Starting a New Business - What mindset do I need?

Starting a New Business – What mindset do I need?

Posted 19 Jul 2009

Ah, where do you start with a new business.

You have ideas floating around your head, people giving you advice (some of which have never had a business in their life) and the more you think of it the more confused and demotivated you become.

We have all heard of the statistics, you know the ones about how many businesses survive etc. The reality is you don’t want to focus on that, you need to focus on what the ones who do survive, prosper and grow are doing. In nearly all cases:

Formal education is not a pre-requisite
They have a written concise and well thought out plan has been utilized
They have surrounded themselves with people they respect for mentoring
They have connected to local Church, Social, Sporting and Business networking groups
They are passionate about their product or services
They are willing to make mistakes and learn from them
They work with professionals in the finance, insurance, financial planning, accounting and legal sectors for quality advice
They monitor (not do) everything in their business. They have their finger on the pulse of their business
They reward themselves
They crave knowledge and wisdom and much more!
Now that you have that to think about, I’ll do more shortly.