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

More useful articles on entrepreneurship:

Tips for budding entrepreneurs

11 Principles of Entrepreneurial Leadership

Top 7 Hiring Mistakes for Startup Businesses

Top 10 Most Practical Blogs for Entrepreneurs

10 tips for entrepreneurs seeking angel capital

15 entrepreneur blogs worth reading

10 critical steps to writing a business plan

10 cool colleges for entrepreneurs

Selling a business: Top 10 tips for entrepreneurs

Top 10 reasons for buying a franchise

Start Slide Show with PicLens Lite PicLens

Tags: , , , , , , , , , , , , , , , ,

32 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:

    [...] 25 tips by entrepreneurs for entrepreneurs | 4 entrepreneur (tags: entrepreneurship tips) [...]

  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!

  6. Whilst out Stumbling! | Best Business Blog says:

    [...] whilst spending some time today clicking the button I came across this post and can so relate to most of the tips on the list, so do go read and [...]

  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…

  11. A baker’s dozen great freelancer’s resources | Underpants Office says:

    [...] 13.  25 tips by entrepreneurs for entrepreneurs [...]

  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.

  21. Twitted by costamike says:

    [...] This post was Twitted by costamike [...]

  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.

  24. Highly RecommendedENTREPRENEUR? « says:

    [...] tough to become ad stay an entrepreneur but this site gives very helpful tips and strategies. CLICK HERE if you’re thinking or wondering about becoming n [...]

  25. Jumpstart Your Business » Bookmarks for January 17th, 2009 says:

    [...] 25 tips by entrepreneurs for entrepreneurs – A worthwhile list of tips for the budding entrepreneur. [...]

  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!

  28. Motivation | the Bess Impression - Gift Baskets Oahu Hawaii says:

    [...] http://4entrepreneur.net/?p=615 [...]

  29. Thierry Andriamirado says:

    + 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

Leave a Reply

  • Search

  • RSS Entrepreneur.com: Latest Articles

    • Richard Branson: Nice Guys Can Finish First
    • The Complete Inventor's Guide
    • How Gaming's Upstarts Stay Ahead in a Changing Market
    • The Web-Based Scheduling Tool That's One Step Ahead of You
    • A High-Tech Velvet Rope for High Fashion
    • How to Limit Litigation Risks During Layoffs
    • What You Need to Know About the Small-Business Bill
    • Richard Branson: Five Secrets to Business Success
    • Best Small-Business Workplaces 2010
    • How Risky is That Franchise?
  • RSS Forbes Entrepreneurs

    • Barcoding Briefs
    • How To Find And Vet Temporary Tech Talent
    • Six Technologies To Cure Bad Driving
    • Project Management Software That Brings Order To Chaos
    • Small Business Tech Toolkit 2010: Part II
    • Cheap E-Training For Startups
    • Google's Great Lesson
    • Eleven Movies Entrepreneurs Should Watch
    • Social Media Has Scorching Impact On Small Biz
    • How To Make E-Mail Marketing Campaigns Sing
    • Beating Big Auction Houses At Their Own Game
    • Ten Eco-Business Subsidies You Should Know About
    • Will These Guys Kill The Next Google?
    • Wal-Mart Gives Banks A Run For Their Money
    • The Accidental Jeweler
    • Get Paid Now
    • Pete Carroll On Turning Around An Organization--And Yourself
    • A Better Way To Manage All That Virtual Paperwork
    • What It Takes To Run A Sound Commercial Bank
    • Are Your Best Customers Draining You Dry?
  • RSS Law & Taxation

    • Ten Eco-Business Subsidies You Should Know About
    • Twelve Nasty Work-From-Home Scams
    • When Is Litigation Worth The Hassle?
    • What Small Biz Should Know About Health Care Reform
    • Small-Business Owners: Prepare For A Tax Hike
    • Seven Ways Financial Reform Will Haunt Small Biz
    • The Dumbest Financial Laws Of All Time
    • States That Truly Bet On Small Business
    • How Governments Should Spur Entrepreneurship
    • They Call This A Stimulus For Small Biz? Pshaw!
    • A Funding Fix For New Businesses
  • RSS Politics

    • Rabbi Arthur Waskow: Isaiah and Subersive Prayer: Thoughts for Yom Kippur
    • Rev. Jesse Jackson: An Open Letter to Our Nation's Leaders
    • Darrell West: Europeans Still Love Obama
    • Lost Decade For American Income
    • Aaron E. Carroll: What a Difference a Year Makes
    • Simon Johnson: Elizabeth Warren: The Right Appointment at the Right Time
    • Senate Battlegrounds See New Round Of Negative Ads
    • Republicans Try To Bring Tea Party Enthusiasm Into The Fold
    • Jimmy Carter: Ted Kennedy Cost America National Health Insurance Decades Ago
    • Mark Shriver: America's Kids: Bearing the Brunt of the Recession
    • Paul Rieckhoff: Vets are close to a Touchdown, and We Need You to Make Some Noise
    • U.S. Officials: Alleged North Korea Attack Was An 'Act Of War'
    • Robert Reich: Why Getting Tough With China Won't Solve Our Jobs Problem
    • Jim Garrison: Clinton the "Perfect Republican" with Obama Soon to Follow?
    • Howie Klein: Boehnerland
  • RSS Entertainment

    • Mike Ragogna: Government & Go-Go: Conversations with Stone Sour and Slipknot's Corey Taylor, and Chuck Brown
    • Zorianna Kit: Catfish review: a cautionary tale worth watching
    • Anne Hathaway & Jake Gyllenhaal Nude On 'Love & Other Drugs' Poster (PHOTO)
    • Axel W. Caballero: Love Music and Politics? Here Is a Gift for You
    • S.X. Rosenstock: The Tallest Man on Earth: New Folk Grows Numinous
    • Ed Martin: "As the World Turns" Cancellation Marks the End of an Era
    • Kim Kardashian Continues Her Promotional Tour Of Europe (PHOTOS)
    • David Shasha: Killing Off a Simple Jewish Soul in 'A Serious Man'
    • Julia Roberts & Javier Bardem In Italy (PHOTOS)
    • Freida Pinto Shows Lots Of Leg In GQ (PHOTOS)
    • Jessica Simpson Spends Her Boyfriend's Birthday At Macy's (PHOTOS)
    • Susan Boyle Sings For The Pope
    • Tiffani Thiessen Laments Last 20 Pounds Of Baby Weight (PHOTOS)
    • Candice Bergen To 'House'
    • Casey Affleck: Joaquin Phoenix Documentary 'I'm Still Here' Was Fake
  • RSS Green on HuffingtonPost.com

    • Whistleblower Group Sues To Find Out Why Administration Lowballed BP Oil Spill Estimates
    • Crabs Need Crossing Guards To Migrate To Spawning Grounds In Taiwan
    • Apple iMac Computers Recycled Into Aquariums, Mailboxes, Beer Taps And More
    • Kumi Naidoo: The So Coal Network: Confronting Facebook's Coal Problem (Video)
    • Gwen Ruta: How Did They Do That? Students Find $350 Million in Savings Over the Summer
    • Bruce Nilles: Threat Remains Despite VA Coal Plant Delay
    • Hurricane Karl 2010 Forms, Threatens Mexico Coast
    • Automotive X Prize Winners REVEALED -- See Which Cars Took Home Multi-Million Dollar Prizes
    • Ed Chen: Cap and Trade Wasn't Castle's Undoing
    • Rena Steinzor: A Year of Regulatory Disasters
Home :: Our Story :: Forum :: Expert Columns :: Green 101 :: Entrepreneurship 101 :: Subscribe Newsletter :: Contact :: Rss

Copyright © 4Entrepreneur.net