Entrepreneurship is a dangerous game which requires training and skill. Without these things, it can result in a failure and you can end up with financial losses and be completely drained mentally and physically. You need to be fully prepared and committed when you start your new venture because that is what decides how fruitful and successful it will be. Luck is also a factor but then, that is not in your hands.
Amazon FBA Coach and owner of 7 figure Amazon company, Nhut Cao mentors 5 tips for new entrepreneurs. These tips will help them avoid costly mistakes and establish a more structured business.
Learn to let go of the rocks
All that weighs you down in your journey to achieve your dream are termed as rocks by Nhut Cao. everything that is a hindrance to you in following your passion such as your responsibilities, a toxic relationship, bills, payments etc. all these are constantly demanding your time and effort and consuming you. Nhut advises you to write them all down on a paper and evaluate which of the rocks are essentials and which of the rocks can be left behind for you to focus on yourself.
Live below your means
Nhut advises all aspiring entrepreneurs to live below their means and spend thoughtfully. It will help them save up for the business and what is better than your own savings for your own business? It is probably one of the most liberating feelings. Delay gratification today, and prosper tomorrow.
Reduce your work hours
You cannot be in two different places at one time. Working excessively at your job can weigh you down and leave less time for your business. Work enough to support your basic lifestyle and spend the rest of the time setting up your business.
Get a mentor
Mentor can save a lot of your time and efforts. Nhut Cao encourages all those aspiring to start up their business, to get a mentor and learn entrepreneurship from a professional. Many at times, young entrepreneurs think they know their work and avoid taking help, leading to failed businesses. Nhut believes getting coaching can save you from a lot of trouble and investing in yourself is the best thing you can do for your business.