How NOT to Start a Business

1. Positive reactions equal a good idea.

People's positive reactions to your business concept isn't a sign of a good idea. It just means you are a good storyteller. Your plan only becomes a viable business concept if someone is willing to give you a dollar for it. 

2. Surround yourself with only success stories.

Positivitivity quotes and endless success stories, or as I like to call them, "entrepreneur porn," can lead to a false sense of brilliance. Keeping a clear view of reality will lead you away from the dream world and straight to making smart decisions. 

3. Jump and build the airplane on the way down. 

Not having a clear plan is a disaster waiting to happen. Be prepared to make adjustments along the way. Develop the understanding that the place you start will look nothing like the future, but you always have to start with a plan. Just be willing to adjust when the market is signaling a new direction.

4. Create it, and they will come. 

Your customer will not appear once your “perfect” product or service becomes a reality. Know your customer before creating the product. You will be surprised by what you don't know about their needs and wants.

5. Always pursue a concept people don't know they need.   

You can create a product or service that removes your customer's pain points, but it won't sell if they don't see the value. Keep in mind that you're in business to solve your customers' problems and not create new ones.

6. Go big right from the start. 

Start small with a minimal viable product or MVP. Introduce the most bare-bones version of your concept. Ask yourself, "Is this needed to make the concept work." If the answer is "no," save it for version two. Resist the need to include all the extra bells and whistles. Starting small allows you to make changes based on your customer's feedback. 

7. Establish a strong web presence before doing anything else. 

Buying the website and investing in expensive marketing is not the best way to establish your customer base. Just like building a house, nothing can stand on a shaky foundation. 

8. Save money by doing everything yourself.

Get people on your team. No one knows how to do everything. Just as crucial as overspending, underspending can stop any good idea. 

9. Fake it until you make it.

Be genuine. Truthfulness is always appreciated.

10. Never take the first step.

You will make mistakes, but the biggest one is never allowing yourself to make mistakes. Start with a balanced mindset, have a plan, and ask for help. 

Godspeed