Global Entrepreneurship Week: 5 Tips For Aspiring Entrepreneurs

We live in a business-oriented society. From buying groceries to traveling internationally, we rely heavily on local, national, and international businesses for many aspects of our lives. We have become so accustomed to using these businesses in our day-to-day lives that we now take many of them for granted. No matter how big a corporation is, it's important to realize that every business started out small at some point in time. Every business - even those with thousands of employees - originally began simply as an idea in the mind of one forward-thinking individual.

Global Entrepreneurship Week USA

We owe entrepreneurs a great debt of gratitude for the roles they have played in shaping our society, our culture, and our nation. Next week (November 14-20, 2016) is designated as Global Entrepreneurship Week USA in recognition of the importance of these forward-thinking individuals. In honor of this important week-long observance, our business attorneys in Camdenton MO are dedicating this week's blog to a few important suggestions for aspiring business owners. If you are dreaming of starting your own company at the Lake of the Ozarks, take a few moments to familiarize yourself with these helpful tips.

Quick Tips For Entrepreneurs

1. Write Down Every Idea You Have.
When in the planning stages of your new business, life is like a continuous brainstorming session - no matter what you are doing, you're constantly thinking through different possibilities and weighing pros and cons in the back of your mind. Any time you come up with a potentially good idea, write it down in an "idea journal." As time goes on, this journal will become a valuable resource.

2. Network, Network, Network.
As the old saying goes, "It's not what you know, it's who you know." This statement is especially relevant to entrepreneurs. You have to have a strong customer base in order for your business to be successful, and having a strong business network is the best way to initially develop that client base.

3. Hire For Character.
Hiring your first employee is a critical turning point in the life of your company. As you interview potential candidates, carefully evaluate applicants on their personality and their character. You can always train your employees to develop new skills, but it is much harder (if not completely impossible) to train them to uphold your company's values.

4. Find A Secondary Source Of Income.
You may think that you don't have time to take a second job or even to keep your current day job, but making time for these other sources of income (instead of only relying on your new business) is important. It alleviates some of the financial pressure on your new business venture, allowing time for your business to become established before you need to rely on it as your sole source of income.

5. Give Your Brain Time To "Turn Off."
Starting a business will likely be one of the most time-intensive and all-consuming projects of your life. It's important to give your business the time and energy it needs to flourish, but it's equally important to give yourself time to disconnect. If you don't give yourself time to recharge every now and then, you risk burning yourself out.

Need A Business Attorney?

As you prepare to launch your new business, we encourage you to set up a consultation with one of our business attorneys at the Lake of the Ozarks. As a business owner, your attorney will be an invaluable resource. We can help you draft and review important contracts, defuse customer disputes, create a succession plan, and help with every step along the way. We are proud to support our local businesses. For more information about our business law services at the Lake of the Ozarks, visit us online at

Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. Evening and weekend appointments are available. We have access to interpreters.

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Camdenton, MO 65020   GET A MAP
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  2. Great article... Thanks for sharing it. It’s motivational post for business entrepreneurs. I have something to share with you it’s very helpful to becoming a successful entrepreneurs. check here: Business development for entrepreneurs article


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