Making the decision to become an Entrepreneur can seem overwhelming because there are many entrepreneurs who find it difficult and starting a business does not guarantee that your business will be strong and profitable. However, there is much one can do to reduce the chances that one's entrepreneurial commitment will backfire.

I tried to do some research and I asked the Entrepreneurs who have come a long way, what advice they have for their young friends who are planning to become entrepreneurs or who have just started.

In this article I share with you five (5) tips that you can use to help you become an online entrepreneur with plans to reach far.

Find what you're passionate about: Many of the world's greatest businesses were started by people who love what they do. Things you know how to work hard and feel happy doing would be a great business for you. The reason why it's good to start a business in something you love and feel is because it's all there is to it. Adoption takes time and is often large. When you do what you love, and you are able to empathize with me, it will take you far and it would be good to make it a business. When you're doing what you love, you're capable and you feel good about yourself even when you face obstacles and you don't get discouraged. It is not a good idea to start a business just looking for a cat because it is unlikely to be a successful business.

Know Your Business Deeply: Knowing your business deeply means having enough information about the business you want to start and doing research to get reliable information. Many start-ups find it difficult to start without enough information and to define the business they want to do. Who are your target customers? What do they do? How old are they (young or old)? Do they live in the city or the countryside? When you know the business you want to start, it's the ingredients that help you get the most out of your business.

Get your business's finances and assets in order: Oftentimes, early stage entrepreneurs are the ones who invest in their startups. Also, on the first day of the business, it is better for the business owner to set up a way to manage assets and finances, to record every money that came in and went out and how it came in and what went out (why). If you start to avoid this advice you really want to be an Entrepreneur then stop it. The good news is that there is a technology company in Rwanda that is determined to help Entrepreneurs know the status of their businesses in terms of finances and assets. It's called KUDIBOOKS. Sign up for KUDIBOOKS as a free mobile app and start managing your finances without having to be an accounting or real estate professional.

Be prepared to make a lot of sacrifices: You don't wake up as an entrepreneur and then the next day you become famous. It doesn't happen. Getting far takes a lot of sacrifice whether you are an Entrepreneur or a job seeker. For Entrepreneurs there is more. Some of the things you sacrifice are getting enough sleep, going to a friend's party or a relative's wedding. Would you go to an event with clients who want you to provide them with your services? Sacrifice means taking away more than you think you deserve because the customer is always king. When you don't want to make sacrifices, you fail and the sacrifices take away your clients. So, do you have a recipe that says you've been to a party?

Get mentors: Running a strong business and being a professional Entrepreneur requires a lot of different skills. It is difficult for an entrepreneur to start with all the required skills. It is better to find consultants who have experience in running a small business. In the English language they are known as “Mentors”. What you can tell from these counselors is that they have been through a lot but they remain steadfast. It helps you to get useful tips and get more knowledge in less time. Because often these consultants are experts in what they do and business in general.

In another article, I will share with you five (5) additional tips as an entrepreneur that you can use to get further in development.

Published by Pacific Coast