Your Startup Should be the Top Idea in Your Mind

Modern life in the 21st century is rich with many possible experiences but it is also very demanding. There is so much to do, so much to take care of and so much to achieve. There is a Russian proverb which goes like “If you chase two rabbits, you will not catch either one.” You have to focus on one thing at a time. There can be only one thing that occupies your mind at any given point in time. Paul Graham calls it, the top idea in your mind. What you think about most of the time will have …

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Stay at the Edge of Sanity and Hold on to that Dream

If as an entrepreneur, you think you have bigger problems in your life than making your startup succeed, then you are not prioritizing your startup enough to succeed as an entrepreneur. I personally do not know anyone or have heard of people who succeeded as entrepreneurs by giving second priority to their startup venture. You have to prioritize your startup’s success above everything else in your life. When I say that, it doesn’t mean that you have to prioritize it at the cost of other areas of your life. Never give up health or relationships for the success of your …

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Pay Your Consultants and Professionals Well

As an entrepreneur, there are certain things you can’t do yourself. Though you might try to understand it, you might not be able to master it. Many professional verticals require years of learning and experience to achieve mastery level. In my business, I understand design and copywriting to some extent, but I am not a master at it. And as long as I can have consultants and professionals help me in areas that I am not strong at, I don’t need to master it. I don’t mind mastering other subjects, but there is an opportunity cost. I will be taking …

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Be a Great Bookkeeper

Bookkeeping is a hard habit. Even if you get into that habit, it is easy to fall out of that habit. Humans have a tricky relationship with the concept of money. If the topic of money makes you emotional or makes you uncomfortable, then you have to overcome that to succeed as an entrepreneur. Most entrepreneurs at the early stages of their startup will not have a financial team looking after their transactions. Startup founders have to do bookkeeping themselves. Though for small businesses bookkeeping is not mandated by law, accurate bookkeeping helps you see clearly where you are financially …

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You Don’t Need a New Idea to Start a Business

Many people who want to start the entrepreneurship journey get stuck at a point where they think that they need a brand new idea to start a business. Good ideas are important, but not mandatory to start a business. Most of the time, we see startups with new ideas being highlighted in the media. Media loves stories of how a simple idea changed everything and such stories have a lot of demand in the market. It installs hope in people that they can also start something – if they just had the right idea. To be honest, having good ideas …

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