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7 Tips for Building a Successful Business

by Taylor Stewart on Wednesday, November 6th, 2013

Beginning a start up business can be extremely rewarding and also very challenging.  If you are willing to keep an open mind and constantly learn new ideas and strategies, you will learn more than those who just stumble along.

You can pick up any article praising the lifestyle of working for yourself.   The Internet alone has articles praising the lifestyle of yachts and fast cars, never acknowledging the hard work that must be put into it. Yes, once you get on the right track, you will gain a great amount of independence and added quality of life.   Just keep in mind in order to get to that level, there must be a great deal of work needed on your part.

Here are several  tried and true facts that you should take heed to and learn from if you want to be a successful entrepreneur:

1. Embrace Your Goals

You must have a passion for the business you want to succeed in, all successful entrepreneurs know this and embrace this concept.  If you have the passion, you will find the commitment to make it happen.  Search around and find organizations and groups to get involved with that share your interests.  You must have a genuine desire if you want to succeed.

2. Acknowledge and Accept the Work Ahead

Acknowledge the long hours you must be committed to and accept the fact there are no easy ways around it.  Working twelve hours or more a day, including weekends, is the life you will be living when beginning to form your business.

3. Set Your Expectations with Family

Not everyone is going to understand or appreciate the demands and commitments entailed in a start up business.  It’s important that family members understand the demands placed on you.  Don’t expect them to realize your workday is not going to end at 5:00 pm.  If you place your cards on the table and let them know when they can call you or reach out to you, it’ll be less frustrating for everyone.

4. Take the Drive to Become Successful

If your business comprises of other people, don’t expect to sit back and let everyone else figure it out.  If you need to understand how a system operates, don’t pass it on to someone else, do it yourself.  All businesses, starting off, need to setup guidelines and policies it won’t happen all at once but it will grow roots.  You will make mistakes, learn from them and don’t be afraid of the chaos surrounding the situation, embrace it and learn from it.

5. Practice Good Communication

With any new start up company, priorities and projects are not going to happen overnight.  Communicate with your team so everyone knows what’s going on and what is expected of each member.  Don’t assume everyone knows what the goal of the day is.  You must communicate because everyone on your team needs to be in the “Need To Know”circle.

6. Balance Your Day

Finding the right balance is not that difficult in this day and age of high technology.  Place your priorities in the correct order, then make time for those priorities.  Find out if the business can do without you on a specific day so you can work out of your home.  This is ideal for spending some quality time with your family.  Use mobile apps so you can stay in contact with your family on nights at the office.

7. Know When It’s Time To Take A Break

Again, All Work and No Play makes for a very stressed out life.  No one can work long grueling hours 24/7, know when to step away.  Find activities that help relieve your stress and make a habit of participating in them.  Whether canoeing is relaxing or going to a baseball game, go and enjoy yourself.  Stress is the number one killer in this country, you must take time to recharge your batteries and relieve that tension.

Knowing when to take a break will give you fresh perspectives and give you the energy to tackle that new project coming down the road.