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7 essential tips for new entrepreneurs

  • Published at 02:02 pm December 18th, 2016
7 essential tips for new entrepreneurs
With a start-up culture growing in Bangladesh, so many sessions and seminars are taking places each day at different places. With an initiative from Alliance for Fair Competition, Dhaka University IT Society recently organised a “Digital Startup” seminar at the Nabab Nawab Ali Chowdhury Senate Hall. The renowned entrepreneurs talked about various aspects and tips for the new ones. The seminar took part in two sessions. The first session involved experience sharing between 20 entrepreneurs of the country. They talked about their experience in the sector and gave suggestions and advice on building up start-ups and new businesses. In the second phase of the seminars, Tech leaders of the country talked about the future challenges and different start-up regulations. Here are 7 most crucial points discussed by the experts in the Digital Startup seminar.

Plan long term and be ready for uncertainty

To start a business, you need to be very persistent. You need to have a long-term plan and a relentless mindset. You need to be ready for any sort of uncertainty that comes in your way. Success will depend on how you prepare yourself for the long term goals of the business. Stepping back isn’t an option for the entrepreneurs.

Hard work is the key

Success won’t just come your way as you start your new business. The prime factor for your success is working hard for the business. You need to give lots of time and efforts and then you will get your desired success.

Education is important

The speakers put great emphasis on education. They exhorted the upcoming entrepreneurs to educate themselves. Some of them also said it is not possible to become successful without education. They advised the entrepreneurs to think wisely and use their intelligence.

Have advisers for businesses

The speakers advised the new entrepreneurs to have advisers for the businesses. Advisers can help or give wise counsel during any problem. But you need to decide sensibly whom to take on as the business adviser. Choose someone who you can trust and has experience in the sector. Whether it is a family member or friend or any expert, make sure you are compatible and share the same mindset.

Experience matters

Most of the speakers at the seminar talked about the experience of the new entrepreneurs. They suggested that entrepreneurs should gain experience before forming their own start-up. It is a good idea to work in companies prior to starting a business.

Legal papers for your business

This is a very crucial issue for the start-ups. Most start-ups start their business without proper knowledge of the legal framework. If you are finding difficulty to understand and work on the legal papers, hire expert or lawyer for your business. You do not want trouble for your business in the legal framework.

Skilled human resource

Last but not the least make sure to have skilled human resource for your business. They can take your business to the next level. You need to hire the right and motivated person. Look for their needs and show your passion for the business.

Article reprinted under special arrangement with SDAsia.com

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