25 tips by entrepreneurs for entrepreneurs

by Cynthia Schmae

Ready to leave your job behind and become your own boss? It takes a certain kind of person to make it through the first few years. To help you along, we’ve culled the best tips from our own members – people with years’ of experience in running their own businesses.

  1. Don’t work for less than you can afford to, but do offer a discount to customers or clients who sign contracts with you.
  2. Find people who will refer jobs to you. If they send you nightmare jobs, make sure they’re balanced out with rewarding (profitable!) ones.
  3. Surround yourself with supportive people and don’t be discouraged by anyone. If your idea is good and you’re determined to stick with it through the first few difficult years, your chances of success are great.
  4. Be flexible in your thinking. Prepare to change the way you work, the products you use and the services you offer, in order to meet the demands of your customers.
  5. Admit your mistakes, correct them and carry on.(For example, if you purchase a piece of equipment that does not meet your expectations, send it back, sell it or exchange it!)
  6. Develop a good relationship with your bank manager and creditors. Show a genuine interest in solving problems. Pay as much as you can afford to, to everyone to whom you owe money.
  7. Get trained! You’ll be spending a lot of time doing things that have nothing to do with your area of expertise, like bookkeeping, marketing, and IT support!
  8. Avoid isolation. Even if you work closely with your clients, you won’t be part of a gang anymore. Develop your own network of entrepreneurs that you see regularly and bounce ideas off. Ideally they’ll allow you to vent your anger and share your successes.
  9. Separate your work and personal life. Set your working hours and stick to a strict timetable. When you’re not available to clients, leave a message on your answer machine letting them know when they can expect a reply from you. Let them know how to reach you in an emergency.
  10. Plan some ‘thinking time’ into every day. If you pack your diary with back-to-back activities, your business will never grow.
  11. Plan time to do something you enjoy at least a few times a week – recharge your batteries!
  12. Write a business plan so you’re clear about what you’re doing, and update it every year.
  13. Develop an excellent telephone manner and react quickly to any complaints or problems.
  14. Confirm orders personally and immediately, especially those you receive on email.
  15. Never lose sight of the big picture – look for innovative, little-explored directions in which to take your business.
  16. When you find someone cleverer than you, employ them!
  17. Solicit advice from people who know, for example, other entrepreneurs and reputable small business advisers – the DTI offers lots of information and support for new businesses.
  18. Don’t enter a business or a venture that you know nothing about. You’ll be running to catch up for the rest of your business life.
  19. Have an existing, loyal customer base and start locally.
  20. Be aware that you will get through any initial investment quickly, so ensure you are covered financially until at least the end of the second year.
  21. Focus on a specific goal and work at it until it’s achieved
  22. Never worry about how to get things done when you are first developing your idea.Money and resources will come together once you have set your goals and begun to work at them.
  23. Make quality in every aspect of your business your primary focus and aim. If it isn’t, you will eventually go out of business.
  24. Use the Internet. Use email. Build a website (if you aren’t familiar with websites, try HTML for Dummies), send out email newsletters, buy online banner advertisements and register your site with all the major search engines.
  25. Delegate. You might have to hire a good PA, lawyer, or marketing professional to ensure you’ll be profitable in the future.

source: ivillage.co.uk

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46 Responses to “25 tips by entrepreneurs for entrepreneurs”

  1. katie cannn says:

    Many thanks for this informaton, I found it extremely valuable an encouraging.

    Katie cannon

  2. MatHamlin.com » Blog Archive » links for 2008-07-19 says:

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  3. Frank Dudek says:

    Having had a business partner who was not supportive, I hold number 3 “Surround yourself with supportive people” especially true.

  4. Pachi says:

    “Don’t work for less than you can afford to” is something i found out the hard way…. wish u had blogged this earlier :)

  5. Gill says:

    I can so relate to your list … thanks for that!

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  7. karanam srikanth says:

    Fantastic article thanks for the information i once started a business without any planning and went in to a great loss. You are helping a lot of people by giving this information which is very valuable.

  8. followvicslead says:

    One tip that has been helpful to me as I’ve built my home business is to work more on myself than on my business. As I become a better business person, my business will also build.

  9. writermyk says:

    These tips would be really helpful in running your own business.
    Thanx for sharing…

  10. writermyk says:

    These tips would be really helpful in running your own business.
    Thanx for sharing…

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  12. tmelandro says:

    When you get into a business the marketing part is the first step to grow the business and beinging successful and always remember ” Marketing has a beginning, a Middle but Never has an End, until you close your doors.

  13. real estete says:

    Can you provide more information on this?

  14. Honest Internet Businessman says:

    Focus is key. All other 24 tips don’t work as well when focus is not there. That is why most entrepreneurs drink more than 6 cups of coffee every day!

  15. 25 tips by entrepreneurs for entrepreneurs « Suzanne LaChapelle’s Weblog says:

    [...] See full list > [...]

  16. Randy says:

    This is a really great article. Some of them we have all learned the hard way, but this is really great. Awesome post!

    Happy Business!

  17. Accept Payments says:

    I agree with the earlier post marketing is ongoing. If you get it right you’ll be successful.

  18. Seh says:

    To create awareness and exposure for your business the internet could be very fruitful. A great tip would be to post online videos of your work and where you’re located as well testimonials. There’s a company that’ll let you post video free and help you target the right keywords to send traffic to your site. You can do that at http://www.Adwido.com

  19. Robert says:

    I am so glad I found it. It is easy to understand and fun to read.
    Love your writing style and the design of your blog, your blog is great.
    Thanks for the info

  20. Retirement Information says:

    Thanks for the useful list of retirement information. Entrepreneurs generally find it difficult to organize a retirement plan, but your tips are of great use.

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  22. Website Design Newcastle says:

    “Don’t work for less than you can afford to…”

    It sounds like such common sense doesn’t it? Yet it is amazing how many businesses fail because they get drawn into ‘buying’ contracts by being the cheapest and forgetting to sell on anything other than price. Sometimes the obvious points are the most relevant and often missed. Nice article.

  23. Patrick says:

    Very good advice to live by. I have a friend that started a business months ago. I’ll have to send him this list.

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  26. company registration uk says:

    They are all very great points but number 12, write a business plan is definately very important.
    This way you are clear on what your objectives are.

  27. Business Entrepreneur says:

    Each tip is brief and concise. Great list you have!

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    + Use social Medias (Facebook, Twitter..)

  30. Essence Sweat says:

    Today I came to the realization that I control my destiny…I mean we all know it …but do we really act on this power daily. I found myself going through the motions one client after another, not moving consciously toward fulfilling the bigger picture. Today I realized that I need to adapt & refocus my efforts. Optimizing time and resources is key. This list was right on time. I have to be able to give myself an honest evaluation, and be disciplined enough to implement the change. This was perfect, thanks so much for taking the time to share this information. Peace and Blessings.

  31. Ron says:

    Your points really hit home for me. Thanks for the great article.

  32. mark213 says:

    priceless tips! Don’t work for less than you can afford to wise tip

  33. Emanuel "Mr. Genie" Thorpe says:

    Great article I can really relate to the principles. I had to make a lot of changes in my life to start doing what I am doing now.
    Make It Happen
    Emanuel “Mr.Genie” Thorpe

  34. Jay Maharjan says:

    This is one of the best articles written keeping entrepreneurs in mind. Suggestions are simple but pragmatic. It always pays to work smarter!

  35. Watkins says:

    Great article, there are many useful tips.

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  37. Don says:

    Hey i did enjoy the post it was very nice thanks for the info.

  38. gorih says:

    You also need to have great motivation and desire to achieve something

  39. shedy says:

    This is the key to succeed in business as an entrepreneur to “Don’t enter a business or a venture that you know nothing about” it is awesome.What a great article! Please permit to publish this great article on my site.

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    I also found this great entrepreneuring tips:


  41. Ekene Ilochonwu says:

    Nice and helpful. Highly informative and very applicable.

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  45. Linda says:

    I have done and thought all of these tips..It is a great set of tips worthy of sharing.

    It is hard to work from home and not feel isolated. Having a great support team is very important.

    There are others like you out there. Look and you shall find..

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