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
You’re the Boss published Should I Stay or Should I Go?. This article talks about making the decision to stay at work or to leave for the day and what needs to be done in order to make it easier to make this decision.
If you own your own business and you have made commitments, it is sometimes necessary to take care of business.
You’re the Boss published A Plan for Working on (Not in) the Business. The author, Jay Goltz, goes through the parts of the business that need to be examined to enable the business to get to the next level. The top 10 things to look at are:
You’re the Boss published It’s Never the Employee. “Before You Blame Your Employee, Ask Yourself Some Question” is appropriately the tagline for this article. The article talks about looking in the mirror before pointing the finger.
The bottom line? It’s never the employees who are the problem. It is the training they didn’t get. It’s the oversight that wasn’t given. It’s the lack of structure. It’s the boss who can’t let go. It’s that the wrong employee was left in the job too long. It is the boss’s responsibility. In a privately held business, it is always the boss’s fault. The boss has control.
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.
And that was O.K. Of course, the next time someone asks me which company coated my floor, I will be giving a different answer. Here is the simple math. The touch-up kit can’t cost more than $10, including shipping. The cost of coating a garage floor is now, I’m sure, around $4,000. I almost certainly would have had occasion to recommend this company to a couple of other people in the coming years. Which means this will probably cost him $8,000 in lost business. And then there are all of the referrals from the referrals. Maybe $20,000? $50,000? Nice letters and warranties might get a sale, but standing behind your product or service will get the repeat business and referrals that make the business.
Jay Goltz published How to Diagnose What’s Wrong With Your Business in You’re the Boss, outlining the things he takes a look at when a business is struggling. The first 3 relate to Marketing, the next 3 to Management, the following 3 to Accounting & Finance, and the last one stands alone:
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.
The New York Times published Avoiding the Growth Trap in their You’re the Boss blog. This article reminds us that along with growth and expansion comes positives like job creation and more revenue, and negatives such as risk, stress, and aggravation.
And, finally, I have figured out that I need more money less than I need more aggravation, which, happily, is at an all-time low.