Hire or outsource to take care of the areas where you need help or don’t have the time to do well.
 

Understand Your Value To Your Client
 
Why should a potential client choose you, what makes you attractive to your customer? Be able to articulate and explain your value, expertise and the reason why a client needs your services.
 
Know Your Client; Not Every Client Is Right For You
 
Know your target client. And more importantly know the customers that require so much effort that it outweighs the benefits and profitability to work with them ~ and don’t work with them.    
 
Learn From The Mistakes Of Others
 
Great learning opportunities come from mistakes.  Find out what made other businesses fail and avoid the pitfalls.
 
Entrepreneurship is like a computer game in which you have to master every level before achieving success. … The best way to skip some levels and to increase the odds of survival is to learn from others who have already played the game.” - Vivek Wadhwa

Be Prepared For Failure  – And Sooner Than Later

Many businesses fail, plan for it.  However, when a failure happens - keep working what works; fix what needs fixing; & stop what needs stopping.  Keep calm & try again!


Becoming an entrepreneur can be an exciting but stressful time.  We wish you success in your endeavors.  

We hope you enjoyed the Tips of the Week by FL-Accounting & Advisers, your boutique accounting company.  

If you are frustrated with your finances, we are here to help you so that you can focus on your business.  Contact our office today for a consultation with one of our advisers.

Reminder:

September 15th, 2016 Is the deadline to file for Partnerships, S-Corps and LLCs to issue K-1 forms.

Wendy Ettorre