The fate of a small business depends on the foundation it was built upon. The most important factor during the start up phase is the owner; for he lays his vision as the foundation, and his values serve as the cement that binds the corporate culture. However, having good vision and values do not ensure the success of a venture. Both are only concepts and will remain as concepts unless it is being acted upon.
You do not need to have a degree to be successful, but a base amount of knowledge will get your business running. For start up entrepreneurs, what you need to know is basic accounting; like how much is needed to start a business, your costs, your profits and the impact of your expenses in the business. And of course a little knowledge in marketing will help; like who you want to sell your products to, the features they want and the value they are looking for in a product.
There are two important skills you need to possess. The first one is people skills. This is your ability to deal with all sorts of people from different classes. If you look at great people, great businessmen, and legit politicians, these people have very good charisma. They are liked and trusted by the people around them. If they can do it so can you. One technique is to be interested in the people you meet, you can do this by sincerely getting to know them. You can ask questions about them, what they do, why they do it, etc. But remember to do it in a manner that is not suspicious.
The second skill you need is related to the first one. Self awareness skills. This pertains to an understanding of oneself, how you carry yourself in front of others and how you choose the right words to say. This is not about manipulation but more of respect towards other people. To be able to become self aware, have a simple inventory of your strengths and weaknesses, what makes you happy and what makes you react negatively. However, work does not end in knowing your weaknesses, you have to strive hard to improve them.
A Start up can be frustrating for an entrepreneur because it is full of challenges. There is one attitude you must always carry to combat the hurdles. You must always have the optimistic mind set. Being optimistic is about keeping a positive outlook towards life even if you are bombarded by a string of loses. To be optimistic you always have to remember 2 things. One is to learn to count your blessings. This means you need to have the attitude of gratitude. Give thanks for the little things you have and even for the challenges that come your way, because these challenges bring about changes and improvement to your business. While the other one is to know that adverse situations are temporary. It may last for a while but you should keep your focus on the rewards and not on the pain. What is important is that you proactively look for solutions, because those who seek will eventually find the answer.
Big Businesses like Mary Grace cafe, Mang Insal and Sulit.com have one thing in common. They all started small. In fact, Mary Grace and Sulit were initially home based businesses. Start up may be one of the hardest stages in the business venture because there are many hurdles the owner will have to face. But with the right knowledge, skills and attitude the owner will be able to manage the start up’s bumpy road.