Is business for everyone? There are so many business ideas, that one can take a look at, but before that, from an Entrepreneur’s perspective, can you really run a business? If you are starting out to have your own business – then you have a mammoth task ahead of you. You have to fit the profile of an entrepreneur. Remember, running a business comes with all kinds of stress and pressure; you have to be in an entrepreneurial state, to be able to handle all the pressure that comes with it.
Important Factors of an entrepreneur
Starting a new business
I believe in making research before starting a business – you need to know and understand your product and services. Your target market, location, prices, etc. There are so many things that can go wrong that you need to be prepared for as an entrepreneur.
The world can supply you with all the tools you need to prepare you, but sometimes you need to be prepared mentally and not just physically.
You will need a new customer and supplier base, and it’s supposed to be the fun part, but trust me, it can drag you and slow you down.
All characteristics of an entrepreneur we discussed above need to be in motion when things get bad. New, inexperienced staff can make you feel your business is inadequate (But it’s not, it’s a start and might take a while before we all dance to the same business tune and they have to be paid, Don’t let that derail you in any way).
Buying an existing business/Franchise
Starting a business is very important when you have future goals and when you want to live a legacy behind for your family. Many businesses in South Africa and across the world fail, mostly because we lack patience, and there isn’t a way to instill patience in someone’s heart, it has to come from you.
All thanks to Sanlam with most of the information, they offer financial advice – they promise that a financial planner can, and I believe will help you make the most of what you have. So, you can contact them today on 0860 100 539.
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