Do Not Rush to Make a Partnership
Just because someone is your best friend or longtime coworker or otherwise, that does not qualify him as an ideal candidate to run the business with you. He may be enthusiastic about establishing or starting the company but may not be able to deal with the reality that the company must be run efficiently.
Do Not Get Discouraged
Running a company is a long road. You will have doubts, and you will have falling profits. You will win perfect clients and lose others for all sorts of reasons. This is all part of the job. All businessmen who have reached the stage of stability have surpassed disappointment and suspicion. Instead of getting frustrated, focus on becoming more resilient and also on learning to cope with stress.
Do Not Try to Do Everything On Your Own
When an entrepreneur starts his company with a small capital that is barely enough to cover the costs of incorporation, he tries to do everything on his own to reduce expenses. It takes precious time and a lot of energy that can go into helping the business grow. When a businessman collaborates with another man, costs and expenses will increase, but he will be able to begin to focus on doing the work better as well as making time to develop the business.
Never Stop Growing and Developing Your Business
The world is changing quickly everyday. Your company is likely to experience a paradigm shift at some point, be it minor or massive. As a small business, you are at a disadvantage, because your resources are very limited. But you have an invaluable advantage, which is the ability to change course and adapt much faster than large companies. Keep your eyes open to changes and your thinking receptive to new ideas.