It seems as if everyone wants to be an entrepreneur. Whether it’s because your job sucks, it’s just time to move on, you’re sick of working for “the man” or you just need additional income – the word entrepreneur is the “new black”.
I always tell people not quit their day job for the first year of starting a business. Heck, if you can hold on to your job for 2 years continue to bask in getting a check every two weeks and percentage of your healthcare paid for by your employer. These are two things that you’ll surely miss when you go out on your own. TRUST ME.
Making that leap to being your own boss is one that should never be taken lightly. Here are a few CRUCIAL thoughts twhenstarting a business. Lessons that I have learned over the years and have to reiterate to myself with each and every venture.
1. BE OBSESSED WITH WINNING. Don’t make that leap unless you’re obsessed about it and can articulate a clear and competitive edge over your competition. What can you do that’s different from the competition? Running a business is extremely difficult. If you’re not obsessed with winning, and can’t articulate your blueprint for success – don’t give up your day job. You’ve got to have that edge. Even 5 years in with NOLA Ice I will wake up at 5am to make sure we have the best spot at a festival. I’ll be up all night making sure everything is just right for the next morning. In every situation there’s a winner and a loser. No one remembers that you came in second, or were just nominated. They remember the ones who can register that “W”.
2. STAY FOCUSED. It’s so easy to want to move quickly, expand into different markets, but you have to make sure everything is just right before making that leap. Stay focused on your core product or service before making those next steps. Don’t expand into a new market, a new location, or add additional products until your CORE product, the thing that made you want to do what you do, is perfect.
3. DON’T BE AFRAID TO FAIL. Failure used to be one of my biggest fears but it happened and I learned from it and grew. Never be afraid to fail. Your true failure is from not learning why it happened and refusing to pick yourself up and take the next definitive steps to get back on track.
4. HIRE WELL. I personally say avoid hiring family and friends unless these individuals are competent because once the shit hits the fan they will no longer be your family and/or friend. Hiring well is crucial to the overall success of your company. Customer service is huge in any industry. Having competent, outstanding individuals representing not only your business but you is what will allow you to continue to develop, to continue to grow.
5. LISTEN. I can’t stress this enough. Listening is crucial to the growth of your business. Some of my best ideas come from my employees and customers. Listen to their wants, their needs, and try to incorporate that into your corporate structure. Never be “too good” or “too smart” to at least listen to the advice or suggestions of others. If you are not prepared to close your mouth and open your eyes and ears then this industry may not be the one for you.
What else would you add to the list?
Website: http://www.NOLA-Ice.com, http://www.CaulfieldHoldings.com
Twitter: @NOLAICEBham @BonTempsBham
Facebook: ww.Facebook.com/NOLAIceBirmingham
THE ENTREPRENEGRO 