Look for mentors. The beginning of any venture can be exhilarating, frustrating, liberating and terrifying all at once. Remember, although younger generations can be more tech-savvy than those who have been in business for years, there are still basic principles that are refined by experience. Many communities offer networking opportunities for entrepreneurs young and old. Take advantage of this, and you may be surprised at the wealth of knowledge your colleagues have to offe
No one will give you money. There, I said it. No one will invest in you. If you need large sums of capital to launch your venture, go back to the drawing board. Find a starting point instead of an end point. Scale down pricey plans and grandiose expenditures. Simplify the idea until it's manageable as an early stage venture. Find ways to prove your business model on a shoestring budget. Demonstrate your worth before seeking investment. If your concept is successful, your chan
Every presenter that stands up in front of an audience wants to be understood. But when your audience is equipped to learn best in distinctly different ways, how do you make sure that you get your message across to everyone in the room? The consequences of these learning styles reach far beyond the classroom. If you want to educate a large group of people, no matter what the setting, you need to know how to engage each of the four learning styles.Luckily, there are a few simp
Don’t forget PR. Traditional and online press relations can yield coverage that has longer shelf life and costs less than advertising. Think about what makes your product new, interesting, and relevant. Then, talk to the media about it. You might get great reviews, mentions on blogs, or even appear on news segments. Many media outlets have sections dedicated to people in the community doing outstanding things. Even an article in your campus newspaper can be a valuable source
Learn under fire. No business book or business plan can predict the future or fully prepare you to become a successful entrepreneur. There is no such thing as the perfect plan. There is no perfect road or one less traveled. Never jump right into a new business without any thought or planning, but don't spend months or years waiting to execute. You will become a well-rounded entrepreneur when tested under fire. The most important thing you can do is learn from your mistakes--a
Fear. Is fear stopping you from getting a better job, having a good relationship? Has fear stopped you from doing and having any number of things that would make your life happier? We’ll do everything in our power to avoid this fear of “what if.” But, when we refuse to face these fears, they’ll continue to hold a great power over us. Overcoming fear is all about replacing and overpowering it with something else. For instance if you want to start your business, but are paralyz
Utilize, but don’t over-use, social media. Young people are always eager to jump online, and that’s not a bad thing. But it is important to think carefully before plastering marketing materials on the Internet. Social media is obviously a powerful tool. Focusing it on your business can get word out quickly and cheaply. That said, be careful not to put all of your eggs in the online basket. Experiment and measure results, then constantly evaluate and decide what is working, an
Act like a startup. Forget about fancy offices, fast cars and fat expense accounts. Your wallet is your company's life-blood. Practice and perfect the art of being frugal. Watch every dollar and triple-check every expense. Maintain a low overhead and manage your cash flow effectively.
Lack of gratitude. It’s common for us to become fixated on what we don’t have. We don't slow down to take stock of what we do have. Pause and appreciate everything that you’re thankful for. I do this by writing what I’m grateful for every evening. But, don’t just take my word for it. It’s a powerful trick that has also been employed by Oprah, Tony Robbins and Tim Ferriss. Countless studies have found that giving thanks makes us happier and managers who say "thank you" to thei
Be honest. This advice applies to yourself, your employees and your customers. Be honest about what you can commit to your business. It doesn’t do any good to over-extend yourself when in truth; you don’t have the cash or the hours to commit to a project. Be honest about what your partners can expect from, and what you expect in return. And be honest with clients.