Thousands of entrepreneurs start their journey but very few of
them make it big. Apart from Luck factor, which is not in your control, there
are few things you can do correct.
1- Have a clear plan and
stick to it for atleast 3 months before evaluating it and making any changes in
it if required. Too frequent a change can be confusing for you as well as your
employees and clients
2- Watch out closely at
your Cash Flow. At any time, you should have a cash flow of atleast 8-9 months
if not more
3- BootStrap, bootstrap,
bootstrap till as long as possible. It is easy to spend money on things which
are not your immediate concern. Who said entrepreneurship is easy!!!
4- Focus on getting First 200
clients if you are a B2B enterprise and 1000 unique transactions if you are
into B2C venture. They will form base of your growth. Serve them well.
5- If you already do not
have a Private Limited Company Incorporated or LLP Incorporated, get your
Online Company Registration done as soon as possible. This will definitely help
you in long run and especially for raising funds
6- Hire Right. Never Hire
on speculation of future business growth (apart from Business Development or
Marketing guys). It will be an undue pressure on your resources and would not
be just on the employees also
7- If you have a LLP
Incorporation or a Firm Registration or a One Person Company Registration or a
Private Limited Company Registration Online, it is critical to follow regular
accounting and book-keeping practices.
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