Valuable advice for entrepreneurs

Valuable advice for entrepreneurs

Serial entrepreneur, Matthew Toren, provides the following tips specifically for people who are in the business of setting up a business:

“Being an entrepreneur does not come with a manual and there is no fixed route that entrepreneurs take to be successful, there are no quick paths or short cuts either. An entrepreneur should organise, manage, and assume the risks of a business or enterprise.”

1. Keep the big vision in sight

When things go wrong or become difficult, keep the vision for your business at the forefront of your planning

2. Fuel your vision with perseverance

The big vision must go hand in hand with perseverance; you will need to keep pushing forward.

3. Plan B

Never be afraid to change tactics to achieve your goals. Define what success means to you, thereafter break down the journey to standards of measurement that will help you achieve success. Your plan should hold you accountable for specifics and your achievements should be measurable.

4. Embrace your expertise

If you are good at something, make that your area of expertise and specialise in it. Do not try to be all things in all aspects of your business.

5. Know who to surround yourself with

Your staff, mentors, associates and clients are all crucial to your success. Surround yourself with the right people aligned to your big vision.

Matthew Toren is a serial entrepreneur, mentor, investor and co-founder of YoungEntrepreneur.com. He is co-author, with his brother Adam, of Kidpreneurs and Small Business, BIG Vision: Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right.