Encourage the Next Generation

Whenever possible, I encourage up-and-comers and established entrepreneurs to mentor the next generation of dream-seekers; for it is this insight and insider education that will provide the foundation for the entrepreneurs of tomorrow. Less is always more.Know what you know, what you don’t know and who knows what you don’t.No one knows everything, so don’t come off as a know-it-all. Fit the pitch to the person. 07, 2013 The ability to adapt and change is essential to business success. Avoid exaggerating truths and touting far reaching goals as certainties. So can you. These market testing methods can help you validate your ideas while minimizing risk and expense. Never jump right into a new business without any thought or planning, but don’t spend months or years waiting to execute. Determine how you will utilize these hard-learned lessons to better yourself and your future entrepreneurial endeavors. Here’s what to consider when building your dream team. Guard Your Online Reputation By Lauren Simonds Sept. Demonstrate your worth before seeking investment.

 

Focus. Do what you know.Don’t start a business simply because it seems sexy or boasts large hypothetical profit margins and returns. Take control of how the online world views your business, and protect your bottom line. Maintain a low overhead and manage your cash flow effectively.Learn under fire.No business book or business plan can predict the future or fully prepare you to become a successful entrepreneur. It’s not only important to create a profitable business, it’s also important that you’re happy managing and growing it day in and day out. The Team Behind Your Success By Lauren Simonds Sept. If you need large sums of capital to launch your venture, go back to the drawing board. 24, 2013 A smooth-running, well-coordinated business team can set you up for long-term growth and success. How to Stop Wasting Time By Lauren Simonds Sept.

 

Juggling multiple ventures will spread you thin and limit both your effectiveness and productivity. Simplify the idea until it’s manageable as an early stage venture. Low- or No-budget Test Marketing By Lauren Simonds Sept. You will become a well-rounded entrepreneur when tested under fire. Cleansing a Toxic Workplace By Lauren Simonds Oct. Find ways to prove your business model on a shoestring budget. Post-Deal Management and Client Retention By Lauren Simonds Aug. Data analysis reveals surprising insights about what does—and doesn’t—improve worker performance. These tips and tools can help you add more hours to your day. Focus.Many first-time entrepreneurs feel the need to jump at every “opportunity” they come across. Seats are limited–secure yours now >> I write Entrepreneur.com ‘s Young Entrepreneur column because I believe there are far too few resources directly addressing the nonacademic trials and tribulations young entrepreneurs face along their journey. Don’t go on a fool’s errand for the sake of ego. Entrepreneurship is a lifestyle, not a 9-to-5 profession. These tips will help you increase repeat business.