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Ten things budding entrepreneurs should know

Ten things budding entrepreneurs should know

Posted on: October 13, 2015 | Author: ATB Business & Agriculture

It takes more than a great idea to be an entrepreneur. It takes work, patience, determination, and sometimes even a little bit of luck.

When we asked entrepreneurs what they wished they knew before they started their businesses, we got a lot of interesting answers. But there were certainly common themes. We pulled them into a list for you, in case you're thinking of turning your great idea into a reality.

  1. Passion

    Find something that you are really passionate about. When you love what you do, it doesn’t feel like work.
  2. Be prepared to work hard

    Few people realize how much hard work and sacrifice goes into running a business. The good news is, the entrepreneurs we interviewed agree that it’s all worth it.
  3. People

    Finding the right people to join you on your journey is key. Not only will they support your dream, you'll have the opportunity to tap into their expertise and learn from them.
  4. Stay positive

    In every new business there will be some really challenging moments, but there is light at the end of the tunnel.
  5. Ask questions

    The more you know, the better off you’ll be. Don’t be afraid to ask questions. There’s a lot you can learn from your staff, your peers and your banker. The more you know, the better off you’ll be.
  6. Mistakes happen

    Embrace your mess ups. They are opportunities for you to learn. Just try not to make the same mistake twice.
  7. Credit

    Understand that debt is not a bad thing. You can learn how to use credit wisely to start and grow your business.
  8. Take the leap

    If you think you have a great idea, research the heck out of it. Do your due diligence, take the leap, and believe in yourself.
  9. It’s a journey, enjoy it

    Starting and growing a business is a great experience. There will be ups and downs, so remember to enjoy the ride.
  10. Cherish your time with family and friends

    You likely won’t have as much of it as you used to, so make the most of it.

Hear more from Alberta entrepreneurs in our We Grow Alberta videos.

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