10 Ways to Ensure Success as an Entrepreneur

When you have a servant's attitude, you recognize that it¹s your job to make those three groups happy,” he says.

Stick to the business plan

Many new business owners underestimate the power of a business plan. Nicholas Kensington, Scottsdale Real Estate Agent, shares “I think so often so many of us think we don't need a business plan, or that it might be a waste of time. It's not. Writing up the business plan, and making sure to get rid of anything vague was so helpful. Hammering this down to be as specific as possible with what I would do next helped me greatly.” (Also read, How to Write a Business Plan.)

Provide value to others

Being passionate about your business is important if you want to make it long-term. In addition to passion, you also have to “identify something that provides value to others,” according to founder and CEO of Hush Hush Little Baby Newborn Care, Haleigh Almquist.

Be better than your competition

Almquist says another tip for success is outing your competition: “Respond to clients faster, work longer hours and take smaller profit margins." To be in business long-term, you have to make sacrifices upfront.

Hire someone to do the easy tasks

We love Allen Walton’s tip from Spy Guy Security: “Hire someone to do the $10 per hour tasks so you can do the $100 per hour tasks. I can't stress this enough and am totally guilty of doing this. I try to 'save money' by doing the small tasks that practically any untrained person can do – like going to the post office or packing orders, but I should be doing the stuff that doubles my business revenue and increases profitability,” says Walton.

Network like crazy

Almost every single entrepreneur we spoke with mentioned the value of networking. You can’t have a business without customers, so get out there and meet as many people as you can. Dr. Jeanett Tapia of Intouch Chiropractic went door-to-door meeting people in the neighborhood before opening. “By the time we opened our doors, we had 25 new patient appointments due to those long hours of getting to know our neighbors and other business owners. It paid off!” she exclaims.

Be generous with your employees

Your employees are the face of your business. Treat them fairly, and your company will reap the benefits. Curtis Boyd, the founder of Future Solutions Media, says, “It's important to maintain an image of authority and generosity. You want to be the boss who rewards employees on good hard work. People will work harder for you and your business will be more successful.”

Set up a tax account from day one

Don’t let taxes be what sinks your business. Rebecca West, an interior designer and author of upcoming book Happy Starts at Home, shares her advice. “From day one, set up a tax account (it’s straightforward, just set up two checking accounts at your bank) and put at least 10% of every single check you get into that account. One of the big things that sink a new business is not having the cash to cover those taxes at the end of the year,” she says.

Take care of your physical health

Surprisingly, many entrepreneurs mentioned how to be successful in the professional world, you have to take care of your physical health. Get exercise every day, meditate and eat healthy foods. Tasha Mayberry of Best in Baby Biz shares a few tips on healthy living: Drink two full glasses of water in the morning and always eat a healthy, clean breakfast. “By doing these things, I am laser focused all day long,” she shares.

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