Thinking of Starting A Business? Just Start.
If you have responsibilities, don’t bet the farm right out of the gate; get your plan together and start your business on the evening and weekends. If you’re not sure where to start, ask someone after you’ve done your research; not everyone will help you, but you’ll be surprised at just how many people will. It’s not an easy path, but the most worthwhile things are never easy.
Steve Jobs said that you cannot connect the dots forward – only backward.
Hindsight is 20/20 and you have to learn from the steps you’ve taken to get where you are today. Looking forward, you may only be able to see 2 or 3 steps ahead of you with an idea of where you want to go in mind. Even when the road to your dream may be several hundred steps of hard work, effort and dedication, don’t lose focus on your end goal. Each step forward is a step in the right direction.
Seeking help from others that have done what you’re trying to do
Finding others who have been where you are now allows you to gain insight into how things were done before. These individuals can be a wealth of knowledge and insight into tribulations they may have experienced, allowing you to learn from others’ mistakes. Word of caution though, make sure people you’re getting advice from have experienced your situation recently. Too much time between execution and reflection may cause people to see through rose-coloured glasses and not remember the struggles they may have had.
Books can be mentors too
Not everyone has the opportunity to have a great mentor or two fighting in their corner. Don’t let that stop you from seeking out advice and information from people you admire. Pick up a book! If you don’t have access to people, just read more or listen to e-books. The average CEO reads 50+ books a year. If you want to become a CEO, start reading like one.
Don’t bet the farm on the transition; unless its safe to do so
There’s few things more risky than going all in on an idea unless you have a type of safety net that can cushion you should things go sideways. If you’re looking to start your own business, make sure you get your responsibilities aligned with your spouse, ensure your budget is accurate and you plan your cash cushion accordingly. If you’re still in your early 20s, use your age to your benefit and couch surf to make it happen. People this young usually have low to no responsibility – use that. Both Mark Cuban and Gary Vaynerchuck both recommend this as a way to gain experience. If you have the option, start a service based business over a products based one. Services can have a low barrier to entry and low startup cost. In comparison, product based businesses can be very costly to start up. Make sure you are aware of CAPEX needs as they are always more than you think.
Learn to not care about what others think of you
This is a big one that can be hard to do. However, once you stop caring about what others think of you, it lifts a massive weight off your shoulders so that you can be who you are, worry about your own problems and not have other people’s opinions preventing you from achieving the level of success you know you can become. If you’re not willing to stumble and fall you will not run fast enough to be successful.
Dealing with family on the transition
This sort of relates to the point above about not caring what others think of you. This includes family. People who love you will try to mitigate your downsides by telling you to keep it safe and err on the side of caution. Only you have full context on your situation, no one knows what’s going on in your head but you. Look at the believability weighted opinion of those around you and work with these capable people to better guide you to where you want to go. Family is great but their opinions should be weighed lighted than that of people who have accomplished what you’re setting out to do and can explain how to accomplish your goals.