In 1981, after eight (8) years in university I decided to start my own business. This was my first leap into to the world of entrepreneurship and business. During the last 30 years I have owned several computer stores, an advertising company, a web design firm, a couple of health food stores and a publishing business. I've dabbled in lots of other things too, but here are just a few of my thoughts that may help you along the way.
Confidence: If you don't believe in yourself or your business then you're heading for trouble. In every business I always believed I could be successful even when I really didn't know much about the business when I started. You must therefore believe in yourself and have confidence in what you are going to do.
Plan: Every new venture needs a plan. You wouldn't build a house without a plan so why build your business without a blueprint for success. A good business plan looks at key ingredients like operational, financial, marketing and personnel issues. There are lots of good books on developing a strong business plan and some great information on the Internet.
Money: You need lots of money to start a business - right? Wrong! Many successful companies start with very little capital. Apple and Compaq computers started with an idea and a dream but not much money. Don't let your lack of funds hold you back,
Age: What's the right age to start your business? Colonel Sanders was in his late sixties (60s) when he started KFC and Bill Gates was still in school. Don't let your age stop you from starting your dream business.
Experience: Many budding entrepreneurs play the waiting game, preferring to wait until they have more experience. You have an idea or a dream and there's no time like the present to act on it. The longer you wait the less your chances of starting your business.
Failure: A favorite saying of mine is "Do the things your fear the most and death of fear is certain." When I started my first computer store I was just out of school and knew nothing about how to sell computers. In two (2) years I was carrying all the major brands, had two (2) stores and was winning awards from companies like IBM and Apple for our sales efforts. Sure I made lots of mistakes along the way but with every mistake I learned some valuable lessons.
People: You can't do it all yourself and there will come a point in time where you will need to have others help you. I have found that it is often well worth the expense to bring in talented people to help you grow and manage your business. I was two (2) years into my second business when I realized that I needed some marketing help. I hired a seasoned professional and for the next three years learned a great deal about advertising and marketing. Don't be afraid to seek assistance when starting or growing your business.
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