GoKawiilOpinions expressed by Entrepreneur contributors are their own.
Key Takeaways Don’t repeat your mistakes.
Get as much free or “earned” press and public relations as possible.
Hire a coach or mentor as soon as you can.
After almost two decades of being an entrepreneur and running a successful transcription company, I’ve learned several valuable lessons. Included in those “teaching moments” are a handful of mistakes. I once heard them described as “do-overs, mulligans.”
It’s often said that wisdom is reserved only for the most experienced. While that statement is true, there is no reason for young or inexperienced entrepreneurs to waste valuable time when more experienced business leaders are willing to share their insights and knowledge.
I was fortunate to grow up around many entrepreneurs. I had a front row seat to numerous successful and profitable ventures. I also witnessed several failures that resulted not only in financial losses but also in fraud and deceit.
While my attention remained focused on the strategies used to create and manage a profitable enterprise, I wish I had paid more attention to when a company’s strategy didn’t work or why choosing the wrong partners can produce disastrous results. Time is our most valuable asset. Below are my suggestions, which I believe will help young or beginning entrepreneurs.
Don’t repeat your mistakes
My first piece of advice is obvious. Don’t keep repeating the same mistakes. It sounds simplistic and trivial. However, I watch young or new entrepreneurs make the same mistakes, not once, but sometimes multiple times.
... continue reading