Starting a new business has never been easy. In my early twenties, I tried venturing into a lot of businesses as I have always loved to own my own successful business. I tried a couple of businesses and failed in most with little success in some during a space of four years.

I was lucky as I was not indebted to anybody. That gave me peace of mind and also made me want to reconsider being an entrepreneur. But on the other hand, I had to check myself if I had done it right, I had to go back to ask questions both to me and some relevant authorities in the industry.

First, I asked myself one big question; WHAT DO I REALLY WANT?

Jumping from one business to another can never make you successful. It is said that “Jack of all trade is master of none”

I will be listing some lessons I learnt after examining myself and also from some successful entrepreneurs like Robert Kiyosaki, Richard Branson and Innocent Chukwuma of Innoson Group of Companies.

10 Startup Lessons for Young Entrepreneurs. (9 and 10 most important if you must succeed in your business)

1. KNOW WHAT YOU WANT

If you are a “Jack of all trades” you will find it difficult being a master in one business. You need to concentrate on building and promoting a business. Do not start a business because you heard it bring high returns, venture into a business you love and have background information on, study the business carefully, build an energy around the business, acquire more skill on the business, apply your own ideas, bring in experts that will help you grow the business. No life ever grows great until it is focused.
Here are some questions you must ask yourself before starting: What do I want? What must I do to have it? Where can I get the necessary skill? How would I feel when I have it?

The more you know what you want, the less you lose focus.

2. DON’T EXPECT TO START PERFECTLY

Procrastination is the killer of dreams. Do not expect to have enough money or investors before you can start that new business. You can start very little, what matters is your dream for the business. You can only stop growing when you stop dreaming higher. Do not be content with where you are per time, always aim for the top while you gradually take the steps.

Do not despise the days of small beginning.

3. HAVE YOUR CUSTOMERS AT THE BACK OF YOUR MIND

Every business is set up not for the owner but for the people. Whatever business you plan to venture into, have your intending customer’s interest at the back of your mind. If your service/product is good, you will have not only return customers but referral customers too. Your satisfied customers will be part of your media team. LOL. Funny but it’s the truth. But in the reverse case, you can only see a dissatisfied customer once. If possible, when starting that business, conduct a survey on what the people want.

“A bad product can only be sold to a wise unsuspecting customer once”

4. INTEGRITY MATTERS

Integrity is regarded by many people as the honesty and truthfulness or accuracy of one’s actions. It is the concept of consistency of actions, values, methods, measures, principles, and morals. You must be truthful and upright when dealing with your subordinates, customers and investors. This act of honesty can help sustain your business even after you are gone. Don’t create barriers that can stop your journey to success by being greedy.

“Integrity is needed by every man to excel. If one is not upright with a given skill, that skill will not only be killed but have the capacity to kill the bearer”

Special Bonus: Principles of Financial Prosperity

5. SUCCESS IS A GRADUAL PROCESS

If you want to stay on top, climb, if you want to fall from the top, jump. You must do what is required to acquire what is desired. Do not rush success. It takes the demands of discipline and diligent to be successful. Take your success journey one day at a time, be focused on your defined goal and be determined to attain your goal and you will definitely get there. Stop jumping up, just grow up. No one ever arrived at a future that he has not seen.

“On your way to success, if you don’t suffer the pains of discipline, you will suffer the pain of defeat”

6. LEARN HOW TO MARKET

If you cannot market your product, you are not going to succeed as an entrepreneur. As a matter of fact, I think marketing should be... Read up at http://www.thetotalentrepreneurs.com/startup-lessons-entrepreneurs/

Remember: Lessons 9 and 10 are the most important