5 Universal Truths for starting a business
How do you stay on track in such a fast-paced environment? Follow these 5 key steps.
1. Follow your passions
Though this phrase may sound like something you might find embroidered on a throw pillow somewhere, there’s no disputing its veracity. If you have a true passion for what you do, your business life will be that much stronger (and happier). And even if you don’t have an unwavering interest in the work you do, make sure you keep your goals for the future in your sights. The late Steve Jobs said it best: “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking.”
2. Don’t be afraid to start small
This can be a hard thing to remember sometimes. In this age of the viral videos and reality TV, fame, success, and fortune seem to happen almost overnight – but it’s important to remember that, in the real world, these things take time (and more than a little TLC). We’ve all got to start somewhere; many wildly successful business start out of the garage, or a tiny blog. For example, popular eyeglasses website Warby Parker was started by a group of four friends who just wanted trendy glasses to be more widely and affordably available. As suggested by the blogs and features on a site like DepositAccounts.com, there are several financing options available to young, budding entrepreneurs looking for a financial boost to get them off the ground.
3. Build your dream team
You don’t have to do it all on your lonesome: surround yourself with people with different skill sets as you to create a truly eclectic mode of thinking. Having people whose opinions you trust will keep you on track to your goals — plus, it will make sure your ideas are always fresh.
4. Embrace criticism
This may seem counterintuitive, but you never know what criticisms (and that pesky advice that usually accompanies them) might be able to shift your business for the better. Even bad advice can help you see things in a new light — being open to anything and everything will keep you on your toes.
5. Take risks
You’re not going to get far without at least a little skin off your back. That’s not to say put all your money on one horse — we’re talking calculated risks here. But if you (along with trusted associates) have really thought it through, it may be time to take the metaphorical leap.
Richard Branson, founder of Virgin (as in Virgin Mobile, Virgin Atlantic, etc), put it best when he described the secrets of his success to a twelve year-old aspiring entrepreneur on LinkedIn: “The key enterprising skills I used when first starting out are the very same ones I use today: the art of delegation, risk-taking, surrounding yourself with a great team and working on projects you really believe in.”
Dave Landry Jr is a blogger and infographic designer, focusing on a range of topics but recently with a concentration on finance and business-related issues.
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