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A letter of advice to first time entrepreneurs

You don’t know what it’s like to start a company, until you start a company and it’s much easier to start a company when someone else is paying the bills.

You might think you have everything planned out for your company, but you don’t. So many things are going to change; industry, model, merchants, vendors, distribution, developers, designers etc,. that you might end up with something completely different than what you originally envisioned or planned for. That’s okay. The journey of building something entirely your own will be an invaluable experience, something that sticks with you forever.

The journey is much easier when someone else pays the bills first.

I’m not trying to defer you from starting your own company today. Plan- build- go-live – profit! You might be the gifted and talented person to make it work, but then again there are so many things that you don’t know yet. Trust me when I say that it’s easier to get that first round of experience first. There are things that you’ll learn from doing and living startup life that a college classroom, online simulation or book cannot prepare you for.

Just a few things I’ve learned.

Confidence in decisions. You have to look at problems with your Steve Job’s reality distortion field and make the impossible happen, over and over again. You won’t always be right, but you have to work relentlessly like you are.

Drop it like it’s hot. Your decisions will be wrong at times. You might have invested time, money, countless hours all for nothing. But rather than try to keep something going, it’s better to drop the sunk costs and keep moving forward.

Keep talented people around you. You can’t do everything (the e-myth) and will need to rely on people. To build something great takes greater people and belief in the company. People need to buy in to what you’re trying to do. If you find people like this, keep them at all costs.

It’s easier to quit. Startups and new companies are a roller coaster of emotion: manic excitement and total dispair. How you react to these things are unknown until you’re there living it. This is another time that it’s easier to do on someone else’s dollar.

Find a job at a startup company!

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If you had experience before launching your own company or starting a major project, I’d love to hear about it below.

benhebert

I make money online through websites and business consulting. Everyday I'm challenging myself to learn and do more.

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