I’m asked all the time for advice on starting a new business. What to do, how long things will take, etc.
I’m still figuring it out myself, but here’s my advice for a budding entrepreneur on his or her new business venture:
- First and foremost, success doesn’t happen overnight. It’s called ‘a get rich quick scheme’ for a reason because it doesn’t work. The chances of becoming a millionaire overnight is rare. Work hard and success will come.
- Create a plan. Walking into something blind is never advised. Set measurable goals, both short- and long-term to work towards. People try to over complicate business by adding a lot of different avenues.
- Do what you do best. Don’t try to be a multi-trick pony in the beginning. Find your niche and hone in on your craft. What sets you apart is being the best at one thing. Or delivering it with flare.
- Have a strong team. You can’t build a city on your own, so you need others to help you build. Put in place people that will not only help the success of your business, but also teach you something you may not have learned.
- Always educate yourself on the latest and greatest because you never want to fall behind.
- Go for it. The longer you ponder an idea, the longer you’re not as successful as you possibly can be.
- Don’t be afraid to step outside the box and your comfort zone. If you want to start a donut shop, do it, but with the goal of surpassing Dunkin’ Donuts.
- Have fun with it. For me, success is built off passion for a specific project I’m working on. I see many people in things for the wrong reasons. Enjoy what you do and you’ll never work a day in your life.