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The world of business is something thousands of people go into everyday. It’s great that so many people have dreams of building empires of their own, making six figure profits and finally feeding their families and friends without a worry… But at least half of those people come out of it a year or so later in a worse position than when they went in.

Indeed, about 50% (at least) of startups and small businesses fail in the first few years after they’ve been founded; we need to make a difference for your company here, and the only way to do that is to know you’ve got a great foundation to build off of. Whether it’s a great business contact, a seminar that gave you so many resources, or even just years of experience, you’ll have a better foundation than most.

If you’ve got a company idea in mind, and you’re passionate about it and know at least a few people you’ve talked to would like the product or service you’re offering in their life, now’s the time to seriously look into these plans. And when you’ve got a list of the best foundations for starting a business on your side, you already know you’re going to go far. Don’t rush into a startup with nothing but dreams on your shoulders; make sure you’ve set the stage correctly for a thriving future.

Always have some good advice and the right kind of people on your side; these two simple assets can take you far! (Image)

Have a Specific Qualification

Running a business isn’t something everyone can do, as was made clear earlier. You can’t simply walk into an office demanding a job, proving immediately upon starting that you’re cut out for leadership. You’ve got to have a good CV to join an established company, if you even get an interview, and then slowly work your way through the ranks. You’ve got to prove you’re adaptable, that you can handle tense situations that have no predictable outcome, and that you know what to do in a crisis. And that’s the short answer!

These are often all innate abilities, but they need a lot of polish if you’re intending to be the boss. So in order to lay a good foundation when it comes to knowledge, make sure you’re specifically qualified to run a business and take stock of all its assets. And now more than ever is that easily done.

Sure, you could go to college and work for years to get a degree. It’ll be a good period in your life for readying yourself to run a company; the student lifestyle itself will show you if you’re cut out for operating on a budget. Or you could use the wonders of modern technology, and turn to options like VU Online to get your degree on your own terms. Learning has changed a lot in the past ten years alone, and if you want to be a leader of the future, you should follow this example.

Get Some Contacts

When it comes to laying a good foundation, there’s nothing quite like using other people’s ideas and insights and turning them into your own thing. It’s happened again and again over the centuries, and you could very well come up with an original idea based on an offhand comment an industry expert wrote to you in an email.

So make sure you’ve got networking skills on your side, and always take a chance on business contacts, even if you think at first that they’ll be of no use to you. You never know the kind of business these people could bring to your doorstep if you don’t look into them in the first place, and if you present yourself as exciting enough to come back to, your contacts will be networking themselves!

But how do you do this? First of all, you head to the internet, and the world of social media to try and get on people’s pages (literally and metaphorically). Social media allows you to contact investors and customers alike, as well as other businesses you could collaborate with, both local and international, all from the comfort of a homepage. You need to have something that keeps you on people’s mind, as a business card doesn’t tend to go too far these days, and having someone follow your internet stream just by clicking a button is a good way to be ever present for their needs.

Become an Intern

It’s an entry level job that doesn’t necessarily have to pay you for your time, but if you can intern in a business that works within the same sector as the one you want to start, you’re going to see firsthand how these businesses work, and what they do to turn a bigger and better profit each day. A bit of experience on your side is never going to hurt you, and intern programs never take up too much time out of your schedule.

As an intern, you can watch and learn from the best of the best, and receive all kinds of tips and tricks that you can easily note down when you have a minute. You’ll be working on projects with professionals that might even have their own wikipedia page, and you never know when you impress someone so much they give you the opportunity to take you on full time.

If someone does offer you this at the end of a program, the smart decision would be to take them up on it. But that’s not what you’re there for, so turn them down with the secure knowledge that you’re good enough for a similar role in your own company! Interning can give you a whole new world of understanding about corporate matters, so take this decision seriously and look into what’s on offer in your area now.

Remember, starting a business takes a lot of time and effort, but you never have to walk into the opportunity blindfolded!