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4 pieces of advice for people thinking about becoming entrepreneurs

Updated: Sep 18, 2022

- Find the right project for your customers/clients

Most start-ups fail because customers/clients are not interested in buying/keeping the new product/service. It is imperative to conduct heavy market research to avoid this threat, including but not limited to direct customer/client interviews.

- Create a network big enough for your business to grow

If you feel you are not good at networking, then you should master this topic long before you start planning a business. A business is nothing without a strong network of customers/clients, suppliers, service/product delivery partners, marketing partners, and others. Building and maintaining such a network is crucial for success.

- Do some research on the financial consequences of being self-employed

The world will look at you very differently if you switch full-time employment for self-employment for quite a while. This can be detrimental to you and your family. We strongly suggest undertaking serious research on this topic, especially if you are planning to make a big financial commitment soon.

- Think about your IT strategy twice or thrice

Most people including us spend more than they should on IT. The only way to avoid this having the right plan from the beginning when it comes to hosts, servers, software, hardware, and similar. We strongly suggest you invest some extra money and time in the right IT strategy, and when you do, think 3 steps ahead. If you do so, IT costs will be way lower in the long term.

#management #consulting #entrepreneurship #business #success #marketing #strategy

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