Happy New Year 2012!.
I’ve had a great weekend at Guangzhou, China. This was my 1st time there and I can’t believe that China products are SUPER CHEAP! The price there is at least 20-40% lower than Malaysia products and I love their street markets because you can get almost everything there.
I went there for only for a day and while I was walking on the streets of Guangzhou, it crossed my mind that I can actually bulk buy some products from China at a really low price and resell it in Malaysia through the Internet at market price .Imagine the HUGE profits I could make! I was so tempted with that idea and I started to negotiate with some of the locals for a really ridiculous price so that I could quickly start my small business here in Malaysia.
But my friends stopped me and asked me to think real carefully and thoroughly before getting it. They said I was acting on impulse, and I needed to do more research. So, I came back to Malaysia empty handed except for some souvenirs for my family.
I searched the Internet again to learn how to avoid some of the mistakes done by young entrepreneur like myself.
And this is what I’ve got off the Internet. Most young entrepreneurs always act first before preparing themselves. They are driven by their dreams to be their own boss and keep all those profits to themselves. So these are the 5 mistakes & things to consider before starting your businesses:
1. No Clear Mission
One very deadly mistake common among young entrepreneurs is the lack of perception. Many young entrepreneurs venture into business without giving any thought on its implications, they don’t know what they want to achieve and they don’t know what it takes to achieve it.
2. Lack of Focus
This particular mistake is a killer and has destroyed the future of many young entrepreneurs. Every now and then young entrepreneurs start so many businesses without waiting for one to succeed.
3. Not Listening
Another very deadly mistake young entrepreneurs make is that they don’t listen, they just keep talking and talking and talking, little do they know that this kills rather than build them.
4. Greed
This deadly mistake has claimed the life of so many businesses. Many young entrepreneurs are so greedy that they venture into business only because of the money, it is these type of people who won’t do proper research before starting their business, it is also these type of people who will sell their startups at a very small stage.
5. No Business Plan
Lack of business plan is another deadly mistake young entrepreneurs make, they start their business and do things how they want, failing to realize that this isn’t the best way to go about a business.
After reading all these, I realized then that I was actually about to do all of the above mistakes! Luckily my friend stopped me. Now, I am all set to get my focus right and my business plan in place.
But how about yourself? If you have already started on your businesses, would you care to share some of the mistakes that budding entrepreneurs like myself can learn from? Or if you are just like me, eager to start out on your own, I’m sure you have some questions that need some answers. Would you like to share those questions so that I can help you get the answers?
Let’s keep in touch. And I’ll try to get some expert advice from entrepreneurs on how to start and grow a business!
Towards a better new year & great business tips, cheers!
Tissue King 
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