Friday, October 9, 2015

8 Entrepreneurial Tips for Kids (& Adults)

  1. Never quit.
    Entrepreneurs face the highest of highs and the lowest of lows. One thing we learn fast is to never quit when things get tough. This is the time where growth happens—when we step and live outside of our comfort zones. These lessons teach us about leadership, entrepreneurship, and how to bring these skills and services to the real world. Entrepreneurs know how to hustle. Figuring out how to achieve your goals despite setbacks, doing something that might not be the traditional way, and persevering is what hustle is all about. 
  2. Cash is king.
    Cash is king. Cash is freedom. Having a war chest (instead of debt) allows for good and bad moves. This will give you freedom to navigate without restraint. 
  3. Exercise integrity.
    We all want to work with people who are honest and fair. Hard work is important. However, if you are dishonest, you might get that first sale, but the customer will not return. Maintain your moral code, especially when money is involved, and you will create a customer for life. Honesty is ALWAYS the best policy. 
  4. Negotiation skills can help you save money.
    Learn to negotiate. Understanding when and how to push will help save a startup lots of money. 
  5. You can't be all things to all people.
    In our quest to acquire a new customer or expand operations, it is easy to overlook our current customers and forget how we became successful in the first place. Stay focused on what you do best.
  6. You can do a lot more than you think you can.
    You really can do almost anything if you put your mind and passion to it. Don’t settle for the status quo or be content with what already exists. Society only improves if entrepreneurs explore new paths and new ways of doing things. Being an innovator is about fighting complacency and never being satisfied with the “good enough” answers of today.
  7. It’s important to make personal connections.
    Everyone you meet can bring something interesting to the table either at the moment or down the road, so making and maintaining a network of connections is very important. 
  8. Pursue a work-life balance.
    Demonstrate a healthy work-life balanced attitude toward business. Be a present role model to inspire, rally, and build-up those around you.

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