HOW TO BE A SUCCESSFUL ENTREPRENEUR-PART 2

A few weeks ago I posted the first part of this series, if you haven't read it, please do so here Now let's continue where we left off. In the first part, we talked about planning, branding, advertisement and consistency.

These are some other tips that can help in making you be a successful entrepreneur.

TAKE BABY STEPS
As much as your plans are fool-proof, as much as you aim so high, the already laid down projects should be broken down into stages. In fact, it can be in both short and long-term plans.

The point is, break the plans down into stages and achieve them bit by bit. Build your empire from a solid foundation.

They can be in phases, say monthly, quarterly, biannually or yearly, depending on how effective you want your business plans to work.

When I started my fish farm years ago, though I was still in the university and couldn't concentrate much. My plans were broken down to monthly. One of the major reasons businesses collapse is comparing one's business to others.

I would gather money to feed them next month before this month ends for example. It worked perfectly well for me.

HIRE A STAFF
As much as this is an additional cost, one tree can never make a forest. Delegation is key to avoid burning out.

You might not need anybody from the start, but as your business is growing, trust me, you'll need an employee. When I dug my second fish pond, I had to employ someone though, part time to help feed my fishes. I was going there unannounced most times for visitation and supervision. Most times weekend, to reduce my stress and most importantly to focus more on my studies.

So if you hire an excellent employee, you will get your work done faster and easier.

LEARN FROM OTHERS
No matter what the business you want to embark on, at least one person would have been successful doing it. I implore you, please take the footsteps of those and learn from them. If possible make at least one of your mentor!

Being an entrepreneur means making the undemanding and most difficult decisions, like expansion, marketing, hiring and sacking your staff, among others, learning using your capital might be disastrous and spell doom for your business. Though my plans were working perfectly well, unfortunately for me in one of the seasons, i got my juveniles from not too reliable source, most of the fishes did not have the desired weight. I made a loss that season. Though making a loss is part of the learning curve in a business but I could've learnt from my senior colleague who instructed me not to deal with them, but their stocks were cheap.

TAKE CALCULATED RISKS
Some risks are worth taking,

“no risk, no gain, low risk, low gain”

As much as you want to protect your business, unnecessary fear might hinder the growth of your business.

Have you heard the story of the two salesmen? Selling shoes!

They were sent to an island where they never wore shoe. They came back with fear of not selling, the other, fear of not having enough to sell

If the risk is so high, then refer to your mentor to guide the decisions you'll make concerning that issue.

If you don't have a mentor, consult those that have been in almost the same position you are now, to be your guide.

If it's not risky, then it's not profitable, that's the irony of life but the risk must be calculated, and there should be a backup plan, in case that one fails.

CONSTANT GOAL ASSESSMENT
Always check how many pieces of the plans that you have achieved per time. Setting a goal of what you wish to have completed at a particular time is very important.

Assessing your percentage of the goal achieved will give definitely show whether you are on the right part.

For example, as a realtor, in the business plan, your listings per quarter must grow say by 20%, now you're in the second month, you've only achieved 5%, it will make you to intensify your efforts in achieving the set goal per time. On the other hand, if you've reached like 18%, you can give yourself a pat in the back, though not an excuse to slow down. In fact, achieving above your set goals per time, strengthens your strong will to achieve. All these can only be achieved if you're always assessing your goals.

TAKE SOME TIME OFF
Finally, all work and no play makes Jack a dull boy. Go for some vacations, embark on a holiday.

As long as you've hired an excellent staff, change your environment for a few days, burn the steam. You'll have time to brainstorm on next thing to do, in a relaxed atmosphere. Trust me when I say this, you'll feel much better when you resume your place.

According to CNBC report of 2015, millionaires planned to spend $13,000 just on vacation.

Working for someone is not a bad idea, but planning to have your own business also is not a bad idea. Think about what people need in your area and provide help, make money through it.

If you've started, congratulations, it means you've been making the big and small decisions, kindly take few of my tips and add it to the existing ones you've been using. Remain successful.

Thanks for reading!

Special appreciation to @anikekirsten for taking time to edit this work despite her tight schedule, thank you so much.
To @beekerst, your sense of humour is awesome, I was laughing while reading your comment, thanks a bunch.

All the editors of @thewritersblock, your kind gestures are duly appreciated.

All pictures from pixabay