Jay Goltz published Do You Really Want to Be a Business Owner?. It discusses the Pros and Cons of being a business owner.
Here’s my question: Is wearing an entrepreneurial crown too uneasy for “normal” people? Entrepreneurs are definitely not normal, and entrepreneurship is definitely not for everyone.
Jay Goltz published The Top 10 Rookie Mistakes for Entrepreneurs. The article lists the mistakes often made and gives the reasoning behind why it’s on the list. I can’t say I agree with all of them wholeheartedly, but they are definitely worth reading and considering.
- Keeping your rent as low as possible
- Hiring someone you know and trust
- Buying used equipment to keep expenses down
- Keeping your prices “reasonable”
- Saving money on professional advice
- Considering borrowed money a last resort
- Picking a bank that knows you and that you have a relationship with
- Thinking you have your advertising figured out
- Treating your employees fairly
- Falling blindly in love with your product or service
Jay Goltz published Six Attributes of Successful Entrepreneurs in the New York Times’ You’re the Boss blog. This article talks about the things that aren’t taught in college or business school that great entrepreneurs need.
- Risk Tolerance
Barbara Corcoran published 8 Lessons for Female Founders from Barbara Corcoran on Forbes. Although the advice was written for women, much of it applies to anyone starting a company or trying to establish themselves. My personal favorites are:
- Perception Creates Reality
- Shoot the Dogs Early
- There Are Two Kinds of People: Expanders & Containers
Jay Goltz published So You Want to Start a Business, reminding everyone that starting a business is hard. He suggests doing your homework, seeking intelligent advice, and confusing support with wisdom.
One more thing: Going into business is risky, treacherous and demanding. But it is also invigorating, rewarding and beautiful, when it works. It is a lot like nature — with violent hurricanes and beautiful sunsets. I am not sure that you choose to be an entrepreneur; it chooses you.
Forbes published How an Entrepreneur Can ‘Get Lucky’ in a Startup, listing 5 traits successful entrepreneurs have in common:
- Accept responsibility for your actions
- Learning from mistakes
- Perseverance on all goals
- Confidence in yourself and others
- Cooperation with others in your network
CNN Money published Tory Burch to Entrepreneurs: Embrace Change. The best part of this article is the list of what small business should do to learn from big business:
- Read interviews with experts in their field, listen to their advice but also have their own focused point of view.
- Look at companies that they admire to learn from their strengths and weaknesses.
- Not underestimate the power of a cold call. Requesting informational meetings is a powerful tool.