After spending his early career as an industrial engineer, Lonny S. Bernath decided to study for his MBA at the Massachusetts Institute of Technology. Upon graduating, he started to flex his entrepreneurial muscle, first by starting a hedge fund and later through the founding of AtoZ Companies. He notes that there are a number of things that first-time entrepreneurs need to keep in mind to stand the best chance of achieving success, including all of the following.
Be Passionate and Knowledgeable
If you try to start a business without having any knowledge of the industry or passion for the work that you are going to be doing, odds are high that the venture is going to fail in fairly short order. Potential investors and business partners will see that you don’t really care for your work, which shows them that you likely wouldn’t care about the level of service that you provide to them or your own customers either.
Be Logical
Your business idea needs to have legs when it comes to marketability. As such, if your idea doesn’t meet an existing demand, it is unlikely that it is going to get very far. Stay logical in your thinking and make sure you don’t become emotionally attached to your ideas.
Network Constantly
One of the reasons why Lonny S. Bernath has enjoyed so much business success is that he is constantly looking to learn from others. By networking as often as possible you will meet people who can provide you with the benefit of their own experiences, while also building connections that could lead to opportunities.
Be Passionate and Knowledgeable
If you try to start a business without having any knowledge of the industry or passion for the work that you are going to be doing, odds are high that the venture is going to fail in fairly short order. Potential investors and business partners will see that you don’t really care for your work, which shows them that you likely wouldn’t care about the level of service that you provide to them or your own customers either.
Be Logical
Your business idea needs to have legs when it comes to marketability. As such, if your idea doesn’t meet an existing demand, it is unlikely that it is going to get very far. Stay logical in your thinking and make sure you don’t become emotionally attached to your ideas.
Network Constantly
One of the reasons why Lonny S. Bernath has enjoyed so much business success is that he is constantly looking to learn from others. By networking as often as possible you will meet people who can provide you with the benefit of their own experiences, while also building connections that could lead to opportunities.