1) Start as early as you can - Early and well begun is a sign of a good start. It should be a well thought of and well planned execution of idea. Do not start off in a hurry. Messing up in the initial stage can be detrimental for the future of the business. Take effective, profound steps in the beginning. These steps may be as small as getting the blueprints of the idea, but they hold a lot of importance in the later stages.
2) Fail, and learn from it - It is always advisable to be innovative. Try out new things, implement new ideas. Do not be afraid of the outcomes at an early stage. Even if the results are not as you deemed them to be, cherish the mistake or failure as a valuable lesson that you learnt early and cheap. You will have learnt a way that doesn't work out, even that is a great deal of knowledge.
Failure should not be disheartening.
3) Leverage Cutting Edge Tech - The previous generations did not have this advantage, the present generation has the scope of learning, connecting and sharing knowledge and ideas with people across the globe with the blink of an eye. Now, there is no absolute limit to what you can do. The young minds must focus on exploring the unexplored vistas and eventually achieve greater heights.
4) Don’t Worry About Having Experience, Just Get It - Make your own squad. Gone are the days when experience was of more importance than knowledge. It is the era when a team of youngsters, with practically no experience, can soar higher and achieve the unbelievable just with the help of appropriate and efficient use of technology. All you have to do is to form a trustworthy and well-educated team, with experts of different fields.
5) Read - a lot - Reading is one of the best methods to learn and also enhance your scope of information gathering. Do not miss out on reading about the latest updates or developments in the field of your interest. Reading should not be confined only to your scope of work, instead it also is a wonderful means to relax your mind after a hectic work schedule. Thus, inculcating a regular habit is a must for an person wanting to be an entrepreneur.
6) Commit to a Plan - Do not dream irrationally. Dream high, but practically. Learn from other's experiences as well. Formulate a plan that gives outputs that are needed at the initial stages. The plan should fit well as per the available human resources, as well as the capital available at your disposal. A strong foundation is a must for a high-rise, hence, it is of utmost importance that the beginning stages are well planned.
7) Execute - Startups are all about proper execution of plans. There is no dearth of ideas, the implementation of plans is what makes all the difference. The actual success and failure depends only upon the way you present and realise your ideas into reality. The projects should be planned in such a way that whether you get the desired results from the previous action that was implemented or not, you have a reliable and viable step to be implemented next and this next step should be able to make up for the previous losses.
8) Welcome change - Changes are inevitable and they should be welcomed. In some cases, failure of plan is inevitable, but in all cases, you must have a plan B as backup, so as to minimise your losses and also to prevent high chances of failure. This also helps in putting up a stronger comeback after the small setback. You should be prepared for all situations, failure as well as success, and also the follow-up plan for both.
9) Manage Your - Time management skills are very essential while grooming yourself into a future entrepreneur. Prioritisation of tasks at hand is important. IF you waste your time on not so valuable tasks, or even spend too much time on any one, however important it may be, you tend to lose your own efficiency. The entrepreneurs are quick decision-makers and efficient time managers. Multitasking reduces efficiency, you should adopt taking up tasks consecutively.
10) Take Care of Yourself - An entrepreneur has no working hours and immense amount of work, thus he must be one of a healthy mind and a healthy body. Proper meals and sleep play a vital role in ensuring a good performance and also a cluster free mind. Regular exercise and a fit body are also a must. A good health ensures better efficiency and better performance at work. It also enables you to endure greater work pressure and mental challenges.
11) Persist - Procrastination is one of the deadliest vices that can lead to the downfall of an entrepreneur. Train yourself to work hard and to give your 100% under all circumstances. An entrepreneur is one who is not only able to work under pressure but also able to keep his team motivated so that even they are able to give their best to the business. Staying focused on the goals without being deterred by the failures and change of fate, is the quality of an able entrepreneur.