Business and finance tips by , providing authentic, timely and trusted information on business, finance and investment opportunities in Nigeria.

  • 10 Reasons Why You Shouldn’t Quit Your Job (Just Yet)

    While quitting your job can seem like an obvious choice when you’re not happy at work, it’s not always the best choice to make. There are several reasons why you should hold off on quitting your job if you’re thinking about leaving in the near future. To help you come up with a plan of action that best suits your situation, read the following list of reasons why you shouldn’t quit your job right now

    1) You Are Reliable

    One of your most important qualities is being reliable. If you’re always late, you’ll miss meetings and deadlines. Do not quit your job now because you want to ensure that you maintain a good reputation in your workplace and among co-workers. It is especially vital that you do not leave a job before giving two weeks notice or more. Doing so will show your employer that they can count on you to get work done on time and with high quality.
    Before you take another job, it’s a good idea to get a recommendation from your current employer. Getting a positive reference is one of the easiest ways to put your best foot forward when looking for work and can help convince new employers that you are someone they should hire.

    2) Stop Wasting Time

    If you’re job searching, then it can feel like every waking hour is about finding a new job. But you don’t have to spend every waking hour searching for a new position. It’s important to continue performing your current job well even if you hate it—as long as that performance continues to get results and doesn’t negatively impact your ability to find a new one. Don’t squander time when you could be using it productively.

    3) Your Employer Can Assist With Training

    If you’re looking to learn new skills to prepare for your next job, consider finding a mentor at your current employer. They can provide insight into what skills you should focus on and which ones you already have. This way, you’ll have a stronger sense of your marketability when it comes time to look for a new job.
    If you feel like your skills aren’t quite up to par, consider looking for a mentor at your employer. Having someone experienced to guide you can make it easier to learn and hone certain skills that may be valuable in future positions.

    4) Having Security Beats the Unknown

    When you have a stable, predictable income that allows you to pay your bills and support yourself, you have more control over your life. If you quit without having another job lined up, what will happen? Maybe it’s time to work on getting a raise before switching jobs. Maybe it’s time to cut expenses so you can live off one income while looking for a new job. With all of these options available, why wouldn’t you give yourself every advantage when making such an important decision?

    It’s hard to quit a job when you have savings in your bank account. This might seem counterintuitive, but money is your safety net, says Jessica Miller-Merrell, Ph.D., a clinical psychologist and cofounder of Growth Mindset Therapy . If you lose your job—for whatever reason—you don’t want to be left without an income. Don’t leave yourself financially vulnerable if you can help it.
    The more money you have saved up, Miller-Merrell says, the longer you can afford to be unemployed. She recommends saving at least three months of salary in an emergency fund to protect yourself against a major life disruption like losing your job or getting hurt and having to go on disability. But if you’re not there yet, it’s OK: It is absolutely understandable if you can’t [save three months], especially when unemployment rates are so high right now, she says.

    6) Going Part-Time Is a Good Thing

    Too many people consider taking a job part-time as a bad thing, because they want to get it out of their head that they need to be full-time in order to do their best work. This is simply not true, but there are still several good reasons why you shouldn’t leave your current job just yet. Here are ten reasons why you should stay put for now.

    7) It’s Not That Difficult To Get Another Job

    One of the biggest reasons people tell themselves that they should leave their job right now is because it’s so difficult to get another job. The difficulty factor is dependent on many things, including your industry, geographic location and type of work you do. But here’s something to consider: Since 2009, we’ve added 4 million jobs in America and unemployment has fallen from 10% to 7%. In other words, there are jobs out there–you just have to look for them in a different way.

    8) Quitting Isn’t Always The Right Move

    When you’re unhappy at work, it can seem like you have no choice but to quit. And who wants to put up with a job they hate? But before you go leaping ship, try to think through your decision carefully and consider other options. Here are 10 reasons why quitting might not be best for your career right now:…

    9) Sometimes It Just Takes Time To Figure Things Out

    It can take time to figure out what career is right for you. You may think it’s just not going to work out, but it’s worth giving yourself some time. There are often reasons that we’re struggling at our jobs, and if you give yourself some time, you’ll see that things will get better with your job. If they don’t, then maybe it’s time to look elsewhere. But don’t jump ship too quickly!

    10) Working For Somebody Else Has Its Advantages

    Like all things in life, there are benefits and drawbacks to working for someone else. Before you quit your job, here are 10 reasons why you shouldn’t leave just yet. If any of these sound familiar, it might be a good idea to stay put. These aren’t intended as excuses not to take action—just rationales for waiting a little longer before leaving your day job behind.
    1. Time is on your side – It might seem counterintuitive, but taking some time off to work on your business will actually make you a more marketable employee down the road. For example, let’s say you leave your job now to work full-time on your startup and in 6 months your business fails miserably. Not only are you unemployed, but potential employers see that failure as a strike against you—and they’re probably right to think that way.

  • How to Quit Your Job and Start a Successful Business

    When people think about what is stopping them from becoming an entrepreneur, fear of failure is one of the major ones. Many people fear taking the leap and quitting their jobs to work for themselves because they are afraid of not being successful. Actually, starting a successful business won’t be difficult if you prepare in advance. This guide will tell you how.

    Think About What You Want From Life

    Do you really want to quit your job? What do you believe in? Do you want more time for your family? More time for yourself? Or have you found a project that needs time outside of business hours? If you know why you’re quitting your job, you’ll know how much money you need to get by while pursuing your dream. When you know how much you need per month (or per year), it’ll be easier to determine how long it will take for your side hustle to bring in that amount of money. Doing this will keep you focused and remind you that, even if you don’t succeed, there’s no reason to get discouraged.

    Don’t Just Quit; Plan It Out

    Although it’s possible to leave your job at any time, this course of action can set you up for failure. This time, don’t be unprepared and know beforehand what your backup plan is. Make sure you also have something lined up before you leave. Remember, don’t quit your day job if you don’t have another source of income! The above is not intended to indicate that desk jobs should continue to be people’s 9-to-5 schedule.
    To keep you going and show people that you have the wherewithal to succeed, create a prototype before you give up your day job. With proof that you can actually do what you say, it will be easier for people to invest in your idea.
    A side hustle is something you can easily do in your spare time, but make sure it’s something you’re good at before doing it. For example, it might mean working on it after work, or doing freelance writing or consulting on slow days. Otherwise, you may end up burnt out and less productive than if you had just quit your full-time job.

    Don’t Leave Without A Safety Net

    Quitting your job can be an incredibly risky thing, especially if you’re not financially stable enough. I’m not telling you that you shouldn’t take risks—of course you should!—but when it comes to quitting your job to start a business, don’t quit before making sure your risk is worth it. Once things are looking good for your new business venture, feel free to let go of that comfort net. But until then, keep your day job. If possible, build up some savings so you have a few months of living expenses saved up just in case things don’t work out as planned.
    I know, I know—we’re supposed to be entrepreneurs here. And real-life entrepreneurs know no bounds when it comes to taking risks and experimenting with new business ventures. But before you jump in, make sure you have enough cash on hand for six months of living expenses. That way, if your new business idea doesn’t turn out like you planned, you can always go back to your day job without worrying about how you’ll pay rent.

    Set a Deadline and Then Stick To It

    There are two common ways of quitting your job: Set an explicit date when you’ll hand in your resignation, or set a predetermined amount of time—six months, for example—when you’ll work on launching your business. If you know exactly when you’re leaving, there’s no temptation to procrastinate with everyday tasks.
    You should also clearly communicate your resignation date to everyone involved—not just your boss, but your colleagues, employees, clients, and anyone else who will be affected by your departure. This is particularly important if you work in a highly collaborative environment where everyone depends on each other’s help. Set an explicit handover plan with an estimated timeframe so they know exactly when they can reach out to you with questions or problems.

    Tell People

    Tell your boss you’re leaving, tell your colleagues, tell everyone you can that it’s time for you to go out on your own. While it might seem scary at first, most people will support you. The more people who know about your plans, the easier it will be for other entrepreneurs to put in a good word for you when you get ready to launch your business.
    Of course, you’ll also need to be honest with yourself. If you’re staying in your job because of financial obligations, it may not be possible for you to start your own business immediately.
    If you plan on taking time off before launching your business, that’s also fine. It can take several months (or even years) of planning and hard work before you’re ready to start your own company. However, once you’ve made up your mind, don’t look back! You need to stay focused if you want your new business venture to succeed.
    Finally, be sure you’re confident in your decision. If you tell everyone about your plans but still haven’t decided whether or not to go out on your own, you could end up damaging your reputation. People will expect you to follow through on what you say—and they’ll judge if you don’t. Tell people once, and then stay true to your word!

    Look Into Alternative Sources Of Income

    Side hustles are an increasingly popular way for people to make money on their own terms. According to a 2017 report from Merrill Lynch, 42% of small business owners have considered starting an additional side hustle, while 40% of side-hustlers earn at least half of their income from these projects. If you’re thinking about making more money in your free time, consider starting your own business instead—it will pay off hugely later on. Not sure where to start? Check out our guide on how to create a profitable niche business.
    If you’re not interested in starting your own business, that’s fine too—there are still plenty of ways to make money from home. The benefit of working for yourself is you can determine exactly how much time you want to spend on your income project. You can also choose how much money you want to make—side hustles usually bring in less than full-time jobs, but there’s no limit!

  • The Top 10 Ways to Succeed as an Article Writer

    Writing articles, especially as a freelancer, can be an excellent way to make money online. If you know how to put together high-quality content, you can earn lots of recurring revenue through article writing alone, even if you don’t have any other online business ventures or websites set up yet. But there are some tips and tricks to get the most out of your article writing experience, which is why we’ve created this handy guide on how to succeed as an article writer. Our top 10 tips will help you grow your business and develop the skills needed to tackle bigger projects in the future!

    1) Consider your readers

    If you’re writing content for a particular site, make sure that you have a clear idea of who your audience is and what they want. If you can write in such a way that makes your target reader feel like they’re listening to their favorite uncle or sister, then it will be easier for them to follow your advice. Even if you don’t know who your readers are yet, consider how they might react to each sentence as you go along—and whether they would respond positively or negatively. If something feels awkward or unclear, revise it until it flows naturally.

    2) Learn how to research effectively

    The key to becoming a great writer is learning how to find quality information and turn it into something compelling. If you’re stumped for inspiration, or if you simply need some tips on where and how to look for information, read up on strategies for effective research. You’ll have no trouble finding good places online, but keep in mind that Google is not always your friend.

    3) Outline your articles

    When you’re just starting out, planning your articles is incredibly important. There are a lot of different factors that will affect how much traffic you get from your articles—the topic, keywords, writing style and more—so doing a little bit of pre-work to outline everything ahead of time can help make sure you have everything covered. Outlining your posts isn’t just for SEO purposes; it helps with continuity and storytelling by ensuring that each piece flows nicely into one another.

    4) Stay focused on your topic (and yourself!)

    It’s hard to stay objective when writing about yourself and your own beliefs, but don’t lose sight of your subject. Keep on topic and focused on yourself, even if you have a lot of good things to say about someone else. When in doubt, ask yourself: What is my point? What am I trying to prove? How does what I’m saying help my audience? Is it relevant? Are there any holes in my argument that need to be filled in or expanded upon? Always keep these questions in mind when writing so that you can make sure everything makes sense and flows well.

    5) Don’t forget about SEO!

    It’s hard work, but a step-by-step SEO strategy can be a critical aspect of any successful marketing campaign. If you’re hoping to maximize your return on investment (ROI), you should spend time researching how search engines like Google evaluate and rank your content in order to optimize your web pages for search engines. Doing so will give you a huge boost in traffic over time.

    6) Use headlines creatively

    When writing your articles, remember that you are going to use them in your marketing efforts. This means that you should use headlines creatively and make sure they show off what’s inside of them. If a reader is skimming through posts on Google News or in their Facebook feed, they may only give yours a few seconds before moving on if it doesn’t catch their attention immediately. Use bright colors and bold text if possible. You want your articles (and by extension, you) to stand out! Write SEO-friendly content: SEO stands for search engine optimization, which refers to all of those things you can do with your articles to get more people reading them. If someone types something into Google looking for information about your topic area, they will see your website at or near the top of their results page. The better optimized your site is for search engines, the more likely it will be that people will find you when they’re looking for answers to questions related to your industry niche.

    7) Set a schedule and stick with it

    Writing consistently is one of the most important—yet challenging—aspects of being a successful freelance writer. If you’re just starting out, it can be even more difficult to commit to writing every day (we all have those days when we just don’t feel like doing anything productive!). But setting aside time on a regular basis will help ensure that you meet your deadlines and turn in articles on time. Make sure to set realistic goals for yourself; if you know you’ll only write for 15 minutes a day, then stick with that amount of time instead of pushing yourself to write for longer periods each day. This way, you won’t get discouraged if you don’t reach your full word count goal at first.

    8) Don’t write when you don’t feel inspired

    The most important thing is to write when you’re feeling inspired, not when you feel like it. If you wait until you feel motivated, chances are that your inspiration will have passed and so will your muse. Wait for a flash of inspiration instead, and then give yourself permission to quit or take a break if it never comes.

    9) Don’t hold back when giving criticism

    As a writer, you can help others improve by giving them feedback. This may seem daunting at first, but it’s important that you don’t hold back when giving criticism if it is genuinely helpful. By leaving nothing unsaid and actively trying to help others improve their writing, people will appreciate your honesty—and more likely to accept your advice. People have a much harder time accepting criticism from someone who seems less than sincere in what they say or do. If you want to be taken seriously as a writer, be sure to give honest feedback whenever possible. It’ll go a long way!

    10) Read more!

    Before you start submitting your work for publication, it’s important that you read (and understand) magazine and newspaper guidelines. Not only will reading editorial guidelines help you get your foot in the door, but knowing what editors are looking for will help improve your writing. Read magazines regularly, pay attention to style guides, and take advantage of free online resources like Purdue University’s Online Writing Lab (OWL). If you want to make a career out of freelance writing, there is no substitute for experience—the more you write, the better writer you become.

  • 10 Proven Ways to Get Capital to Start Your Business

    Starting your own business requires an incredible amount of risk, but it also requires capital—in other words, cash. The good news is that you have several options for getting the money you need to launch your new business venture, whether you’re considering investing in yourself by launching a Kickstarter campaign or taking out a loan from the bank. Here are 10 proven ways to get capital to start your business and make your entrepreneurial dreams come true.

    1) Setting up a company

    If you want to start a company but don’t know where to begin, there are a lot of options out there. One of them is starting your own limited liability company (LLC). For many business owners, setting up an LLC makes a lot of sense—especially if you’re just getting started or have plans for expansion in place. And while it can seem overwhelming, setting up an LLC has gotten much easier over time with technology and simple forms. It’s also important to remember that your choice doesn’t limit what type of business you can run. You can still operate as a sole proprietor even if you set up an LLC, so long as all your assets remain under that name and not yours personally.

    2) Getting funds from friends and family

    Friends and family are often a great source of startup capital. It’s easier to ask for money from people you already know than it is to go out and ask complete strangers. Friends and family have a vested interest in your success, too, because they have skin in the game as well. The downside of borrowing money from friends or family is that you may feel obligated to pay them back quickly, which could end up shortchanging your business.

    3) Banks and other institutional funding sources

    Whether it’s a loan or investment, banks and other traditional financial institutions are always going to be one of your best bets for getting capital. That doesn’t mean they’re always right for you, though; research how long it takes them to fund businesses and whether they typically lend or invest (most work with both), as well as their approval requirements and interest rates. Then consider alternative funding sources such as crowdfunding websites, which have been growing in popularity over recent years. These sites allow entrepreneurs to reach out directly to potential investors online, giving business owners access to a larger pool of money than they might otherwise get through more traditional means.

    4) Crowdfunding websites

    The most popular crowdfunding website is Kickstarter, which hosts creative projects like music, film, and video games. However, there are also many sites for getting investors for a wide variety of endeavors—from building factories in Africa to finding real estate deals in New York City. Though these websites aren’t a quick way to raise money on their own, they are an effective way to build relationships with investors who can help you make your business happen.

    5) Angel investors

    Angel investors are individuals who make private equity investments in companies, either directly or through a fund. These angels have different profiles: some are wealthy individual businesspeople, and others are institutions that invest as part of a broader portfolio. However, all share one thing in common: they want to see a solid return on their investment. They’re looking for businesses with strong management teams and market potential—businesses they can help grow into successful operations with significant financial upside.
    Angels will typically provide capital infusions in exchange for equity in your business, so it’s critical that you build a strong pitch. This will include answering key questions about your business, such as how much money you need and what you plan to do with it. Be prepared for more than one discussion: angels have many companies vying for their funding attention, so it may take multiple meetings and presentations before they make a decision.

    6) Government grants

    There are government grants for all kinds of businesses, and you can qualify for them even if you don’t have perfect credit. The Small Business Administration and your state provide grants specifically designed for small businesses that need financial help. And there are grants out there meant specifically for women-owned companies.
    You don’t have to give up your dreams just because you don’t have enough capital on hand. When you start looking for government grants, it will feel like Christmas as you find so many possibilities for getting money for your business. Be sure that if you apply for and receive a grant, you comply with all reporting requirements and give them regular updates on how your business is doing.

    7) Equity crowdfunding

    This is one of the latest methods of getting your company funded, and it’s all about getting money from people who are willing to invest a small amount in return for an ownership share in your company. If you manage to get enough support from private investors, then you’ll have enough backing to fund your company’s projects with significantly less investment from venture capitalists or banks.

    8) Offering shares on an exchange

    Some companies on this exchange will sell their stocks directly to investors. If you’re starting a new business and need money, you should list it on an exchange, because of its liquidity. a liquid measure is the degree to which a company’s shares can be traded without the price of shares dipping, and the issue with getting listed on an exchange is that you often have to wait a long time and pay a hefty price. However, if you’re rich enough to absorb losses and make returns that surpass the standard by a long-shot, then maybe it’s worth it. According to a Harvard University study, stocks in highly liquid IPOs outperform their less liquid peers over a three-year period.

    9) Interest free loans, leases or lines of credit

    An interest-free loan, lease or line of credit can be a great way to start your business. The loan has no fixed repayment date and most come with flexible terms and low interest rates. But you will have pay back what you borrow, plus interest at a later date. This is where it’s helpful to get advice from a financial advisor on how much capital you will need for your business venture.

    10) Finding and creating investment opportunities

    There are many ways to find a potential investor, but some of these opportunities can easily be created by you. One of these is through business contests or competitions. Business plan competitions are a great way for new businesses to be discovered and make a positive impression on investors looking for promising companies. You can also try submitting your idea directly to angel investors, venture capitalists, and other key players in your industry who may be able to give you financial support.

  • 10 Ways to Trade Cryptocurrencies and Earn More Money

    Investing in cryptocurrencies has taken the world by storm in the last few years. It can be difficult to predict which coins will do well and which ones will fail, but there are ways to increase your investment and make more money with cryptocurrency trading. These 10 ways to trade cryptocurrencies are designed to help you grow your wealth while still allowing you to have fun with your trading strategies and investments.

    1) Making consistently good decisions

    If you want your business to grow, you’ll need a strong decision-making process in place. Don’t be afraid of making tough calls, but do involve others when possible. For example, solicit feedback from employees on difficult decisions. And create an opportunity for them to weigh in on major issues that affect everyone: company culture, benefits and perks, performance reviews, salaries—you name it.

    2) Constantly seeking out new sources of information

    It’s important to stay informed on a daily basis. Some say that you need 10 hours of sleep a night; I believe it’s 10 minutes of I read something cool today time. When I was studying for my undergraduate degree, I made it a point to read at least one academic paper per day. The internet is our modern library—let’s take advantage of it!
    Staying informed is key for success in cryptocurrency trading. There are a number of different resources available to help keep you up-to-date with what’s happening in the space. The cryptocurrency news websites listed above, as well as social media channels like Reddit and Twitter, will give you access to all of your favorite projects and their communities at a moment’s notice.

    3) Frequently reevaluating your trading strategy

    Before you even begin trading cryptocurrency, you should be thinking about how often you are going to reevaluate your strategy. Trading cryptocurrencies is not a 9-to-5 job, nor is it one that you can leave once in a while when work gets busy. Like stock markets, 24-hour markets on cryptocurrency exchanges never close so traders need to ensure they’re watching their positions at all times. So, what’s an acceptable timeframe for reviewing your trading strategy? We recommend weekly reviews. At least check in every week to see if there have been any major changes or developments that could affect your strategy. If nothing has changed then there’s no reason to make any changes either! But if something does change, then you may want to consider making some adjustments – after all, it’s better to be safe than sorry!

    4) Trading with a broker that has low fees

    One of the best ways to trade crypto for profit is through a low-cost broker. Traders can use platforms such as eToro and Plus500, both of which have extremely low fees, to get started trading cryptocurrencies safely and easily. While these platforms do not allow users to directly buy cryptocurrency with fiat currency, they offer a wide variety of trade types that help investors mitigate risk while maximizing their potential profits.
    eToro is a social trading platform that allows users to buy currencies such as BTC, ETH, LTC, and XRP on behalf of their customers. There are several ways you can use eToro’s platform, which is great for those who are not familiar with cryptocurrencies.

    5) Avoiding high-risk situations

    Many traders like to take on high-risk trades because they get a thrill out of it. There’s nothing wrong with that, but there is a big difference between having fun and being reckless. When we talk about risk management, we’re talking about avoiding unnecessary risks that could result in huge losses. One major rule of thumb when trading cryptocurrencies is not investing more than you can afford to lose—one bitcoin isn’t worth a million dollars, so don’t treat it like it is.
    Another way to mitigate risk is by investing only what you can afford to lose. Understand that cryptocurrencies are volatile, and your investment could suddenly be worth a lot less than it was when you purchased it. It’s also important not to invest more than you can afford because once your initial investment is made, there’s no getting it back.

    6) Learn from your mistakes. They are important

    The key to successful cryptocurrency trading is to learn from your mistakes. That doesn’t just mean that you have to pick yourself up after a loss—though, of course, it does include that. You also need to figure out what went wrong, so you can understand how high (or low) a price might go before you should exit your position. When do bear markets like 2014 happen? How do bull markets progress over time? What are some common reasons for crashes? If you know all these things, then when crypto prices start moving again, you’ll be able to make better decisions than if you had no idea why prices were rising or falling in the first place.

    7) Incorporate market news into your trading strategies

    Constantly checking market news is crucial for any successful trader, whether you’re on a short-term play or long-term strategy. There are tons of cryptocurrency news sources out there; some are quality, while others (like blogs) can be thin on facts but chock full of opinion. At times it can feel like too much information when you have your finger on so many pulse points, but a healthy amount of news monitoring is key to profitability in crypto.

    8) Think long term
    When you trade your money for digital currency, it’s important to think long term. Cryptocurrency is a volatile market: values can go up or down by hundreds or even thousands of dollars in a single day. While day trading is possible (and profitable) with bitcoin, cryptocurrency as a whole remains relatively immature—meaning that prices are still subject to wild swings.

    9) Don’t take things personally – they aren’t personal

    There are always two sides of every trade, and even if you didn’t do anything wrong, you may be on either side of a trade at any given time. So don’t let it bother you if someone is blaming you for something that isn’t your fault. It happens. They aren’t a bad person; they just have their own issues to deal with. You can’t control other people, so don’t waste your energy trying. If you find yourself in an emotionally charged situation where there seems to be no resolution in sight, step away from trading for a while and come back when things have cooled down.

    10) Maintain consistency in your routine

    The cryptocurrency market is very volatile, so it’s important that you maintain consistency in your routine when investing in it. The cryptocurrency market moves very quickly, making some days extremely profitable for traders but also highly risky. One of our most valuable tips for how to trade cryptocurrencies is to only invest when you have a routine or schedule that you can stick with even if there are fluctuations in price.

  • 10 Ways To Stop Wasting Money in Your Buisness

    Being your own boss can be incredibly liberating, but it’s also difficult to balance between running your business and handling your personal finances. As an entrepreneur, you have the benefit of being able to make your own hours and toil away at the office in whatever outfit makes you feel most productive, but this freedom also means that you have more control over where your business’ funds go. If you’re not careful about how you manage them, these funds can run out before you know it! Use these 10 tips to stop wasting money in your business today.

    1) Not using your strengths

    Talents and personality traits play a big role in how well we perform at work. Yet, when you’re miserable or stressed out, you’re less likely to use your strengths. You might still be doing good work, but it probably doesn’t feel that way. Is it time for a change? If so, think about what would make you happier and more productive. If you want to stay put, think about what adjustments can be made—like taking on different responsibilities or working with new people—to help bring out your best self. No matter what, it’s never too late to try something new: Even if you fail, there are lessons to be learned along the way. Don’t underestimate yourself! (And don’t forget to have fun.) After all, finding meaning and purpose in your work is one of life’s greatest joys.

    2) Spreading yourself too thin

    Being involved in too many projects can be distracting and make it harder for you to focus on any single one. Even worse, when you’re spread thin, you’re forced to react instead of proactively planning your business. This can lead to poor or inefficient choices that damage your company over time. It may be tempting, but try not to take on too much at once—you don’t want your business model crashing and burning before it even gets off the ground!

    3) Anxious mind, fearful mind

    What if I can’t make a profit? What if my company doesn’t succeed? What if I lose all my money? Running a business is stressful. There are many factors that you have absolutely no control over, and that alone can be enough to stress you out. How do you combat fear and worry in your business? By not letting fear paralyze you; by being brave; by accepting uncertainty; by breathing.

    4) Set your goals

    Sometimes, especially if you’re a first-time entrepreneur, you’ll want to give up too soon. When that happens, look back at your business plan and think about what your goals were for reaching those milestones—and get out there and work hard! It may be tough at first, but persistence is key. Remember that Walt Disney once said: All our dreams can come true – if we have the courage to pursue them. And he did. So why not you? As Walt also said: A person should set his goals as early as he can and devote all his energy and talent to getting there. With enough effort, anything is possible.

    5) Ignoring your instinct

    There’s something very powerful about our gut instinct. It tells us when something isn’t right or if we should try harder, but many of us ignore these feelings. Try listening more carefully to what your gut instinct is telling you and take action on it if necessary. Don’t worry if you aren’t sure how to do that at first – with time, you will learn. In fact, research shows that women are better than men at trusting their instincts. When they don’t trust them, they tend to doubt themselves a lot more and second-guess their decisions instead of taking action immediately. We need to trust ourselves! After all, we know ourselves best. If you find yourself doubting yourself, stop and ask yourself why. Chances are there’s some external factor causing you to doubt yourself—and once you identify it, you can work through it and gain confidence again.

    6) Getting stuck in one method or product

    Most new business owners have a go-to method or product they swear by, even if it hasn’t proven effective. If you feel your productivity is decreasing because you’re stuck in one method or product, think outside of your comfort zone and try something different. By trying new approaches and seeking feedback from others, you’ll figure out what works best for your audience.

    7) Having a business partner

    In small business, having a strong team is key for long-term growth. Not only does having a partner allow you to delegate tasks (and take on fewer of them yourself), but it also doubles your opportunities for referrals and collaborations. It can be tough to find a perfect match, but if you’re both invested in your business, your skills will complement each other—and create value that neither one of you could produce on your own. Plus, partnering up just feels good! You have someone to share your successes with, and even failures won’t feel as bad when you have a trusted friend at your side.

    8) Ignoring reviews or comments on social media accounts
    If you’re active on social media, you’re likely tracking your follower count and Likes. As a small business owner, it may seem like everyone is raving about your brand and product. However, most people forget that each brand or product has critics as well—people who aren’t impressed with what you have to offer or believe there are better options out there.

    9) Focusing only on short-term gains rather than long-term growth
    Many business owners feel pressure from their own short-term goals, like generating a certain level of revenue or reaching a specific number of customers. It’s easy to get wrapped up in numbers, but it’s important not to lose sight of long-term goals, as well. When you focus on growing your customer base or improving customer satisfaction while looking out for long-term gains, you end up winning on both fronts—and save money in the process.

    10) Jumping from one business idea to another before you find something that works.
    Every entrepreneur knows that time is money, and wasting time on business ideas that will never make you any money is an incredibly expensive mistake. Before you move forward with a new idea, try your best to test it out—can you sell it? Can others see value in what you’re offering? Will customers pay for it? If yes, then great! If not, be realistic about whether or not there’s actually demand for what you have created.

Back to top button