How to Manage your First 100 Days of Startups.

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The first day an entrepreneur commits his ideas to action is always the happiest day of every businesspersons’ life and the most daring day too. For some it is nervous breakings while for others the joy that moves a researcher from the state of discovery to the position of satisfaction sets him to his purpose. Your enthusiasm as an entrepreneur must be built on a solid base that beats financial gain to succeed. These qualities will aid entrepreneur to survive the challenges encountered during and after your 100 days of startups.

Passion versus money motive:

According to one of the great mind of our time, Napoleon Hill, “desire is the starting point of all achievement, not hope, not a wish, but a keen pulsating desire which transcends everything”. This is a fine but rare quality in contemporary entrepreneurs, little wonder why 98.23% of startups fail before they even make the journey. Nowadays thinkers do not learn the curve, they are hastened by the thought of making money, and becoming millionaires that they fail to learn the essentials. As it is with every living thing, businesses bid their time too and the technician will have to wait for the entire duration the idea breaks-even. At the stage when your idea isn’t generating as much money as you envisaged, your resolve will be tested and at that point it becomes obvious what feeds your enthusiasm, passion or money figure?

Passion sustains every business beyond where money can ever reach during profit lagging season, it serves as a massive motivator on his own and rubs off on the ego of classic entrepreneurs to keep them going while they waiting for better days to come.

Entrepreneurs Perseverance:

Doggedness shown by seasoned enterprisers has proven that the success of your business is pinned greatly on determination and consistency. At the commencement of business, you actually feel it is quite simple, and it is as easy as riding a bike while in third grade, up until you hit a snag with the bike and that feeling of contentment goes away for some self-reassessment: am I really cut out for such hassling and massive challenge? At that very point is when you have to believe in your capability to achieve, and never entertain any doubt. It is acceptable if you consider advices or modeling your business in closeness to similar accomplished businesses without losing sight of what makes you unique.

The first 100 days of entrepreneurs’ startups is always the survival period of the business and so many things that were drawn up in the business plan no longer fit the situation. Entrepreneurship are not really for the faint-hearted, many will give up but if Adolf Hitler propagandist can say that “if you continue to say a word a thousand time people will start believing it to be truth” it means one thing, that persistent will certainly pay-off as long as you have the right conviction that you are certainly doing the right thing.

Team:

A cooperative unit of similar mind is like everything to succeed a business especially if they share in the general objective of your business. At the middle of the whole swamp your team could be the magnet that attracts you back, to focus on the main goal. Each member of your team should be able to complement you in one way or another specifically where you lack. Ensure to have this three basic but essentials qualities in your team; work ethics, philosophy and professionalism. At this stage of your business you would want every member of your team to maintain discipline and focus. However, the philosophy of the team have to be streamlined, you cannot afford any member of the team second guessing every decision you make! An entrepreneur must not shy away from making tough decision, including letting a team member go if he is dragging along.

Monitoring & Evaluation:

Monitoring and Evaluation are two related but distinct functions in business execution. Both monitoring and control are possible at every stage of the business cycle. Monitoring and control introduces the means by which it is possible to identify bottlenecks and find ways to eradicate. In addition, funds and materials have to be made available at the appropriate times and the overall timetable has to be adhered to as closely as possible.

The evaluation for every entrepreneur should be base on the three basic form of evaluating a business: ongoing, terminal and impact evaluation. Ongoing should be done periodically, while, terminal evaluation carried out at the completion of the business and for the impact evaluation should be carried out at the first year after commencement.

Backdown:

Entrepreneurs are clever people and based on that you must realize that there is no shame in letting a business idea go. If there is any chance after commencement that the business would fail of course after careful analysis, there is no need trying to save a sinking ship. However, you must ensure that every detail that made it flop is well documented and served as a business school for other future businesses.

 

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