Entrepreneurs balance work and family

I once made the mistake of letting work consume my life, resulting in me neglecting my family, and forcing me into a corner where I had to one day make a choice:Work or family.The choice is simple. Family first, always. But being forced to leave your business is not a successful outcome for any entrepreneur.Since…

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Entrepreneurs can’t stop the future

There are obvious ways to stay alive in business: Spend less than you make. Don’t break the law. Keep your promises. Focus. But there are some other tricks to survival… Don’t make enemies There are exceptions to this rule, but generally it doesn’t pay to have enemies. If you don’t like someone don’t confront them. Just…

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Entrepreneurs have a sense of humor

If you’re an entrepreneur without a sense of humour, not only will you be unhappy, but your business will fail.Entrepreneurs can: Laugh at themselves The moment you take yourself too seriously you set yourself up for failure. The secret to success is to always have humility. That way you have an open mind and can absorb…

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Entrepreneurs don’t try. Entrepreneurs do.

“I tried my best” is a line for the corporate world. It’s a line for a world where someone will bail you out, where you can use excuses to cover failure, where you can blame others, where you don’t need to worry about your paycheque.Entrepreneurs don’t live in that world. Entrepreneurs know that “try” is…

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Entrepreneurs choose sides

Some people are always sitting on the fence. Always keeping their options open.Generally, this is a winning strategy. Choosing sides means making enemies, and business is hard enough without having enemies trying to stop you.If you’re lucky you can go through life without making a call. You can perch atop the post and play the…

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Entrepreneurs understand the difference between respect and ego

Sometimes you can feel disrespected by your client. He takes calls during your meetings. He always keeps you waiting. He never returns your messages.Sometimes this behaviour is due to true lack of respect. Maybe your client has no consideration for your time or needs. Maybe your client simply doesn’t like you.Whatever the reason, life is…

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Entrepreneurs build longer runways

If startups are like planes then cash is runway. More cash = more runway.The secret to starting a business is having enough cash so that your plane can take-off before you run out of runway, and so that your plane can stay in the air…There are three factors that affect your runway: Savings Simple. The more…

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Entrepreneurs live a frugal life

  The secret to financial independence is low overheads. Low overheads are about being frugal.   In order to be frugal in business you must be frugal in life. Its just not possible to live in two worlds, ie: drive a Ferrari and drink Ricoffy at the office.   Being frugal doesn’t have to mean being a…

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Entrepreneurs are paranoid optimists

You can’t start a business unless you have a fundamentally positive view of the future. You have to be the kind of person who believes everything will turn out ok in the end.You must be the opposite of Malthusian.But you must also be paranoid.The only way everything will turn out ok in the end is…

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Entrepreneurs make mistakes

As life goes along we all make mistakes. No matter who you, king or serf, you will make mistakes.The only difference amongst people is how they deal with mistakes: Never admit the mistake Admit but don’t learn from mistake Admit and learn from mistakes The first category is reserved for people that have never had…

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Entrepreneurs don’t bail out their partners

Its natural to help the people you love. Kids, parents, siblings, friends… when you see them taking a hit the instinct is to step in and lend a hand.Don’t do it! That way lies failure. Bailing people out creates relationships of dependency. An unspoken contract is formed whereby the dependent knows that you’re going to save him no…

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Entrepreneurs feel uncomfortable all the time

When you have your own business its difficult to feel at ease.You know everything about the company, so you also know how many things can go wrong.It creates a low-grade stress that persists every day… Do I have enough cash for salaries? Is my most important customer happy? Are my staff working hard enough? Is…

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