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Opening a business is not the same thing as keeping a business open. There are two sides to every successful entrepreneurial activity: establishing a business and sustaining it. These two aspects of the functions of an entrepreneur are distinct and require different strategies, attitudes and orientations to accomplish. In other words, opening a business and keeping it open may sound alike or even tautological but there is a big gulf between the imports of both words. They are two sides of a coin that may look alike but actually have very little in common.
Those who have attempted to set up any kind of business may have discovered that certain steps are critical in the process of founding a company. Every successful start-up begins with somebody desiring to have a place in the driving position of an enterprise – somebody anxious to lead a team, achieve results and leave a legacy. Acquisition of knowledge in the field of business into which the entrepreneur intends to venture is a beginning point. On the other hand, to keep a business open, meaning to keep it running and successful, somebody is desirous to work very hard; usually with deferred gratification. These two activities demand different mindsets and aptitudes.
To open a business requires knowledge of the trade. The ideal take off point is to do some research into that area of business, with an eye on one’s own personality. To research into oneself is to cross check one’s capacity and character to follow through the business. The research is not only into the business but also into the founder. Otherwise, one may start a business only to discover he does not have the staying power or the mental and physical wherewithal to keep the business open. A lot … Read More...