When you are starting your own business, it always seems like people are quick to give you advice. But how do you know what you should and shouldn’t listen to? Here are 6 pieces of advice you shouldn’t always listen to:
- Find the right time to launch. Although emerging industries can result in many successful businesses, there is not always a perfect time to launch. Far too often, you find yourself saying that there’s something getting in the way and you continue to procrastinate- stop! If there is something “in the way”, then you will better learn to face it after starting your business, rather than continually attempting to predict the outcome and delaying your start. Finding the right time to launch can be essential at times though, as Bill Gross explains in his Ted Talk.
- Quit your job. Starting a business doesn’t mean you have to set everything aside. In fact, gradual changes will make the entrepreneurial process much easier. If you have the time and the money to start your business, go for it! If you still need the steady paycheck though, there are ways to start your business during your off-hours. If you’re attempting to start a business in your free time, read this article about moonlighting for success for more tips.
- Expand what you offer. When you’re just starting a business, the number of daily operations can be cumbersome. Although you might be thinking that multiple products means a larger target market and more awareness, it does not. In fact, expanding too early, without an ample amount of capital or employees, can result in failure for your small business. Focus on one project at a time and stay organized. In turn, this will result in strengthened rapport with your customers.
- You’re the only one who can do everything right. As I’ve said before, your daily operations can be overbearing, and as much as you’d prefer to do everything yourself- don’t! Between marketing, sales, design, administration, and whatever other positions are needed for your business, you will need to hire someone eventually. At this point, it is important to find people who are qualified and trustworthy in order to delegate tasks to employees.
- Do what you love. Do what you love, but remember, you can’t always do what you love when you start a business. If you’re a chef and decide to start your own restaurant, you may find yourself buried in paperwork and management rather than actually doing the cooking. Figure out beforehand if doing what you love for your business means being stuck behind a desk or not.
- Enjoy your flexible schedule. Although you are your own boss when starting a business, you’re still catering to the needs of the customers. This means that if the customers prefer to shop from 9 to 5, you’d best be open. Flexible hours can go both ways, meaning that either you can work less and at preferable times, or you’ll be working more than you planned at less preferable times. Starting a business can take more effort than expected, and you might just find yourself working all night to get your business off the ground.
All advice is not always good advice, so decide what’s applicable to your situation. Even though some tips may work for some people, it might not work for you. In order to figure out what works best for running your own business, you’ll need to get started!
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