ENTREPRENEURSHIP CAN BE YOUR TICKET TO FREEDOM by lillian lambert

ENTREPRENEURSHIP CAN BE YOUR TICKET TO FREEDOM
by lillian lambert

For more than thirty years, I have been an entrepreneur. I thoroughly enjoy that role with all of its challenges: the people problems, financial concerns, growing and managing the company and many others. I find the rewards well worth the challenges. It is one of the best ways to build wealth. Because there are so many challenges, entrepreneurs sometimes find it difficulty to do everything that needs to be done. This is my perspective on things that definitely need your attention even as you grow and face the challenges that await you.

1. Learn everything you can about your industry, particularly the financials. The years I spent working in my industry gave me valuable experience that was useful when I started my own company. I learned things that I should do as well as things I should not do. 2. Develop good people skills: treat everyone with respect no matter what their position is in an organization. Frequently the administrative assistant has all the power and can help you the most. 3. Stay close to your customers. 4. Establish and maintain a good banking relationship. Interview your banker and be sure the bank is there for you in good and bad times. 5. Maintain impeccable credit, both personal and business. 6. Operate every day as if your company is for sale. 7. Develop an investment portfolio outside of your company. 8. Live within your means, better yet, live below your means. 9. Develop a succession plan. 10. Know thyself: know when it's time to let go and move on. 11. Maintain proper balance between work and family, take care of yourself and have fun.

If you are an entrepreneur, you have probably dealt with the doubting Thomases- those who tell you it can't be done or you can't do it. If your business is new and you have not encountered them, you will. Be sure you have done your homework and are strong in your conviction. There are numerous dream killers. Don't be one of their victims. DON'T LET ANYONE STEAL YOUR DREAM. FOLLOW YOUR HEART, DREAM BIG, AND ACT NOW.

About the Author

For 25 years, Lillian Lincoln Lambert was President and CEO of Centennial One, Inc., She was the first African American MBA graduate of Harvard University. Get a copy of her FREE Guiding Principles http://www.lilliamlincolnlambert.com/blog Learn more http://lillianlincolnlambert.com