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Thinking about a business? Here are the key values you should have as an enterpreneur

Updated on April 5, 2015

For a second an adult thinks of revenue generating project, his or her mind drifts away from the regular jobs and dream career. “I need to start a project that can complement my income. Whatever I get can help me pay my mortgage or other things as I save part of my salary”, you could be saying. Across the world and many countries, costs of living are shooting beyond the roof and people are faced with the reality of having to make ends meet despite the glaring difficulties. The reality that one can never depend on the salary is never new. For this, many people are diversifying their income sources and businesses are the most accessible alternatives.

The mistake that most of us commit is that we enter into businesses for the sake of it-to supplement our income and that is all. In many circumstances, we fail to acknowledge the fact having a business is something that should go beyond reaping profits and extend to its sustainability and the short-long term benefits. The risks must also be looked at. You must be thinking of a business, right? Here are golden traits that you should have to strengthen your bid.

Enthusiasm, Enthusiasm and enthusiasm

First of all, you should be enthusiastic about your business. Whatever you have settled on doing must be given that kind of respect and love. It is going to either expose your worthy or terrible downsides that reveal the hidden rot in your capability. It is advisable that you settle for a business that will not inconvenience you in a way. For instance, if you have worked in hairdressing business and you want to start your own, it would be very prudent that you have personal feeling of linking with the clients through that enthusiasm. Enthusiasm brings about the much-needed confidence in the business.

Be decisive-Choose what you are familiar with, avoid non-experimented and unfamiliar ideas

When settling on a business idea, you should be able to put on a weighing the alternatives you have. Decisiveness is key to jump starting the whole process. Why? It is because if you have the first-hand experience about a business in terms of how it operates, there is a probability that you will be able to know the possible risks and benefits. Being decisive here implies that you are not taking your ambitions overboard. It means that however lucrative a business appears to be, you can say NO to it for now pending your efforts to dig deeper for more knowledge about it.

Be a risk-taker at whatever cost

As an entrepreneur, taking risk is a tradition that you can never forfeit. When starting a business, there are risks and opportunities. But quite funnily, most people use opportunities as the magnet for their venture into such businesses. Others view risks as deterrents for their venture, for they fear running into losses that are difficult to recover from. Nonetheless, a business person worthy of success is like a hunter in the jungle who expects to wound and be wounded. It implies that once you are in that boat, sail as you eye the opportunities and salivate for them but you at the same time become conscious of the possible risks for your actions. Based on this, the business can do well on the grounds that you are benefiting from unexploited opportunities that many businesses have dreaded.

Never be afraid to emulate

When conducting a business, there are higher chances that other people elsewhere have similar businesses and are doing better. If you feel that your rival is doing better than, emulate. By emulating rivals, your business will likely have the void filled and you can position it very well and beat competitors.

Running a business therefore can never be driven by the notion that 'businesses are meant for supplement our income'; there should be other values and reinforcing attributes that support the course of reaping those profits to support that income.

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