Three ways to enhance your odds of entrepreneurial success

Entrepreneurship is a very challenging yet rewarding experience. While there are millions of people who start businesses, most of those businesses close within the first five years. This happens because most people underestimate the commitment involved in creating a business that’s long lasting and successful. Consider these three tips if you’re just thinking about becoming an entrepreneur.

-1 Get a mentor.

Find someone that you can shadow. It’s wise to find someone that is in the field that you’re looking to go into. For example, if you’d like to go into the restaurant business, consider finding a mentor who is in the food industry. When you’re able to shadow someone and get a peek into his or her life, you’ll be able to get a better idea of whether or not the lifestyle is a good fit for you. It’s also good to get a mentor because there will be times when you have tons of questions. You want to be able to bounce those questions off of someone who has the right answers. Mentorship is excellent for personal growth as well. Check out this article on how to be a good mentee.

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-2 Create a strategic plan.

A strategic plan is good for many reasons. If you don’t have a plan, it’ll be easy to move through life without any direction. You don’t want to open a business without a business plan or draft. It’s okay if the blueprint changes, but the main goal should always be the same. Here’s a good article on planning that will help you develop your plan.

-3 Invest in your education.

If you don’t know, you’ll need to find out. This concept applies to everything in life and through all phases of life. You can’t expect someone to spoon feed you all of the information you need. Read books about entrepreneurship. Go to conferences and learn from guest speakers for hire. Go to networking events where you can meet different entrepreneurs and learn from them.

[amazon_link asins=’0787975885′ template=’ProductAd’ store=’succeedingi0d-20′ marketplace=’US’ link_id=’3a78437c-8135-11e8-a1bd-03a1152ce9ab’]Continuous learning is key to small business success.Take non-credit classes at a community college. Take courses online. When people can see that you put your money where your mouth is, it’s a lot easier for them to take you seriously. If you invest in your education and your business, it’s a lot easier for people to invest in you. You don’t even have to talk about how much you invest in yourself. Your results and development will speak louder than you can.

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