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Guidelines for the 2009 Class of Entrepreneurs

Written by: Brian Moran

Article Overview: Random thoughts on life and entrepreneurship.

Guidelines for the 2009 Class of Entrepreneurs

Let me guess. The large company that you worked for recently had its latest round of layoffs and your number was finally called. Or, you may have been one of the fortunate ones who took an early retirement package. But now you realize that you’re too young and have too many good ideas to retire.

Other guesses–you’re a recent college graduate who’d like to control your own destiny or maybe a stay-at-home mom who wants to take a good idea that you’ve had for almost a dozen years and turn it into an actual business.

Whatever you are and however you got to this blog, welcome. You are part of the 2009 Rookie Class of Entrepreneurs! When history looks back at this time, it will highlight some of your most innovative ideas as groundbreaking. Your class could very well produce the next Bill Gates, Thomas Edison, Mary Kay Ash or Mark Zuckerberg. All you need is a solid business plan, some luck, stamina and unending determination to get up off the floor every time you get knocked down.

As a recent graduate from the class of 2002, let me share with you some things I learned along the way:

1) A Sense of Security - One of the biggest fears you will have is that of security, or the lack thereof. In your old job, there was someone else who paid the bills for rent, light and heat. You needed only to focus on your small part of the bigger picture without having to worry about the bigger picture itself. I remember telling my mother how nervous I was about starting my own business. After all, I had a family of six to support and a big mortgage too.

She said to me, “the only security you will ever need is between your ears.” I know this will be hard for you to remember when times get tough, but in the seven years I’ve had my doors open, that is the single best piece of advice I ever got.

2) Learning to Lead By Example – As someone now in charge of the big picture, you will ask many people during the course of the work week to run through walls in the name of your company. Stay late, work harder, log more miles. If you want to maintain morale and the respect of the people working for you, there will be times when you need to be the first person through the wall.

3) Listen More than You Speak – Too often, business owners offer solutions to problems that they don’t completely understand because they haven’t taken the time to listen. Remember this rule - We don’t learn when we speak to our customers or our employees. We learn when we listen to them.

4) Maintain Focus –The key to success is maintaining focus. Do not allow distractions to take your eye off the prize. In a 24/7 world filled with more and more ways to constantly stay connected, you must remember your goals. Set a goal; achieve a goal. Set more goals; achieve more goals. The goals are your end. Everything else is a “means to that end.”

5) Be Fair – In 2009, It’s easy to use the economy and hard times as a crutch for short-changing customers and employees. Don’t do it. If you go the extra mile for people today, you will be rewarded ten-fold in the long-term.

6) Live a Balanced Life – As new business owners, you will always have one more call to make or one more report to read. But, you also need to re-charge your batteries. It’s a long road to the top of your mountain. Don’t break down before you get to the finish line!

7) Give Back – It is in these difficult times that we all must remember to be thankful for what we have and pledge to give back. Whether it’s to a local school, a community food bank or volunteering to be a big brother or sister, we need to think of those who might benefit from our time, energy and experience. You will find that giving back is what completes you as an entrepreneur. If not for the generosity of others, would you be in your position today? Ok–now pay it forward.

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Article Tags: big mortgage, bill gates, class of 2002, college graduate, early retirement, fortunate ones, innovative ideas, layoffs, mary kay ash, old job, own destiny, piece of advice, retirement package, rookie class, sense of security, stamina, starting my own business, stay at home, stay at home mom, thomas edison



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