Any useful advice for new business owner?

carney · Apprentice Joined: 21 Jun 2006 Posts: 5

I am a new business owner, actually I just became one several weeks ago and I am full of enthusiasm and hope that everything is going to be just great with this. I have great plans and they are all working well in theory. Am I justifiably happy and should I start worrying? Sometimes I am getting the impression that I am not taking this business seriously, just because of the way that I feel and act. Do you have any useful advice for new business owner?

tiphany · Apprentice Joined: 20 Jun 2006 Posts: 11

It is, in theory again, a great thing that you feel the way that you feel, which means that stress level in your body is lower than it should normally be and it is essentially good thing. But the fact that you are worried over the thing that you are NOT worried is confusing me. Is it possible that you don’t see your fear? I believe that you should advice with your partners, if you have some, and see if they are feeling the same way you do. If they do, than I guess that you are acting objectively after all.

Yoshiko · Apprentice Joined: 23 Aug 2008 Posts: 3

I believe you need the following :

1) have deep pockets - in ensuring that your business makes a profit only after a long while (at least 6 - 12 months)
2) keep good industry contacts on hand - whatever namecards and mobile numbers you have accumulated will come into use. leverage on them
3) have perseverance - being in business is very unlike looking forward to a paycheck at the end of the month, its ensuring that you pay your overheads, workers, and maybe some monthly income if possible. But most importantly, it's the constant pressure that one has to deal with in managing a business. You are a Leader, manager, marketer, financial controller, HR manager all rolled into one.

Any useful advice for new business owner?

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