Have you ever wanted to start your own business? Before you take the leap into entrepreneurship, read our list of 11 things every entrepreneur should know. 1. Don’t get ahead of yourself If business is going great, it may be tempting to want to reward yourself with a new car or a nice vacation. Don’t do it. If your business is your only source of income, you want to make sure you have a pretty good chunk of money saved up before you start spending it on “fun” things. 2. Monetize your free time When you start a business while you are working full-time, it can feel like you have no “free time” left. If you feel this way, take what you love to do and turn it into your business! This way you won’t feel like you are giving up your free time anymore, and instead you’ll be expanding it. 3. Surround yourself with other entrepreneurs. Find other entrepreneurs who have been in your same shoes before. These connections are perfect resources for you to learn from, and they can help you stay motivated! 4. Quit your day job as soon as possible is reasonable. It can be so tempting to jump in head first, quit your day job and hit the ground running with that new business idea of yours. This is a bad idea. It takes weeks, months, and even years to build up a business. If you have no income to rely on besides what you are making from your start-up, you will be in a bad spot. Stick around at your day job until you are making enough income to cover both business expenses and personal expenses. 5. Execute your ideas better Imagine this. You have an incredible, new idea for a product. You go to Google and find out dozens of other people already have this same idea. Don’t let this hold you back! When it comes to business ideas, the only thing that matters is how they are executed. Evaluate your competition and identify your competitive advantage. You don’t have to come up with a brand-new idea, you just have to find where you can do things better and more efficiently than others. 6. Don’t be afraid to stand out! When it comes to entrepreneurship, there is no one-size-fits-all approach for business success. The most successful entrepreneurs in the world have one thing in common: nothing. And this is why they are so successful! Be yourself, and don’t worry about fitting a mold. Being different is good. It is what will make you stand out from everyone else. 7. Find your brand and own it Differentiating your business purely by adjusting price or quality is going to make it impossible for your business to dominate in an already saturated market. Instead, focus on developing a great, genuine brand. A brand that your customers will trust and love. Have the kind of brand that will encourage people to keep coming back to you, instead of your competitors. 8. Get ready to work hard If you go into entrepreneurship expecting to work less than your day job, you’re going to be very disappointed. Sure, entrepreneurship may allow you a more flexible schedule, but that doesn’t mean you’ll work less. It means you’ll work more! Remember that entrepreneurship is hard work, and you need to be willing to accept that if you want to succeed. 9. If it feels like work, you’re doing it wrong You’ve probably heard the quote from Confucius, “Choose a job you love, and you will never have to work a day in your life”. As an entrepreneur, this couldn’t be truer. When you start a business, make sure you determine what you are passionate about and center your business around that. While it is still work, it shouldn’t “feel” like work or else you are doing something wrong. 10. Stop talking about it and just do it You can talk about your business ideas forever, but you will never accomplish anything or get anywhere with them unless you stop talking about it and just do it! 11. If you’re not scared, you’re doing it wrong Entrepreneurship is scary. It just is. Perhaps it’s a fear of the unknown or the fear that people won’t like your product or service. Whatever it is, it’s okay to be scared. Actually, you’re probably doing something wrong if you aren’t scared. The best way to be successful as an entrepreneur is to get out of your comfort zone and do something that terrifies you. We could talk all day about things you should know as an entrepreneur. This list just covers the bare essentials. If you want to learn even more, we recommend that you register for one of our events!

11 Things Every Entrepreneur Should Know

DJSF Coaching Entrepreneurship 0 Comments

Have you ever wanted to start your own business? Before you take the leap into entrepreneurship, read our list of 11 things every entrepreneur should know. 1. Don’t get ahead of yourself If business is going great, it may be tempting to want to reward yourself with a new car or a nice vacation. Don’t do it. If your business …

These are the biggest mistakes new entrepreneurs make. Learn how to avoid them, and you'll have a better chance of growing your business.

The 3 Biggest Mistakes New Entrepreneurs Make and How to Avoid Them

Daymond John's Success Formula Team Entrepreneurship 0 Comments

When I started FUBU, I didn’t have a lot of training or any special education to help me start a business. Basically, I had the drive and passion necessary to get things done, and I wasn’t afraid to fail while I was at it. And believe me, I definitely failed…more than once. You can learn from my mistakes and common …

Social media marketing is a constant process, and if you want to increase social media engagement you'll need to give your presence constant attention.

5 Daily Habits to Get More Social Media Engagement For Your Business

Joe Appleton Marketing 0 Comments

Social media marketing is still relatively new in the world of marketing and business growth. Even though it’s new, it may be the most important form of marketing and advertising that you do for your business. For very little money (or no money at all), you can reach thousands, or even millions, of people every day. Of course, to increase your …

A good balance between work that he loves and time with his family and friends is all that really matters. Here's how to achieve a good work-life balance.

5 Tips to Achieving a Good Work-Life Balance

DJSF Coaching Entrepreneurship 0 Comments

This surprises some people, but Daymond didn’t start FUBU so that he could become the CEO of a multimillion-dollar company. He started it so that he could afford to go on tour with his friends who were rappers and dancers. He did it because he wanted a work-life balance that let him play as hard as he worked, and he …

Every entrepreneur should make travel a priority, as traveling can provide many benefits and can teach skills that are crucial for success.

Why Every Entrepreneur Should Make Travel a Priority

DJSF Coaching Success 0 Comments

Many people tend to think of travel as an unnecessary activity. One that just uses up valuable time and money, and is better suited for retirees and fresh college grads. But, the fact of the matter is, travel plays an important role in becoming a more successful entrepreneur. Travel teaches valuable lessons and strengthens life skills that can directly impact …

We've gathered the top posts of 2017 on the Daymond John's Success Formula blog. Learn all about customer service, marketing, entrepreneurship and more!

Top Posts of 2017

DJSF Coaching Daymond John's Success Formula 0 Comments

We can’t believe 2017 is coming to a close in just a few short days. Thank you for making it another great year! To celebrate the end of 2017 and the beginning of 2018 we’ve gathered the most popular posts on our blog this year. We hope you enjoy reading them! 10. 5 Things You Need to Know Before Starting …

Adopting the powerful habit of smiling is one of the easiest ways to be successful in life. You'll feel more attractive and confident when you smile.

6 Reasons Why Smiling Will Make You More Successful

DJSF Coaching Success 0 Comments

We all seem to know that one person who is happy all of the time, no matter what life has thrown at them. So, how do they do it? Chances are, they’ve probably adopted one powerful habit: smiling. Did you know that smiling uses only 17 facial muscles, whereas frowning takes 43. Shouldn’t we all be smiling more? Smiling tends …

Don't quit your job just yet. Make money in your sleep by trying one of these 3 brilliant ways and you'll get your business up and running in no time.

5 Brilliant Ways to Make Money in Your Sleep

DJSF Coaching Entrepreneurship 0 Comments

Whenever I talk with people about the entrepreneurial lifestyle, I often hear them complain that they don’t have time to pursue their goals but they also can’t quit their jobs. It’s a cruel catch-22: you need time to start a business, but you need money to support yourself until your business is a success. You could quit your job to …