15+ Proven Tips for Entrepreneurs

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15+ Proven Tips for Entrepreneurs

More and more people are venturing out on their own to become entrepreneurs. With global commerce available through billions of smartphones that rarely leave people’s hands, it’s easier to conduct business today than ever before. In fact, it may be the best time ever for someone to start a new business.

If you’re thinking of becoming an entrepreneur, here’s a list of 15 proven tips that every successful business owner needs to consider.

  1. Get a Coach or Mentor – Learn from the expertise of others
  2. Know Your Niche – Become and expert in your specific field
  3. Knowledge – Learn everything there is to know
    •      Products
    •      Industry
    •      Tax Laws
    •      Competition
    •      Allies to work with
  4. Business Plan – Don’t wing it. Create a roadmap to follow
    •      Cash Flow, Cash Flow, Cash Flow
    •      Keep your cash liquid
  5. Business Structure – Decide what business structure is best for you
    •      Sole Proprietorship
    •      Partnership
    •      C Corporation
    •      S Corporation
    •      Limited Liability Company
  6. Business Taxes – Don’t forget to pay Uncle Sam, but don’t pay more than you have to
    •      Reduce Your Taxes
  7. Separate Personal & Business Finances – Remember, your business is not your personal piggy bank
  8. Know Your Strengths and Weaknesses – Be confident in your abilities, admit your weaknesses
  9. Know Your Clients – Understand who your target audience is
    •      CRM software
    •      Know Your Client’s Needs
  10. Marketing – Market Yourself
  11. Track & Analyze
  12. Always Evolve
  13. Don’t get Discouraged
  14. Remember the Benefits of Business Ownership
  15. Put your money into a financial product that keeps your money working for you all of the time

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