8 Tips for Entrepreneurs That Will Keep You Off Your Mom’s Couch
8 ) DIE
No, not literally – although death sometimes seems like a carousel ride compared to the exercise of starting a business. You do, however, have to put aside your own personal wants in order for your “baby” to grow and develop into a mature business. The sooner you realize your business isn’t all about you, the better. Creating, constructing and maintaining a viable company will take away your pride and self-reliance and show you what you’re truly made of. Die fast.
7) STOP LYING
It’s the biggest lie ever told and each year countless victims fall prey to its merciless trap. It’s the myth: I’m great at doing this! Everyone knows me for doing this! That must mean I’d be great at running a business doing this!” Get this in your head… being a great baker and owning a bakery are 2 completely separate things. In fact, beyond the yummy smell of cream cheese cake, they don’t have very much in common. Learn the business of what you’re good at before you try to make a living doing it.
6) BRING AN UMBRELLA-ELLA-ELLA…
This one’s simple. Life happens and storms will come. You may run out of money, get sued, lose all your client files, experience a tragedy or get poked in the eye. No matter what obstacle comes, you absolutely must first STOP, THINK, DON’T PANIC and then use your brain to get through it. Your umbrella is your peace, your faith, your trust and your hope. It really does work… you just have to bring it along and open it up.
5) THE P-WORD
It’s the single-most important thing. You can’t live without it. Everyone has one. If you don’t use it your life will inevitably suck. Nope, not your pancreas – though you do need that. It’s your purpose! Fish were formed to swim, birds were born to fly and you were made to (fill in the blank). Build your business around your life, not your life around your business. Figure out why you were born, pursue it, and the money and resources will come.
4) DON’T FORGET YOUR WALLET
At the day’s end, business is still about money. Money is the objective. Even in a non-profit organization your goal is to raise the money and then use it for a meaningful cause. Realize that you will need plenty of it to start a business. And then learn a thing or two about accounting, finances, credit, taxes and all the business basics. It’s the language of industry and without it you’re deaf, dumb and mute.
3) YOUR BOSS IS AN IDIOT
It’s a hard pill to swallow but it has great results. If you’re starting and running your business, you must realize that you work for the most incompetent, unqualified boss ever – you! You won’t have all the answers and (gasp!) you won’t feel like working all the time. At the end of the day you can only do so much. That’s why it’s vital to build a business model that works, not because of you, but without you. There are only 3 ways to get rid of the idiot lurking inside you: 1) read books 2) meet smart people 3) learn from your mistakes.
2) DANCE WITH THE SIAMESE TWINS
Adversity is ALWAYS tied to opportunity. They are conjoined at the hip and where you see one, the other is not too far away. The new economic climate and convergence of technology has created countless opportunities for new ways of doing business. Many traditions are becoming void while new business models are sprouting. Creativity thinks up new things, innovation does new things. Be a doer. Don’t play by the old rules. Create new ones and opportunity will come knocking.
1) SOLOMON SAYS
A long time ago, men wore togas and lived life slow. King David had a son, Solomon. Solomon was young and inexperienced but he was given one of the biggest real estate development projects ever. He was to build a great temple. His father told him 5 simple words, “Be strong and do it.” Same goes for you. Great ideas are everywhere. The success of your business will be in the execution. Businesses all fail for the same reason – they give up. Keep working at it and don’t give up if it’s truly what you are meant to do. Remember, the brick walls are there to show how bad we really want something. Solomon finished it, why can’t you? I’m sure he’d agree: Be Strong And Do It!
BONUS: If you only read 1 book this year, make it a classic. Michael Gerber’s E-Myth:Why Most Small Businesses Fail And What You Can Do About It. This $10 will save you thousands.