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Whаt's thе bеst bit оf аdviсе yоu'vе bееn givеn аs аn еntrерrеnеur?

Discussion in 'General Business and Entrepreneurship' started by Jack Benoit, Mar 10, 2016.

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  1. Jack Benoit

    Jack Benoit Member

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    Thе bеst bit оf аdviсе I'vе bееn givеn is tо Сеlеbrаtе Yоur Viсtоriеs - Рrореrly. Fоr Rеаl.
    Dоing а stаrt-uр is sо hаrd, it tаkеs sо mаny рiесеs, sо mаny viсtоriеs, оvеr suсh аn еxtеndеd реriоd оf timе ... it's sо tеmрting tо аlmоst mесhаniсаlly асknоwlеdgе а grеаt milеstоnе, аnd mоvе оn tо thе рiе-еаting соntеst thе nеxt dаy. Еvеn hugе еvеnts, аn IРО оr а grеаt асquisitiоn, аrе dоwnрlаyеd.
    Mоrе imроrtаntly, thе First 10 сustоmеrs, thе First $10k а mоnth in rеvеnuе, thе first $1m in rеvеnuе, thе first timе yоu hit Truе Trасtiоn -- thеsе еvеnts аrе trасkеd саrеfully, асknоwlеdgеd, but оftеn, nоt сеlеbrаtеd еnоugh.
    Еsресiаlly, in SааS, it саn bе а grind. It's а 7-10 yеаr jоurnеy аnd соmmitmеnt. If yоu dоn't find а wаy tо сеlеbrаtе yоur viсtоriеs аnd yоur milеstоnеs оf рrе-suссеss аnd suссеss ... it wоn't bе аny fun. Аt аll.

    Whаt dо yоu think аbоut it?
     
  2. Corazon

    Corazon Member

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    Although I was not able to adhere to the advice, but I still remember what an uncle told me - do not borrow money for your business. What he meant was borrowing money with interest - it is okay to borrow money like from your parents or relatives if they wouldn't charge you an interest. He said that Chinese businessmen succeeds because they can borrow from their friends with no fixed term and no interest.

    My uncle is right because our computer retail business suffered a major cash flow that we resorted to borrowings from usurers. And that contributed to our failure.
     
  3. T J Tutor

    T J Tutor Member

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    Do not borrow money for a startup.
    Build a business plan.
    Become a master of research.
    Turn off the TV and put real time in on your project. Work on a schedule!
    Network, network, and network some more.
    Learn how to present yourself.
    Act like a professional, never be a stuffed shirt nor act like a casual slacker.
     
  4. Nikita

    Nikita Member

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    The best advice I received was to remember that luck also plays a big factor in the process. Sometimes I get too worked up by the failures and mistakes that I tend to forget that I can't and shouldn't expect to be able to control everything. This also helps me cope whenever I compare my situation with others, but also at the same time I don't use it as an excuse.
     
  5. remnant

    remnant Member

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    The best advice I have in my arsenal of dos and don'ts is never to launch a product or service without doing a thorough market research. To always determine the market need of a product or service before launching it. This is a cardinal principle I still follow today. No matter how good a product is, all the other aspects of the marketing mix like location and transport become an uphill task. I once launched into making curios with no understanding of the market. I had to throw them away because even the sellers in the curio shops could not identify who they were meant for sale.
     
  6. remnant

    remnant Member

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    The best advice I have in my arsenal of dos and don'ts is never to launch a product or service without doing a thorough market research. To always determine the market need of a product or service before launching it. This is a cardinal principle I still follow today. No matter how good a product is, all the other aspects of the marketing mix like location and transport become an uphill task. I once launched into making curios with no understanding of the market. I had to throw them away because even the sellers in the curio shops could not identify who they were meant for sale.
     

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