Eric Dalius throws light on Key Start-Up Considerations for First-Time Entrepreneurs

When it comes to startups, most entrepreneurs behind them had professional experience in the past. However, just because they were good employees does not mean they will be equally outstanding employers. There is a difference between the employer mindset and the employee mindset. First-time business owners of start-ups must know this difference if they plan to head a lucrative venture in the future.

Employer mindset versus the employee mindset – Eric Dalius-

Eric Daliussays that the employer and the employee have different skill sets. When you have made this switch to an employer, you should remember the following points-

1. The cash will stop at you. You are the only one responsible for the direction that your organization will take.

• You need to discover ways to motivate your employees in the business. No two individuals are the same, and you must be ready to take two different actions for motivating diverse people in your company. If you fail to find the right way to motivate your employees, it will fall again on your shoulders. There will be no one else present to motivate your employees for you.

Step out of the comfort zone

He says that when you are an employer, you step out of your comfort zone. There are issues that you should deal with daily and quite frequently. If you are not equipped with the right skills to deal with them, they will escalate into bigger problems. This can be detrimental to the future progress of your company. You do not have to feel nervous about the prospect. Everyone who has been a first-time entrepreneur of a start-up has faced it at some point of time or the other. Give yourself some time and experience; it surely will get better.

Costs and opportunities are invaluable

As a first-time entrepreneur, you must remember that costs and opportunities last for some time only. When you establish a start-up, some opportunities are fickle and fleeting. They depend upon you and your company. You need to take that much you are capable of. Again, you should be prudent to grab opportunities while they exist. If you miss them, they might not come back again even if you are ready.

Opinions versus assumptions

The first few years of your start-up is very crucial. It might take some time, but you should jump into the ocean and learn how to swim if you want your startup to become a successful business venture. You should also never allow your opinions to cloud assumptions. When you begin with your business, it is natural that you will assume that the company will take a certain course in the future. However, most of the time, it might not happen that way.

You need to be alert and responsive to the ongoing trends in the market. At the same time, you must know what your customers want and think about your product/service. These are the true indicators of your business and will steer it forward with success.