Top three tips for new Entrepreneurs in 2021


Amid COVID-19 Pandemic in 2020, the year saw a lack of job opportunities in almost every sector. Due to this a lot of people lost their jobs. This made a lot of people transition over to start-ups. In current sensitive times, a lot of contemplation should be done before choosing any decisive step in business. This holds true especially for start-ups that generally lack prior experience. In this article we will look at a few tips that every New Entrepreneur should have in 2021.

Perseverance

An obstacle plaguing a lot of new entrepreneurs is their lack of persistence with changing times. Entrepreneurial persistence is denoted by an entrepreneur’s optimism towards their decisions despite militating counter forces or promising alternatives. Upon making a decision a lot of new Entrepreneurs overthink about it from varying angles. Inviting all sorts of needless troubles. Having faith in one’s decision is one of the key elements in entrepreneurship. Entrepreneurship is about going all in. It empathises taking big risks in the hope for a rewarding future. Today’s leaders are the ones who took plausible decisions and stuck by them throughout, rather than ditching them intuitively.

Therefore, entrepreneurs should have faith and trust in their decisions. It will help in building up your self-confidence and would make you feel more accountable for your decisions.

Segmentation

Breaking larger goals into smaller ones is one of the best ways to achieve them. It provides instant gratification upon achieving them, and also instils us with momentum to achieve more. Larger goals aren’t achievable as such, as they require a lot of dedication over a long duration of time. For achieving them we should segment the larger goals into smaller (more manageable) goals. These goals could be made such that their progress could be identified in a short duration. For Example, Setting goals on a per-day basis or a weekly basis. Goals that have a shorter deadline creates a sense of urgency, which constantly reminds us about completing them as soon as possible.

These goals are easier to accomplish (than larger goals) and when completed regularly would help us in accomplishing the larger goal.

Reiteration

A blunder that a lot of entrepreneurs make is to not learn from their past mistakes. Some get discouraged from their mistakes and give up, while others blame it on their luck/fate. Which are means of avoiding confrontation with reality, rather than tackling it. Committing mistakes isn’t much of a crime by itself, as much not learning from it is. A person who doesn’t learn from the mistakes of his past is bound to do them again.  Mistakes are an integral part of one’s learning process. If we don’t learn from Mistakes in the past, we would never grow. A Wise person embraces the committed mistakes, as it would prevent him from doing so in the future.

Therefore, careful attention should be provided towards reiterating past mistakes, and learning from them.

 

82 K Views