Advice for life (and small business).
We talk to a lot of small business owners & it’s always fascinating to hear how they got started. More often than not, they sort of fell into it. They needed a side hustle after divorce & it ended up becoming their main source of income, or a hobby turned out to have MAJOR demand. Entrepreneurship happened TO them, they didn’t particularly seek it out.
Entrepreneurship is what happens while you're busy making other plans, I guess.
Starting a business is no small endeavor & if you ask 1000 entrepreneurs, you’ll get 1000 different pieces of advice. Here’s our advice & the bonus is that they apply not just to small business, but life in general:
Pick a team you trust
While you may be the big boss, going it all alone is a recipe for burnout & even disaster. A lawyer, a bookkeeper, a CPA, a business coach or all of the above will keep everything organized, legal & as drama free as possible. You can’t be an expert on everything, so lean on the expertise of others.
Take it seriously
Yes, that means setting up a separate bank account & getting an EIN and all that, but it also means using serious language. You will be tempted to minimize & diminish this new adventure to others. Maybe you’re worried it will fail & you don’t want any expectations putting pressure on you, or maybe you’re worried others will roll their eyes. Don't make yourself small. Take yourself seriously & others will too.
To thine own self be true
You can’t be all things to all people. Figure out what is really important to you (things like service to the community, equal rights, or environmental causes) & let that shine through everything you do. Let your marketing, policies, pricing etc. reflect the stuff that matters to you. Some people will not feel the same & that is okay. Your ideal customer will be your most loyal advocate.
They say entrepreneurship is like the monkey bars: you just have to keep moving forward. Don’t let fear of the next rung leave you hanging–let go of the old & reach for the new.
Entrepreneurs: what advice would you give to someone just starting out? Drop your wisdom in the comments!
