Business

Go for your passion.

  It was surprising to hear from a practical financial advisor, but this tip made sense when Lundgreen explained further. “If you don’t like [your business], it won’t succeed.” He gives an example: if you do not enjoy interacting with people, then don’t put up a business that forces you to constantly deal with clients. …

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Business

Check if you have these traits.

Lundgreen listed some important traits that entrepreneurs should have. These include being “willing to work for many hours,” being good at motivating people and being service-oriented. Those new to business should also be ready for “higher mental pressure” that running an entire operation will require.  

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Business

Have realistic expectations.

While having your own business gives you a level of freedom you wouldn’t have if you are employed, it comes with higher pressure. “Be ready to have no income,” he says. “The bills for a start-up tends to come bigger and faster than expected, while the income tends to be later on.” One needs to …

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Business

Get support by growing your network.

He says growing your network is very important to find your way into the specific industry you want to enter. Through this, you can find “business angels” that can help finance your venture and also give you advice. While borrowing from family or friends is how people usually get a business started, he also prescribes …

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