Things first time entrepreneur should know

Are you the first time Entrepreneur? Are you plunging into the internet in search of the big idea?

Do you think about:

  • Why is Steve Jobs a legend?
  • What made Bill Gates an entrepreneur tycoon?

If these are the questions roaming in your mind, then you are just inches away from entering into your dream world of Entrepreneurs.


You trust your abilities but still you are scared. Isn’t it? You are full of energy and your mind is all set but still with an important question “How to become a successful Entrepreneur?”.

Well here are the basic ideas for that:

1. Failing to plan is planning to fail:

You get me right. Nothing can be achieved without a plan. No matter how much you trust your abilities and instincts, business without a plan will fall for first time entrepreneurs









Every single level, every single division of your company needs to have a plan.

  • Marketing
  • Finance
  • Advertisement
  • Sales
  • HR
  • etc.

You can even make a note of few lines on what is your plan, how will you achieve it and what should be the necessary steps for that. This will provide you a strong sense of direction.

This is very much helpful. If you are a few months into your new venture, you can look back can trace your path. You can look back and compare where you stand.

2. The Journey: Idea to Implementationtips-for-first-time-entrepreneurs

You have an idea, be it the best idea in the world. Still, they are just ideas.

Figments of your imagination…

Every entrepreneur should be ready for the journey. Starting from the idea to its implementation.


The journey is tough, still not an easy task, but possible.

There are many entrepreneurs who quit in the middle of the journey. Some of them even quit before the product ever saw the light of day.

Every good idea needs some time to take the shape of reality.

There is a wise saying:

“The journey of a thousand miles begins with a single step”.

But make sure that your journey of a thousand miles does not stretch to more. If this happens then you will lose interest and of corse, you will run out of money.

3. Your Comfort Zone is Your Biggest Enemy:


We all know that most of the first time entrepreneurs are from sales or from operations or from programming etc.

You can be very good at coding and can be an engineer good at your own field. But when it comes to starting your own venture, you will only have knowledge about your own field.

Dear friend, that will not at all be enough for your business to start.

What every entrepreneur do is that they don’t want to move out of their comfort zone. Most of us start ventures to follow our dream which ultimately puts us in your comfort zone.

You will be asked to do those things which you can’t even imagine.

But running a venture is totally different from what we think. The actual running of a venture is too much tough from imagination.

4. All That Glitter is Not Gold:









Dear if you start a venture to replicate another successful venture, it is “wrong reason”. It will not bloom as it would have for our own reason.

Copying someone’s tested formula is definitely risk-free as you will know all the details about what works, what didn’t and what will work. But you will put yourself at a disadvantage not to try your own and to copy other.

The best advantage of trying a tested formula is that you will be aware of SOP’s (standard operating procedures).

Even if you are planning to copy the existing one then i would recommend you to study the existing venture thoroughly.

5. Bootstrap and Then Raise Funds:

tips-for-first-time-entrepreneursMany of you are not aware of the word “Bootstrap”. “Bootstrapping” is starting up with minimal financial resources. It is very much essential in every step. You need to “Bootstrap” in every level of your venture.

But remember “Bootstrapping” is not easy but an important task. Also, you need to raise your venture funds in order to develop your venture.