Another Entrepreneurship Project of the  Whitman School of Management at Syracuse University

Startup Tips from a Billionaire Entrepreneur

As entrepreneurs, we are always looking for words of wisdom from people who are successful and have overcome challenges and hardships to become so. We do this because we relate to the struggles and hardships that they’ve faced. Richard Branson, CEO of the Virgin Group, brings forth five most important tips for the new generation entrepreneurs. In an article on Virgin.com, Branson outlines the following tips for success.

  • Get the business model right: Find a market that is “ripe for disruption” so that your product stands out among competitors. Planning up front and having a sound business model helps you to achieve these challenges.
  • Trust your instincts: It is important to believe your gut and follow your instincts. There might be people who will disagree with you, but follow your gut because you are the best person to defend your decision.
  • It’s down to you: Think like a boss and delegate work. Have the conviction in yourself to take on responsibilities for others. If there aren’t enough days in a week, work smarter (not longer).
  • Believe in what you do: A display of self-confidence is important, but not over-confidence. Believing in yourself will take you father than you had imagined.
  • Give it a go: Just do it. Those three words make all the difference in the world and help you make quicker and rational decisions. Besides that, it is also the best way of learning.

Use these tips to fuel the desire of being an entrepreneur within you! And if you have you own tips for success, share them here! For the full story, read: http://www.virgin.com/richard-branson/5-tips-for-a-new-generation-of-entrepreneurs.

Thanks for reading and until next time… stay WISE!

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