In the long run of your labor and professional life with your business you will experience many times of satisfaction and happiness, but you will also experience restlessness of fears and doubts.

     In a global economy like the one that we live in, everything changes quickly, technology improves every instant. And you like it or not, are part of all of that.

     There are elements and established boundaries that you will not be able to control or at times even foretell, producing a decrease in your business since you do not have access to the new technologies that could be incorporated in your sector. You might have to start over again and adjust your company for current times.

     This usually costs a big financial investment that in your case you may have. How?

     Well assigning a fixed quantity, inside your balance, that you estimate appropriate to cover yourself in case it is necessary. You could call it “The Account Just in Case”.

     Put some money monthly into this new account, and do not make use of it.
Do not use it to pay your suppliers, to by machinery or to pay wages. Leave it there just in case things go wrong and you need to start over. This will allow you to have some important reserves in the case you need to start a new adventure.

     Don´t make use of it. It is your guarantee of future. No one knows what it could happen.
You know the talk: it is not good to put all the eggs in the same basket.

     Emotionally and mentally, counting with this money could help you avoid drawdowns, depressions, etc.

     This is just about the financial point of view. In another order of things we could talk about, for example, the formation.

     Being constant in updating your company to the changes that are produced in your sector has to take you to the newest and modern technologies and situations of your competition. You need to remember about them, try to get new technology for your company and be competitive.

     You can achieve a constant formation through specialized magazines, sector fairs, professional organizations or faros. However, who can inform you the most about where your market is going are your suppliers, this is why it is so important to have a good relationship with them. The suppliers can inform you about the newest trends of the new products of fabrication (they will try to sell them to you) and only if the sector is good or bad.

     Listen and learn to listen. It is very important for you. Do not be that type of person who thinks that you are the only one who knows everything about your activity. Do not lecture people who have not ask to be lectured. Do not talk just to listen to yourself. Even though you know very well your sector always keep in mind there are people who know it better than you.

     It is intelligent to listen to others, learn for their experiences, from their errors, some of which have helped them progress, how have they achieved a to better production, what type of technology they use, what is their sales policy, instead of you talking constantly to rehear what you already know. Be humble, learn from others. It is positive and overall inexpensive.

     Remember: who knows will not talk, and who does not know will talk.

     More and more small and medium entrepreneurs go to mentors.

     A mentor is a person with experience in the professional world or business world that will help you and guide you during your worst moments and is someone that will always listen to you and also understand you. This mentor will hear your fears, concerns and doubts. This is valuable because it mitigates your sensation of being alone. It is someone who you could tell your worries to, things that you could not tell your friends or your family because they would not understand nor know how to give you an answer. However, a mentor will understand you and give you the right advice. The mentor will know what is happening and what you are going through for the very simple reason that he could have been through the same situation you are. He will know how to advise you and will be more than happy to do so, because his or her major goal is for you to succeed, your success is part of their success.

     If the evolution of your business goes according to plan it is prudent to start looking at other options, start another activity or participate in something that has already begun. This allows you to be in two sectors and for some reason one sector goes wrong you can concentrate on the other sector. If both sectors (businesses) positively develop that is even better.

     This does not mean that you have to abandon your first project. I only want to encourage you to possibly diversify your risks. This means work more. No one said being an entrepreneur, develop a project and live a life of fantasy was going to be easy. There needs to be effort, work, constancy, logic, and a long etc. Nevertheless, you will discover that it was well worth the hard work to be your own boss. You put your own limits