axiom: accepted truth, not scientifically proven
An axiom is an old saying that is accepted as truth, but isn’t necessarily proven scientifically. For example, “Haste makes waste,” means that if you speed while driving you may get a ticket and have to pay a large fine. In business this could be a warning to be thorough about your ideas and business ethic before you launch into a financial endeavor. Do the homework in regard to your product, your market, and the demographics. Study other businesses who have succeeded, as well as those who have failed. Take the time needed to find a mentor, a business development expert, and soak in his/her wisdom. Have a business plan with reasonable goals.
How about the saying, “Many hands make light work?” If possible, assess your abilities and passions and be reasonable about what you can’t or dislike doing. Find what your “frogs” are and hire someone to help you with them. My passion is to help entrepreneurs focus on their passion so they can be successful. I do this by enjoying what many consider a frog: the bookkeeping aspect of their business. To many, bookkeeping is total drudgery. This aspect of their business is usually put on the back burner for months on end. Many will “hire” a sister, brother, aunt, or cousin, to do the books for them, only to find that they don’t like it either and family dissension can occur. My advice is finding a non-family member to do those frogs for you and pay them. What you will find in this investment is less stress, more time for your passion and maybe, just maybe, more money in your bank account!
“Don’t count your chickens before they hatch” is true for chicken farmers as well as for all entrepreneurs. The wisdom of this saying is applicable in evaluating the financial aspect of your business. Be realistic about what you can live on, what you can afford to borrow and how to invest your profits. Don’t overextend your finances only to see your dreams crash. This happens on a daily basis with small businesses world-wide.
My favorite axiom is “Love what you do and you’ll never work a day in your life.” This is the heart of entrepreneurialism. Put this one in your business plan and watch your success!
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