Tips for entrepreneurs

When we were just installing a handful of real estate sign posts a few weeks back in Pickering, we got stopped by a young man (about 12) who began chatting with us.   He was very curious and it wasn't long before he was asking us on tips about being being an entrepreneur. Here's what we told him. 

 

1. Do what you love

Your passion for your product or service will keep you motivated and get you through the tough times. Our focus has been Durham real eatate post installation 

2. Stay focused

We live in a world full of distraction, and a world of people/ business fighting for our attention. Keep focused on your main goals, and set yourself benchmarks that you can hit in order to track your progress. Set both short, mid, and long term goals

3. Find a mentor

Mentors can be crucial for you to both start, grow, and exit your business.Having a mentor who has insights and information gained from their past experience as well as existing contacts in their back pocket, will help you shorten your learning curve significantly.Mentors have learned form experience and can help you compound your efforts faster, as well as save you countless dollars by preventing large mistakes

4. Know when to quit and focus elsewhere

To succeed most of us will need to fail. ( and fail). You shouldn't give up at each failure, but you should know when to cut ties with an idea, project, marketing plan, product, etc in order to prevent yourself from spending all your valuable ( and limited) resources on things that wont come to fruition. DO NOT let your ego get in the way

5. Get used to hearing no

1. Let “no” serve as a motivator. If you don’t get that new job, new customer, new product made, new idea pushed forward , if you lose work to another 15 year old, then vow to win / achieve your plan the next time. Make a plan for how to do it different, better than you did last time. Use the “No” you will constantly hear to fuel your drive to achieve a “yes”

2. Let “no” keep out the other people who don’t want it as bad as you do. Remember, when you’re hearing “no”, so is almost everyone else. When other people hear “no” too much, they quit, defeated, never to return again. Don’t let that be you.

Do not be afraid of rejection, failure, and hearing “no” ( no matter WHAT you pursue or go after, from dating to work to family and business dreams) 

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