Entrepreneurship is difficult. No matter how smart you are, how well you plan, or how hard you work, there is still lots of luck and timing involved. If you ever consider making the jump, here are some things to think about.

Money Matters - Lots of people will say you don’t need money to start a business. That’s true, for some businesses you don’t. But it helps… A LOT!…I’ve learned that more than anything else, money gets you a chance to play the startup game…

…Nobody cares that you are smart or knowledgeable (and you need to know if you really are) - Why not? Because everyone thinks they are smart and knowledgeable…You have to know what you are good at, what you aren’t good at but can learn, and what you will probably never be good at. I think this is a major reason businesses fail…

…Short-term thinking can kill your company…It’s even more true for startups. Sometimes you will accept a customer on which you will barely break even, just to get some money in the bank to meet payroll. All you do is push your problem off another month, in hopes you can find a solution, or that business picks up…

…Know how you make money. Ideas are great, and I’m all for doing cool things, but cash is still king. How do you get cash?

Your estimates are wrong - Yes, even your worst case estimates.

You aren’t your own boss - Your customers are way more demanding than any corporate boss could ever be…

You don’t have any free time - If you want to start a business for a certain lifestyle, save your money and buy your way into it. Otherwise, face the fact that it will be a long time before you can step away…At a corporate job, things can usually wait until tomorrow. At a startup, you are perpetually behind, so they can’t…

…Acknowledge your mistakes - A startup is no place for silly issues of pride. When you do something wrong, and you will, admit it and fix it…

Keep your integrity - It’s easy to be a good honest person when you have a steady paycheck. It’s much more tempting to let it slide when a customer overpays and you need the money for rent. You have to stay honest, as hard as it may be. Honest failure is more noble than dishonest winning.

Deal with the possible consequences - If you fail, what will you do next? Can you deal with starting over?…Come to terms with what will happen if you fail.

Read further on :  http://lorelle.wordpress.com/2006/01/18/get-rich-quick-go-freelance-successful-entrepreneur-not/

also

http://www.allfreelance.com/

Regards,

Karanbir Singh

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