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BizAssist.co.za  News
A Start-up Survival Guide
By: Chris Vermeulen General Manager of Bandwidth Barn
Date: 2010/06/23
Before setting off on your start-up journey, it is important to keep in mind some basic key guidelines. See how many points you can tick off from my essential entrepreneurial survival checklist.
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Be prepared (as best possible)
This doesn’t only apply to boy scouts. No one should ever go into a new business venture without knowing what it is they aim to achieve – in detail. Creating a business plan should be your first stop. Ensure it is as comprehensive as possible and don’t shrug things off as unimportant too easily. Doing in-depth research into your market and competition, for example, may reveal things that could surprise you. Don’t ‘assume’ you have enough understanding or knowledge either.
Learn under fire
Although a solid business plan can help you map out a firm route , it cannot predict the future or fully prepare you to become a successful entrepreneur. There is no such thing as the perfect plan or the perfect road. Although you should never jump right into a new business without thought or planning, don’t spend aeons procrastinating or over-analysing. You will pick up your most valuable lessons when tested under fire. Don’t be afraid to learn from those mistakes!
Get ready to “rough it”
Remember that Rome wasn’t built in a day, so you shouldn’t suppose your business can be. Although it’s good to visualise what you want to achieve – cushy office, smiling personal assistant, Armani suit, Aston Martin DB9 – you shouldn’t be put off by your initial working conditions. You’re going to have to get used to working out of a garage or room for a while, eating dinner at your parents’ house and “staying in” over weekends while your friends socialise at the newest clubs or trendiest restaurants. Enjoy this phase – these are formative times, and you have so much to look forward to.
Make sure you have basic gear
Ensure you have adequate equipment to run your business. Luckily, in today’s world, this doesn’t equate to a huge investment in most cases. A cellphone, computer, car and Internet connection can be sufficient. Start with the bare necessities and build on this as you start to see return. As soon as you feel you can afford it, buy yourself a chair with wheels, or some more RAM for your laptop, or even a plant to brighten up you working space.
Have direction and set achievable goals
Ok, so you know where you are heading to and what you want to be… but how realistic is it? If you set goals too high, you run the risk of disappointment and lowered morale. I’m not saying you need to dream small, but you must be careful. If you are aiming for the stars, add more attainable mini-goals along the way. You will need to feel a sense of achievement to push you forward and keep you motivated so give yourself incentives and divide your big dream into smaller, more achievable parts.
Don’t make mountains out of molehills
There will undoubtedly be obstacles in your path - and not just one or two, but several, and consistently. If being an entrepreneur was an easy feat, the whole world would be doing it. Going at it alone, facing up to uncertainty, taking risks – these are all very brave and admirable actions. Are you really going to let a little set-back bring you down? Trivial things should remain trivial. Never let minor mishaps get in the way of your success. Remember why you decided to do this in the first place.
There will be snakes
Make peace with the fact that there are people who will want to see you fail. Be the bigger person and don’t stoop to their level. Be fair, but firm in your dealings with both clients and suppliers. Don’t lose your cool with people, and always make sure you read the fine print.
Hakunamatata
It is very important to have fun on your quest and to enjoy all the lessons you are learning. Don’t be so hard on yourself! If you stumble, regain your balance and keep going. Don’t stress about what you cannot change. Stay determined, positive and passionate about your venture. Be open, friendly and helpful to everyone you meet – you never know when they may return a favour.
Be healthy
If you haven’t got your health, you haven’t got anything. You are the driving force behind your business and it cannot exist without you. Entrepreneurship is a lifestyle, and not just a profession. Allowing yourself to burn out will make you less productive and keep you demotivated. Don't make excuses. Eat right, exercise and find time for yourself, your friends and your family.
This article has been archived under Starting Your Business for your research purposes
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