I was born with entrepreneurial tendencies but I didn’t become an entrepreneur until I was 33 years old. Nothing has taught me more about myself than starting a business. Here are my tips for entrepreneurs and all women in business.
1. Get connected and stay connected. Meet as many people in the process of your life as you can but know that a meeting may not lead to something until years later. Once you get connected – stay in touch.
2. Calculated risks can be good ones. It’s all the old adages you’ve heard of: Nothing to Fear but Fear itself, Nothing ventured nothing gained. They’re old for a reason: they’re true.
3. Don’t spend time or money on the things that matter least to your business but can cost your business the most. Don’t overspend on fancy office leases. If you control your operating expenses you will give yourself time to grow.
4. Trust your gut. Your gut is sending you little messages all day long and with every interaction. The skill is learning first how to access those messages and second how to listen to them. You know the most about yourself. Don’t let anybody tell you any differently. You know the answer.
5. Save money. By always staying within my means, not incurring credit card debt and saving, I was able to take a big risk – starting my own business.
6. Little deposits, big rewards. Put good things out in the world and when your turn comes, they will come back to you.
7. Be passionate about what you choose to do. When you start your own business, you will live, eat, breathe what you build so you had better be passionate about it or you’ll be sick of it before you know it.
8. It’s a big leap from idea to execution. Starting your own business can make you very paranoid, but rest assured that very few people actually take the leap and start their own businesses.
9. Get Yours. There’s the temptation to put everything you have into the business you’ve created, but you can never forget to take care of yourself first.
10. Knowledge is knowing where to find it. It’s your job as an entrepreneur to figure out things or find the person who can help you figure it out. You will find your way as long as you remember that you don’t have to know it all.
This article appeared on The New Latina Guide to a Fabulous 2011 Year!, a collection of insights and tips from a group of talented Latinas (and one Latino) on how to live life to the fullest.
Alicia Morga is the founder of a new mobile application, www.GottaFeeling.com. She was the founder and CEO of Consorte Media, a digital media and marketing company focused on the Hispanic market and funded by leading Silicon Valley venture capital funds, The Mayfield Fund and Sutter Hill Ventures. In 2009 Alicia was named one of the Most Influential Women in Technology by Fast Company. She has a popular website, www.AliciaMorga.com and is also a top ranked expert blogger in Leadership for Fast Company.com. She has been profiled in Inc. Magazine and was named one of the country’s top 20 under 40 by Poder Magazine. Alicia holds a J.D. from Stanford Law School and a B.A. from Stanford University.
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