13 Tips For Entrepreneurs To Start A New Business & Avoid Business Failure

By: Andrew M. Warner

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Use And Do To Have Use And Do To Have Success In BusinessSuccess In Business

Good luck in your success!!!

Dear Reader,

My name is Andrew M. Warner, founder and CEO of www.shadeofinfo.com. Throughout the majority of my adult life, I've looked for profitable and legitimate ways to make money.

Some has been successful and some have been failures. To be honest with you, I've had more failures than successes, but that didn't derail my ambition and passion. I knew a lot of people who were in the same boat that I was in. Constantly looking for ways to make money.

The only thing any of us could find were two paragraph descriptions of “home businesses.” No explanation. No instructions. No chance of success. This prompted me to start my own research on the different ways a person could make money. For the past four years, I've been doing just that. Researching, making notes and writing detailed step-by-step instructions detailing my findings.

It is my mission to provide thorough information to assist those who truly wish they could make residual income from a real home business. Hopefully, you will find the information I've provided as valuable as I've intended to make it.

http://www.shadeofinfo.com/

Of course not!!!

If you go into a business that is not a great fit for you, is that common sense?

If you go into a business without any preparation whatsoever, is that common sense?

If you go into business without any preparation in the thing you will deal in, or make no effort to hire, study or acquire some experience, is that common sense?

If you go into business without enough money (or credit) for the absolute essentials of operating that business, is that common sense?

Andrew M. Warner Founder & CEO: http://www.shadeofinfo.com

Yet 98% of people do all of those things to abort their business before it even begins.

And that’s what prompted me to write this today. To list some detailed, practical points in an attempt to save any entrepreneurs fate from failure.

The information detailed in this post, is for simple, ordinary small businesses. These are a list of "13 Crucial Tips That All Successful Entrepreneurs Know And That You Need To Use And Do To Have Success In Business."

1. Start off your business in your own home, if at all possible.

Plenty of entrepreneurs have started off their business in a basement, attic, bedroom, kitchen table, etc. because that’s all that was needed. Only when they were doing their business for a while (a few months to years), seeing profits, and experiencing business growth, was when they decided to expand their work space.

There’s no reason for you not to do the same. I currently work in a home office, but when I started off, I was working in a section of my bedroom in my mother's house. The "work space" I had was less than 3 feet but I made sure that it worked the best for me.

There’s absolutely NO need, when starting out, to go all out and spend unnecessary money when it is not needed. No reason.


2. Don't have a show-off attitude, or brag about money.

For the life of me, I can't understand why some people feel that because they’re pursuing an entrepreneurial path, they’re better than those who are not. Nobody likes a person who shows off.

Yes, being an entrepreneur is something to be proud of, however, don’t “rub it” in the faces of those that are not.

That type of attitude is something that you should NOT have in business.

For the most part, may people don't want to hear that. Just because you’re achieving success in business and you're an entrepreneur, doesn’t mean you can brag about money you’re making – or what you’re telling people you’re making.


3. Promote yourself EVERY TIME you step out of the door … or online.

Promotion is SO important to any business and to achieve success in business. There are hundreds of ways to attempt to promote yourself out there that you could easily use. And you should try all of them because all of them should be tried at least once before you decide against it. You never know what will actually work.


4. Immediate profits won’t happen so don’t expect it.

Do you know what the saddest thing in the world is? It's those that are constantly chasing after the all mighty dollar.

Those people are the same ones that believe the very day they start their business, they’ll be making money out of their behind like nothing. Sorry, it RARELY works that way. And if you DO believe it can work that way for you, are you trying to get rich quickly or get rich easily?

Understand that business is like chess not checkers. Expecting immediate profits almost immediately after you start is something that probably won't happen. The reality is it’s near IMPOSSIBLE to make a profit almost immediately.

If you’re just starting out, don’t get your hopes up. Because the chances of it happening for you is VERY slim.


5. Keep records of EVERY SINGLE transaction.

The “taxman” is not someone to play around with. Especially if you’re planning on running a business.

And double especially if your business is making money.

Many would be entrepreneurs believe that if they make a little money here and a little money there, they can spend it and not have to keep tabs on it for tax purposes. Sorry, doesn’t work that way.

Doing business like that will not only get you in trouble, but possible also mean that you’ll have to pay back more than what you originally made.

Avoid that whole mess in the first place and keep detailed records.


6. Subscribe to any, and every, publication related to your business.

Every entrepreneur should be receiving some type of publication related to their particular business. Or at least subscribed to blogs of other entrepreneurs in your niche. And you need to do this for many reasons:

(1) To see what your “competition” has to offer.

(2) To monitor and analyze what they’re doing right.

(3) To get updated on information in your business … etc.

Anyone that's in your specific field you WANT to know what they're doing because you WANT to be able to do similar things ... but better. If you want success in business, this is something that you NEED to do if you’re not already doing it.


7. Start with, at least, a little bit of money saved.

It's a fact that many people who go in to business, or want to go into business, don’t necessarily have the money to spend right away. Not a problem.

In fact, there are A LOT of businesses that a person could start with no money or very little money.

However, if you want to have success in business, try to save a little bit of money to take care of your necessary expenses before you actually get into business.

Now there's nothing wrong with spending your money on things that you want. That's the reason you got into businessin the first place probably. But if you plan on growing your business, you NEED to be open about spending money on your business.



8. Don’t produce “cheap” products or sell information that is of poor content and quality.

Any entrepreneur that wants to be successful should understand the importance of value.

Providing value in whatever you’re attempting to sell or whatever service you’re going to provide is of the utmost importance. If you do choose to sell products that are cheap, you put yourself at risk of having high returns and gaining a bad reputation.

If you sell information that is of poor content, you’re goal to gain customers immediately goes out the door. Whether you know it or not, your mail goal as an entrepreneur is to get repeat customers.

9. Keep in constant touch with your customers.

You need to keep in touch with your customers. Even if theyhaven’t bought from you in a while, that line of communication is key to your business.

Send an email, mail something in the mail, call them up out of the blue and offer to answer any questions about the product … or if you can be of any further assistance. That little bit goes a long way.

Make more contact with your customers, if you’re not doing it, but don’t overwhelm them as if they were being spammed.


10. Don’t charge insane amounts for your product or services if your target customers can’t possibly afford it.

For the life of me, I can’t understand this one.

If you have a product that you create that costs you $5 … and then turn around and try to sell that same product for $500, how can you consistently make money. Don’t get me wrong, I have no problems with selling higher priced items, however, you need to know your audience.

Entrepreneurs that try and sell products for $997 and has a customer list of people looking to start a home business, probably won’t get a lot of sales for their business. Understand the market you’re in and price yourself accordingly.


11. Don't fear competition.

If there is a lot of competition in a particular market, that only means that it’s a hot market that’s hungry for products or information. Focus on making your business the best you can make it. Competition will always be there but never fear it. I, obviously, have A LOT of competition in the field that I’m in. However, maybe around 85% of the material that my competition puts out, is well below par.

But the thing about it is, I DON'T view anybody else in my niche as competition. I view everybody as colleagues striving for the same goal. And that's to make money doing something that you love to do.


12. Don't try to do everything yourself.

This is something that I started to do less of over the last few months. I realize that as my business grows, so does the responsibilities that I have and certain tasks that need to be done. And while this happens, the amount of hours in the day remains the same.

As an entrepreneur, you CAN'T do everything on your own. You shouldn't have to.

As your business increases, so will your work. Meaning that certain jobs that you did before, you won’t have the same amount of time to do accurately.


13. Study other businesses

You know, many entrepreneurs have too much prideto admit if another business has done something creative … interesting … great. But I'll give credit where credit is due and usually send a message to thatpersons blog or website on top of that.

It's super important to study other businesses becauseyou may gain a competitive advantage and get some useful ideas for your own business.

You don’t have to spend A LOT of time, but at least spend some time throughout the week studying what other businesses in your niche are doing right and doing wrong. You'll benefit tremendously from it.


Created By Andrew M. Warner of www.shadeofinfo.com

13 Crucial Tips That All Successful Entrepreneurs Know And That You Need To Use And Do To Have Success In Business

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more resources with the Small Business Toolbox.

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