Five Tips for Surviving First Five Years in Business

A great person once said to me that a business is like a marriage. Just like a newly married couple enjoys the first year of their wedding with excitement, love and fun. The first year of every business is also the same. And as the time passes, it becomes tiring to handle a lot of work, responsibility, and things to take care of that before. If you can survive the first two- three year of your business you can surely survive the business for all time. For all those who are starting up a new business with zero experience in management and business handling, here is a short guide that helps me inspire as well.
1. Commit to the Business: Tell yourself every day, in fact every moment that you are not going to allow this business you started to die. You are going to do everything possible to help your business (your dream) to grow and prosper. You want to reap profits from your hard work of setting up this business and you will let it die for no matter what are reasons. Your business needs your commitment. Just like a true girlfriend desires for a committed partner.
2. Set up Long-Term Plans: Okay, your business idea is great and you can earn millions from it in just one year. But when will that year or period start? Don’t push yourself to accomplish everything in just one year or small-time span. Give your business some time. Set some long-term plans so you can better focus on the ultimate goal. Set realistic goals that can be achieved. This will keep you motivated throughout.
3. Throw Out Failure From Your Plans: Did you think of failure when setting up a business? If Yes, why? Don’t let the ‘F’ of failure overtake your ambition of success. If the fear of failure tries to overcome your spirit, try and deviate your mind by thinking of good things and motivating yourself. There may be times when things may not show up as planned. But that doesn’t mean you should let go the good spirit in you.
4. Prepare Yourself for Success: Success is hard to come. That is true. It is even harder to accept. Once you have achieved the goals. You may start doubting your potentials or it may all sound alien because you have been till now dreaming of it. Prepare yourself to accept the success and don’t let it dance on your thoughts.
5. Do Not Rush: There is a lot to achieve. You may have achieved one of your goals, but what about the rest of the goals. Are your prepared to achieve them as well? Don’t rush to achieve everything at once. Strategically plan for the goals and ensure you achieve them even if you have to try a thousand of times.
Many businesses are closed down soon after being started. This is because of lack of motivation and enthusiasm. Success and failure are part and parcel of every aspect of life whether it is business or love life. Don’t let failure de-motivate you and don’t let success overtake your peace of mind. This way you will be able to survive and enjoy your business as well as married life.
Thanks for reading.

Geetika Sachdeva is a Post Graduate in Mass Communication and Business Management. She has a work experience of seven plus years in Business Research and Analysis. She continuously blogs about business and media and has authored more than a dozen of eBooks. She is currently working on a book dubbed HRM In Small Businesses.

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