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Business Tip: Don’t do something that you won’t enjoy. You know what you love; find a way for it to make you money, or you’re setting yourself up for failure.
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Business Tip: Don’t be afraid of change. Your market might change over time, and you will need to adapt your business focus to keep up.
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Business Tip: A good idea is not enough. Businesses aren’t just about ideas – businesses are about execution. Once you have an idea, work on the execution.
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Business Tip: Identify a problem to solve within the market you’re interested in. This will lead you to what you business should focus on.
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Business Tip: Know how to take criticism. Take as much feedback from as many people as you can, as this will help you in the long run.
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Business Tip: Don’t take on offices or business premises until you can afford to, and absolutely have to. Rent is very expensive.
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Business Tip: Be true to yourself. If you follow that principle, a lot of decisions will be easier to make.
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Business Tip: Something worth doing might take a while, so really flesh out the potential of the business and be honest about whether it’s worth doing.
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Business Tip: Act like a start-up. Watch every coin and triple-check every expense. Keep your costs low and manage your cash flow effectively.
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Business Tip: To be successful in business, you need to be organised. Create a to-do list each day. As you complete each item, tick it off your list.