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Rear view of a young businessman looking at his mobile phone screen and wearing a dark suit standing near a concrete wall with a colorful social media sketch on it
It only takes a few Google searches to become overwhelmed by the abundance of information existing about entrepreneurial start-ups. Numerous stories exist on how this or that start-up transitioned into a victorious, reputable business. But, in various cases, you are going to be left trying to fill in the blanks or still searching for case studies significant to your industry or business model.

There is only one dependable method to get your industry to the next level. And that involves putting your faith in tried-and-tested methods that other entrepreneurs have used to make the leap.

  1. Focus on productivity and not only on activity

Shun the busyness trap and question yourself on what you need to focus on today or in the future. Plan in advance so that you know precisely what your next steps are. Leadership expert and Coach Leah Wultschik has distinguished that when leaders engage in all way of busyness, the never ending center to get things done results in decreased creativity. You will constantly be in a reactionary state, leaving you unable to make strategic decisions.

  1. Hire the best talent possible

Surround yourself with world-class workers who bring priceless ideas to the table rather than trying to squeeze what you can out of second-rate employees. Aislinn Malszecki, who oversees content strategy and community at MaRS, suggests the following steps to be a focus for finding the best talent possible:

1. Avoid reactionary hiring: Founders frequently find themselves badly in need of help and may hire without looking for the right fit and skill set.

2. Create a buzz for your company: Make use of your reputation and personal network to draw the right kind of people to your business.

3. Tap into your network: In addition to posting jobs on your website and LinkedIn, influence your network as well as the networks of your employees to find like-minded candidates.

4. Building your team is not a subject to be taken lightly: Neighboring yourself with the right people can mean the difference between breaking through and remaining stagnant as a business. Work with people who motivate you.

  1. Partner with an agency

The opportunity cost of doing the whole thing by yourself can add up fast. Work with an agency. The up-front cost of outsourced work will eventually be less costly than trying to do it all yourself.

Patrick Woods, director of customer success at Keen IO, notes the certain challenges of working with an agency. To overcome these hurdles, he suggests:

1. Build a relationship with the agency: Take out time to get to know the people you’ll be working with. Determine fit as well as expectations.

2. Communicate: As start-ups tend to move fast, converse regularly and clearly with the agency to ensure you’re on the same page.

3. Understand what the agency can do for you: Elucidate its staffers’ core strengths and competencies. Establish what tasks you’d like them to take over and which you’re looking to handle in-house.

  1. Beware of negativity

Lack of enthusiasm can poison the waters of your entire company. On the other hand, being confident will instill a sense of confidence in your employees. They will follow you more eagerly. Best-selling author and keynote speaker Jon Gordon has pointed out that negativity can affect the morale, presentation, and output of your team. Negativity can also lead to decreased energy and increased stress. When it comes to creating a positive work environment, the responsibility lies with the leader. You need to set the tone for your team to draw the best out of them.

  1. Avoid burnout

James Schramko of SuperFastBusiness is an advocate for getting more rest and sleep. Schramko points out that good rest can help you boost your performance. The cost of losing sleep is important and can include: depression, a weaker immune system, memory issues, obesity and more. The cost of burnout can be particularly high if you make yourself incapable of working for an extended period of time. Consider the costs before letting yourself get to that point.

  1. Prioritize

You will not be able to do it all. No one has more than twenty four hours in their day and we are all very busy. Derek Sivers, the founder of CD Baby, has said that he lives by the “Hell, yeah!” or “No” philosophy. He explains that saying no to most things leaves room in your life for the few things that get you truly excited. If you find yourself wavering between a “yes” and a “no,” he suggests choosing “no.” Only say “yes” to opportunities that you cannot pass up.

Conclusion

Transitioning from a start-up to an established business can take time. Do not hurry the process pointlessly. When all of the right pieces are in place, you will be able to shift easily from one stage to another. If you try to force the issue, you may end up with more troubles than you bargained for.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Female business owner standing in the street outside cafe
Many women in business field face more difficulty than their male counterparts. The rate of turning away female entrepreneurs applying for small business loans by the banks has also increased alarmingly. However, fortunately, the government has special policies and grants to give loans and assist in flourishing women-owned businesses nationwide.

GUIDE TO START A WOMAN-OWNED BUSINESS

1. Select the Business Entity

First of all, give thought about what kind of business you would really like to start. You cannot jump into a new business, head first, without thought and run it successfully.

Know your interests and the pros and cons of your interest in that business specialty.

2. Plan How You Will Proceed in Starting Your Business

You must know what kind of business you are going to run. Do research on it before you file for its registration by the local or federal government. Get a brand or logo for your business identity.

Make an expense and costs data sheet that you will require to start a business. How will you manage the funding? Do you need a grant by the government or some other type of loan?

3. Obtain Tax Identification Numbers by Filing Form SS-4 with the IRS


4. Register with the Central Contractor Registration Database, Using your Business Information, Tax Identification Number and DUNS Number.


5. Join Women’s Business Organizations such as the National Association of Women Business 



FINANCIAL ASSISTANCE IN A WOMAN-OWNED BUSINESS

Understanding grants

Small business owners want to turn to grants because they think grants are free money and they will not have to pay them back. But, these small business grants come with conditions. First of all, you will have to find a grant for which you are eligible for as a small business owner. Then, you will have to comply to the guidelines for submitting the application and wait for its approval until you get entitlement for the grant.  After approval, you still are required to genuinely report on the use of money afterward.

Here are few options for private grants that are available for a woman-owned business.

  1. The Eileen Fisher Women-Owned Business Grant Program
  2. FedEx Opportunity Knocks Small Business Grant Contest
  3. Idea Café Small Business Grant
  4. Innovate HER:Innovating for Women Business Challenge
  5. Small Business Innovation Research
  6. Small Business Technology Transfer Program
  7. Zions Bank – Smart Women Grants

Loan options for woman-owned business

Pilot loan programs assist prospective debtors in developing loan applications and obtaining loans. A Women’s Business Development Center or a Small Business Development Company are examples of such programs.


Women owned-business opportunities

When more than 51 percent of ownership in a business is by a woman or women, there are special facilities and assistance programs present for such businesses. Not all women business owners try to go for these options, but many do. Local government, states, and federal government have special programs for women owned businesses.

If you are a female entrepreneur, register your business as a woman’s business enterprise (WBE) and it will lead to several opportunities for you.

WBE Certification Process Requirements

  • More than 51 percent of ownership is held by a woman or women
  • The business has been in the market for at least 6 months
  • The owner must be a US citizen. If ownership is with a woman who has not received US citizenship yet, she must be a legal resident in the US
  • Proof is compulsory to show that the role of capital from the female business owner is genuine and in ratio to her ownership interest in the business
  • The female business owner must direct the management and business decisions

Conclusion

Female entrepreneurs are making a marvelous impression on the small business landscape countrywide. The government that has special policies and grants to give loans and assist in flourishing women-owned business nationwide. Women just need to come forward with a brilliant plan and commitment to start and run a successful woman-owned business.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

 

 

 

 

 

 

 

Development and growth concept. Businessman plan growth and increase of positive indicators in his business.
Recent reports by Sageworks, a financial information company, revealed the industries that are most and least profitable over the studies of previous years. According to their research, businesses that are service based have low start-up costs, although they require specialized procedures of training and function services which fare well in today’s market. This includes law offices, real estate brokerages, and accounting/bookkeeping firms.

On the other side of the spectrum, businesses and retailers related to the food industry struggle in sales, with farming and grocery stores seeing close to no growth at all.

Bierman, a business analyst, said “Because of their volume based business model and competitive markets, margins tend to be smaller. Grocery stores and manufacturing companies are good examples. Oftentimes their goods may be considered commodities and to charge extra for a loaf bread may drive consumers to a different store over time.”

If you are starting a business or planning to do so, here are some of the most and least profitable businesses in recent years.

Most Profitable Businesses

Tax Preparation, Accounting, Payroll Services and Bookkeeping

Not sure which business to start? Well, if you are good with numbers, an accounting firm will be the ideal option to invest into. Over the previous years, tax preparations, bookkeeping, payroll services and accounting have seen a remarkable increase of 17.84 percent in the growth of sales.

They are likely to gain profits because their start-up costs are low and all you have to pay for is your employees, technology, and training. Alongside, it is a service-based business, therefore, no amount of money has to be spent on inventory. All one has to focus on is obtaining effective employees and build a reputable name for their business.

Legal Services

Similar to accounting, legal firms are a service-based industry that have seen a positive growth in sales of around 16.89 percent over the past years. They have small start-up costs that mostly include employees holding law degrees. Although an investment is required in special employee training and education, legal firms are able to generate a good amount of money.

Management of Enterprises and Companies

A 16.75 percent growth was noticed in this business realm. Therefore, it is a wise decision to invest in this industry. Typically, these businesses consist of privately owned banks of holding companies that are supposed to advise and further assist other companies in making essential and important management, operational, and financial decisions. Although the offices are niche and mostly offer services that are specialized with skilled employees, these kind of companies often bring in a considerable amount of profit.

Offices of Brokers and Real Estate Agents

The real estate industry has seen an increase of 16.6 percent over the past few years. Although the industry fluctuates and this can be hugely affected by changes in the market, it is wise to invest in this business when an increase in positive trends is noticed because real estate agents make good amounts of money when the business start-up is up and roaring.

Least Profitable Businesses

Gas and Oil Extraction

Gas prices were lower in 2017, similar to past years. Firms that are operating in the gas and oil industry have been noticing a drop in sales of around 4.24 percent. With major fluctuations in the market, competitors, and incredible barriers to entry, this may not be the best business to invest into.

Beverage Manufacturing

According to research, this is not the first time that beverage manufacturing has been on the list of the least profitable businesses to start. Although it covers both alcoholic and non-alcoholic drinks, the latest technology trends have introduced soda fountains and other types of drink dispensaries. Alongside, people are becoming more health conscious, due to which beverage manufacturing is declining. Over the past year, more than a 1.49 percent drop in sales growth was noticed.

Bakeries

Whether it is due to major competition or high costs of start-ups involving kitchen supplies, equipment, and overhead bakeries that are commercial, bakeries have been on the decline for a while now. According to research, a 0.81 percent drop in sales growth was noticed.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Cardboard boxes on conveyor belt in warehouse
Wholesale is basically the middleman function performed by a wholesale distributor. The end users are customers and the supply chain begins with the manufacturer on one end of the channel. Wholesale trade is also a major contributor to the country’s GDP (Gross Domestic Product). Before you become a part of this industry, it is essential to ensure factors that will be discussed in the paragraphs that follow. Other than a keen salesmanship, a wholesaler is required to understand how to operate with efficiency and ensure that profit margins do not thin out in the process of trying to keep both the manufacturers and customers happy.

Credit Management

Before you start a wholesale distribution business, you must understand the need to manage both receivables as well as payables. In wholesale, in order to maintain creditworthiness, management of receivables is the key to success. Unless the amount owed by customers has been paid, suppliers/manufacturers will be delayed and, thus, supplier relationships will languish over time. Therefore, to keep both relationships in balance, you must be able to synchronize the two parties. This may be successfully done by implementing credit limits for each customer during the bookkeeping process. Moreover, do not extend their debtor days beyond the due time period on unnecessary requests. Get all customers on board regarding the standard debtor’s day policy and ensure that each customer is aware of the ‘no-exception’ policy in advance. As for the suppliers/manufacturers, make sure that all suppliers are paid within the provided time period and flexible days must be negotiated prior to getting them on board. A good sync between the two parties will ensure a seamless functioning of your wholesale distribution business, which will be able to keep its creditworthiness intact.

Cost and Funds Planning

For any and all wholesale distribution businesses, the largest cost factor to consider is inventory cost. This cost is then followed by payroll, maintenance, equipment, and procurement cost heads. Before you start your wholesale distribution business, make sure these cost heads are meticulously sorted in order to avoid any last minute surprises. It is recommended that sufficient capital requirements are estimated prior to going on board. This initial capital will include the cost of inventory as a major cost as wholesale is solely dependent on inventory. Before you start a wholesale distribution business, you must have an accurate estimation of these costs in order to secure funds to initiate the venture. As for funding the business, personal savings may be the initial go-to for any start-up, but other sources of financing need to be secured in order to bring in huge inventories. The main product for any wholesale distribution business is inventory, without which the set-up is useless. Secure funds even through informal sources such as family or friends to begin with. Formal channels such as bank loans, hybrid securities, trade credit, crowdfunding, etc. may eventually be approached at a later stage.

Contingencies and Backups

As previously mentioned, inventory is the most crucial of costs. It is also the main product that wholesale distributors must procure. Without this procurement, operations may never commence. Therefore, before you start your own wholesale distribution business, you must plan for unforeseen delays and uncertainties in regards to inventory to ensure minimum lost orders. Lost sales are not a very healthy sign for a newly established business. It usually gives a bad first impression to customers. In order to ensure honoring your sale obligations, backups and contingencies must be set to ensure seamless operations during a shortage or unnecessary delays from suppliers. Lost sales are just one phenomenon; customer satisfaction is yet another. In order to keep customer satisfaction at par, inventory may be kept aside for use during shortages and delays, depending on the nature of the product, of course.

Check out America's Best Bookkeepers


About Complete Controller® – America’s Bookkeeping Experts
 Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

Man holding blue helmet close up
Do you want to become a manufacturer and build your own manufacturing unit? Do you have finances to fund your manufacturing business?

If you have the financial resources, the abilities to build a team, and the drive to run a product-oriented business, you must consider starting a manufacturing business. Manufacturing businesses can be small industrial units in the start and grow to huge industrial units. Multinational companies were once small business units as well.

Starting a Manufacturing Business

Manufacturing units require a lot of dedication and commitment to your work. Not only this, you must be clear about your product’s market demand. You must know the market share of your competitors with a similar product. However, these points come after you have manufactured your product. For a manufacturing business, you must build a manufacturing unit.

Research in Advance and Plan your Business Idea

What kind of product do you want to manufacture? Is there a market already available for your product?

What kind of team will you need for your manufacturing unit? What will be the costs and expenses? Will you need financiers to your manufacturing business or can you do it with your invested capital in your manufacturing business? Get the guidance of consultants who are experienced in formulas for your product and/or acquire bookkeeping/accounting consultants that can help you start.

Sometimes, a product is going obsolete from the market and you want to restart it in your newly established manufacturing business. Do you want to take that risk?

Location of your Business

You might want to go for a cheap area to begin. However, manufacturing businesses require good infrastructures. The area must have a link to potential customers. Where will you get the raw materials and how will you supply that to your manufacturing business unit? How will you deliver your products from your manufacturing unit to the distributors or directly to your customers?

Any additional taxes in a specific area that are induced by the government is a point to be considered. Focus on what kind of product you are going to manufacture and if that product needs your manufacturing business unit to be built in a certain area per government policy.

For example, pharma companies cannot run their manufacturing units in residential areas within a city. Manufacturing businesses must obtain approval from special offices as designated by the government of that area/country.

Find the Right Factory

Your manufacturing business should be in a factory where all resources are present. Electricity and power resources are a must have in any factory. Space for warehouses, storage areas for raw materials, quality assurance and quality control checks areas should be in the factory. A storage area for finished products after quality assurance is also needed.

Build a Great Team

A manufacturing business is a team effort. Your team must be loyal and trustworthy. Select a team that is efficient and has the right skills and experience for your manufacturing business.

A great team also needs good salaries. If you offer good salaries, your employees will work happily, producing quality products every time a batch is manufactured.

You must have skilled managers. Or, if you want to manage the tasks yourself, you must also have great managerial skills.

Business Model

You might have a great idea of how to start and run a manufacturing business. You might have selected an ideal location and are planning to buy the equipment. However, before making any purchases, take a look at other manufacturing business models. Perhaps you can learn from their experiences and their mistakes so that you don’t repeat the same mistakes in your newly established small manufacturing business.

Conclusion

The above guide can assist entrepreneurs who want to start a manufacturing business. A manufacturing business is not a simple, small business as it may seem. Initial planning and getting ideas and experiences from other manufacturers can assist you and prevent you from the same mistakes they have already made. Plan and work hard to run a successful manufacturing business. Also, give credit to your team who works for you.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

 

Retro style image of a rustic wooden sign in an autumn park with the words Courage - Fear offering a choice of reaction and attitude with arrows pointing in opposite directions in a conceptual image.
Starting a personal business is one of the financial dreams that many people wish could come true. Although most people think that it is the lack of resources, a complex market situation, or some other significant factor that stops them from initiating their own company, the most potential element is actually themselves resisting to get into entrepreneurship. In essence, the only thing that can hinder you from starting your business is YOU!

This is because entrepreneurship begins with taking calculated risks, accepting responsibility, and striving for turning the idea into reality. Until and unless you do not take a smart risk, you cannot initiate a business.

There is no perfect or ideal time for starting your business. Rather, you have to find the time to start it regardless. You don’t need permission form anyone. You are the only obstacle standing between your idea and its fulfillment. And, you are the only person who can turn your idea into reality and build a business you have always desired.

Consequently, there is no reason to wait for someone else to start your business, such as a digital agency, a bookkeeping, and taxation firm, a bookstore, a real-estate company, and a photo studio. Here are the five most common, yet biggest fears most people face that you must overcome to effectively land on the road to entrepreneurship.

1. Fear of Failure

According to psychologists and mind experts, the fear of failure is more bitter and unbearable than the loss of autonomy and the fear of separation. It is one of the leading factors stopping you from starting your business. 

In order to overcome this fear, you have to redefine the meaning of success. You have to realize that a decent job with handsome pay and so-called financial security with employment is not the definition of success. Rather, chasing your dreams and achieving your goals is a real success. Once you realize it, you will begin working towards your dream instantly.

2. Inadequacy

There may be a voice in your head repeatedly telling you that no one would take your idea seriously. Rather, your idea is a poor thought that can barely produce fruitful results. Also, the voice may be reassuring you that your current job is a necessity, at least for now.   

To conquer the fear of inadequacy, spend time with entrepreneurs who are naturally confident and go through their past and present successful biography, telling you how they transcended their fear. You will know that successful entrepreneurs think of success, networking, and confidence instead of feelings of inadequacy, insecurity, and unworthiness which is common with others who only dream of having a business. Once you realize the truth, your fear of inadequacy will diminish, thus starting your business will become easier for you.

3. Humiliation

The fear of ridicule and rejection can be more damaging than the fear of failure. Being anxious about what others will think and how you could be embarrassed is another factor stopping you from starting your business.

Once you start taking steps towards initiating your business, you will be surprised to see that people will incredibly encourage and support you. They will appreciate your idea and efforts instead of criticizing you for your bold step. Also, many people will rally to join your venture.

4. Poverty

Poverty is another big fear stopping you from starting your business, especially with individuals who have grown up in a poor family and feel worried that they would stay poor if they do not have a secure job. For them, compromising on the job is like inviting poverty into their life.

To overcome the fear of poverty, you must realize that you have to sacrifice something to ‘gain’ something. A closed fist cannot hold anything. You must open your palm to get anything special.

5. Separation

The self-contemplated sense of separation from your resources, as well as even very close relationships for working towards your dreams, is another factor stopping you from becoming an entrepreneur. On the contrary, starting your business begins with taking the first step alone and then you will find many other following your footsteps. Remember, even if your first attempt to fulfill your dream fails, you will know who your real friends are and see the true face of life. Once you know who is always with you, equally in your good times as well as bad times, it will certainly help you in fulfilling your dream. With that in mind, take the first step!

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

What Would You Do If You Weren't Afraid? paper sign
Fear, insecurity, and self-doubt are the natural feelings people face when they think about the idea of starting something new. It’s a terrifying feeling, to say the least. Entrepreneurs of all stages and kinds face some sort of inner-resistance.

Such resistance is not limited to new businesses. In fact, anything significant that requires you to break out of a mold confronts inner-resistance. Fear is a natural response to a threat, not limited to humans. Every species on the face of our earth experience some kind of fear – that’s how we evolve. Fear creates real change in our mind and body. It can force us to run away, go into hiding, and bring a stop to our actions. Fear is not always visible, often it surfaces in shape of confrontation and, at times, in the form of avoidance or procrastination. It is important to identify fear and not mix it with other feelings.

As an entrepreneur, the pressure doesn’t come from only the ‘fear of the unknown’, but pressure from peers and investors also plays its part. However, the most prominent pull comes from the challenge of proving it to yourself. It is often said that a good entrepreneur is one who constantly proves themself wrong.

Below we have identified some key ways to counter some of the biggest hurdles that come our way when we plan on starting something new.

1. Set Realistic Targets – then Overlook your Hidden Perfectionist

If we look for one thing in common among all of the entrepreneurs who made it to the top, we will find that their ability to set goals sets them apart. In the words of Benjamin Franklin, “If you fail to plan, you are planning to fail!”

Planning comes from setting realistic goals, not that you want to be a millionaire – that’s not a goal, it’s a wish. Start by finding out your business’s ultimate objective. Then, go on dividing it into smaller achievable chunks that can serve as stepping stones. Most entrepreneurs are considered perfectionists; you have to understand that not everything needs to be perfect. Throughout your journey, you will pick up a lot of ideas that will bring you closer to perfection – but for that, you need to start doing. Also, Bookkeeping is a good habit; establish it from day one to effectively measure your progress.

2. The Constructive Attributes of Fear

Remember, fear allowed us to evolve so it can’t be all bad. Fear is a survival instinct. Our natural fears are rudimentary. We fear to fall. We fear deafening sounds. These are deep-rooted responses that prepare us for something perilous. So, how does fear help in business? Nurture it and use it to identify sensitive points which can put the existence of your business in danger. Once fear points are identified, develop your business plan around it. The key thing here is balance and that’s not limited to fear only. Everything we do instinctively serves a purpose. Find that purpose and use it to your own benefit.

3. Find your Ideal

Think of someone who you admire in your related field. Once you’ve identified that person that ceaselessly inspires you, you will discover certain examples from their experiences that match your needs. This will bring much-needed motivation and we all need motivation – a motivation that is based on facts and not on soft dialogues.

Look for yourself in other successful entrepreneurs because there is always ‘One’ like you. Learn from their experiences and mistakes.

4. Where there’s a will, there’s a way

It’s crucial to understand that when setting off on a new endeavor, failure isn’t the end. You don’t fail in business, either you succeed or you learn. Some of the most successful business owners have failed enterprises in their past, but that fact didn’t dim their success. If anything, it made success a lot sweeter.

Moreover, from our experience, we can tell you with 100% surety that there is no other way to learn than to learn on the job. If you are planning to wait for a perfect moment or when you’re totally comfortable, then you will never start.

Uncomfortable is good. Embrace it, love it, nurture it. It pushes you to be better and flames your inner hunger to learn. If you’re easily content, you will be left behind real quick. So don’t dread the fear, use it to bring out the best possible version of your business and yourself.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.