Self-development: do you have it in you to make it big? There is no better person to judge yourself than you. At the end of the day you know your characteristics and personality traits. You need to ask yourself – do you want to run a business or are you more comfortable working under someone else? The answer to this question will give you a clear idea of where you stand. It is just but natural that you will have to struggle in the initial few years before the company makes it big. There are very few companies that click at the first go. Are you mentally prepared for it? Will you be able to handle the dejection, frustration and the roadblocks in your path to success? The answers that you get are very vital. Act accordingly.
Human Resources: No matter how many latest types of equipment you have got, until and unless you have the right set of people to run it there is no point in opting for these equipments. Human resource is one of the most vital aspects of any business house, especially when it is a small business. And managing the resource is the key to success. The person at the helm should have a clear and thorough understanding of how to use the human resource at his disposal so that one can get the most out of them.
Operations: how you run your business will make all the difference. Have you decided upon your strategy? Or do you plan to decide as and what happens? Ideally it is seen that it is good to have a basic structure that is flexible and can be improved as and when you progress!
Cash flow: from where do you plan to get all the financial assistance to run the business? Do you have enough savings that will help you sustain in the initial years? Think carefully. When you are planning your expenditures you need to take into account unforeseen events as well so that even if an emergency or crisis occurs you have enough cash to pull through and float.
Believe: and finally you got to believe! You have to believe that once you start the venture you will succeed. Positive thoughts go a long way in improving any dull situation. In addition to hard work, capital you also need self belief that no matter what you will achieve success in the long run. Depressed people have hardly ever achieved any success.
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