Starting A Startup Business?

3 MUST KNOW to have the best start!

 

Receive support from your surroundings

The family / immediate environment has a big impact on motivation and long-term passion

If those surrounding you are well-educated and well-established, it will give you more emotional and economical confidence in choosing your entrepreneurial steps and not to be driven by "fears" or pursuit of quick achievements that can undermine your success rates over time.

It's important to make sure you have the full support from home.

Investors want to see the charisma and brilliance in your eyes and your willingness to invest all that is necessary for the venture.

10,000 hours of investment

Malcolm Gladwell points out in his book ”Outliers”, the 10,000 hours of practice that can help anyone be excellent regardless of talent. In studies conducted in the 1990s among composers, basketball players, writers, ice skaters, concert pianists, chess players, and others, the findings suggest that 10,000 hours of practice are needed to achieve the level of control associated with world-class expertise in every and any field.

For investors, the entrepreneur's rich experience accounts for 70% of the value of the venture.

Long-term economic assessments

Robert Kiyosaki in his book “Rich Dad Poor Dad” talks a lot about the differences between poor and rich thinking. When you decide to embark on a new path and develop an entrepreneurial idea, it is important that you prepare the financial ground for it. In Kiyosaki's definition, the index for a "rich" person is not derived from how high his monthly salary is, but from how long a person can exist without active employment.

When I left the high fixed salary benefits of an employee, I sold my apartment  and bought a small apartment for investment so that it would give me a fixed passive income as I was developing my independent direction.

I wanted financial security, so I separated my professional business marketing consulting from my income. My monthly income was based first on real estate. In addition, I cut my monthly expenses and liabilities, such as car and shopping, to allow myself more economic freedom.

I managed to create for myself the possibility of not being actively employed, for 2 and a half years. 2 and a half years is a great time to develop a new venture, with fewer worries financial overhead.

AUTHOR


Rinat Keinan

Senior Marketing Manager, Author, Entrepreneur, and Founder at The PIPELINE Tools. 

Rinat Keinan holds an M.Des in industrial design and has 12 years of experience in the field as a Marketing Manager for global leading brands with high achievement awards for business & strategy success, in various marketing positions.

Her pipeline guide was highly evaluated by a worldwide leading feminine 1 million entrepreneurs organization as “essential read for the idea generators- wanting to transform their idea into reality”

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