Five Childhood Lessons Entrepreneurs Should Re-Learn
LESSON 1 – LEARN HOW TO COUNT
Entrepreneurs, this is number one for a reason. Whether you’re applying for a loan, pitching a team of investors or simply working to grow your business, it’s critical that you understand and know how much cash it takes to run your business. Basically, it’s imperative to know how much money is coming in and how much is going out. If you don’t pay attention to the bottom line, who will?
LESSON 2 – DO YOUR HOMEWORK
Be an excellent marketer and know your business inside and out. Always be prepared to 1) tell your story and 2) sell your business and its products and services whenever, however and to whoever you can.
Also,it’s necessary to capitalize on online engagement. Extend your online reach by interacting and communicating relevant information about your business in all the key social media outlets. Make sure your website is up to date, user-friendly, relevant, and informative.
LESSON 3 – BE NICE
Be personable & humble. Always be thankful for the fact that you own your own business, not everyone is cut out for it! Remember to smile and have an amazing, WIN-WIN personality, even when you didn’t have the best business day or week – you never know who you are going to run into. No one wants to work with or for someone that’s not nice or pleasant, even on the worst of days.
LESSON 4 – BE ON TIME
Timing is key. If you have a meeting, project deadline or a deliverable, be on time. Reliability and trust are key attributes of an entrepreneur.
There is also such a thing as a bad time to ask for investment money or a loan. You might have great ideas, but it could be too early in your business to be on the hunt for a large amount of cash. Wait. Get your sales and revenue up, start showing a profit and then ask.
LESSON 5 – EVERYONE IS NOT YOUR FRIEND
Be prepared to walk. Some business opportunities and partnerships are not meant to happen. Know what you want and have limitations to what you will and will not to do in your business and life.
What other childhood lessons would you add?