Here is 5 points to throw around when getting started with a new business.
1. The first year will be hard.
The first year has by far the most room for failure. It defines your path and helps you figure out what it will be like to run this business. There usually more paper work, struggles, and risks. On the bright side you have something to look forward to after the first year.
2. Avoid common issues
On one hand you have someone that is so meticulous they get stuck in their head trying to come up with the perfect business plan. The opposite is someone that barrels in with no fear. Both can work both have pros and cons. Ideally you would blend them somewhere in the middle.
3. You probably will not hit your goals.
It’s staggering how many start ups do not meet their Venture Capital goals. This doesn’t mean game over but it does mean you need to be flexible. Add substantial variables to any project or risks analysis.
4. Don’t get caught up in Genius.
You have a great idea, you are smart, and you are committed. The truth is your not the only one, thousands of amazing ideas and genius level business people fail every year. It takes more and I can’t explain what that is. I can say it pays to get off your high horse and be willing to get your hands dirty.
5. Get help when things get hard
Just having someone to talk to is amazing. Find another business person in your area and keep in touch. You can bounce ideas and have an ear when things are tough. Also don’t be afraid to talk to your family for help, they might not understand your business, but they will listen and that alone can help tremendously.