young entrepreneur advice_ 100 things you must know! _ under 30 ceo

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  • 8/4/2019 Young Entrepreneur Advice_ 100 Things You Must Know! _ Under 30 Ceo

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    Home Join Under30CEO Entrepreneur Interviews Expert Advice Global Events Help An Entrepreneur

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    Young Entrepreneur Advice: 100 Things You Must Know!Under30CEO | 33 Comments and 834 Reactions

    We wanted to create an article address ing som e of the

    problems start-up companies and young

    entrepreneurs have. So we asked!

    What do you wish you knew before you started a

    business?

    1. I wish I would have known how unpredictable things

    can be at ALL times. I read a lot before starting my

    busines s and realized unexpected things happen, but

    never did I realize the frequency in which they do. You

    really need to learn how to adapt everyday to things

    you may not have forseen waking up that mo rning.

    Scott Fineout, http://www.607magazine.com

    2. Before going into busines s I wis h I knew the importance of having an established Advisory Board. Having

    a mentor is one thing but having a counsel of people who are not only experts in various business

    related functions but are also cheerleaders and coaches for your success is another. Kellie L. Posey

    www.keleventsllc.com

    3. I wish I knew about the value of keeping it s imple. Starting out young with plenty of energy and great ideas

    led me down many paths of dis traction. Instead, by focusing first on what s ells, why and at what price and

    then staying true to that over time, I would h ave saved a lot of headaches, time and s upported profitability a lot

    sooner. The s aying KISS is popular for a reas on and particularly applicable when youre an entrepreneur. -

    Deborah Osgood www.bdki.com

    4. The one thing that I wish I knew before starting a business was how much time you spend learning it is

    constant from self development, to busines s bas ics, to social media, talk about wearing many hats! Ohmy and thought motherhood was challenging. I love to learn new things but had no idea i t was going to be like

    this. You have to learn how to act, how to present, how to close, how to keep in contact, how to prospect, and

    how to keep customers! Michelle Morton http://www.sochomebusiness.com/

    5. Focus on yourself as m uch as your product/service. The recipe is only as good as the Chef preparing the

    dish. Mujteba H. Naqvi http://www.bonvoy.com

    6. That whatever my start-up budget is I should have multiplied it by three - Aliya Jiwa http://spunkystork.com

    7. The most im portant, and costly, lesson I had to learn is that in order to grow in a good economy, and in

    order to survive in a bad one, its necessary to understand that one pers on cant do i t all. It requires the efforts

    of a team (sales, accounting, production-service delivery, management, etc.) to be effective. Too many young

    entrepreneurs, myself included, feel they can do it all. Thats a huge mis take. Tom Coalson

    http://www.tomcoalsonconsulting.com/

    8. Financially, I learned that you should get incorporated and need to have a great accountant that specializesin sm all busi ness taxes.I also dis covered that success is easier to achieve if you learn from people that know

    more than you instead of going it alone. Eddy Salomon www.WorkAtHomeNoScams.com

    9. I wish I would have known that the hardest part of owning and operating my own bus iness would NOT have

    been how to create revenue on a m onthly basis . I wish I would have hired a full time IT guy and a s hrink to

    manage with m y sales force! Bradley W. Smith http://www.debtfreeassociates.com/

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    10. I really wished I developed more social skills early on to spend m ore time developing relationships .

    Networking has been key to bringing in m ore busines s and I had practice this social ability more, then

    busines s m ay have come sooner rather than later. Ali Allage www.boostlabs.com

    11. The best thing i did is to outsource all m y administrative tasks. Now i have enough time to focus on other

    important tasks. Gagan http://www.fortepromo.com

    12. Never pay full price for anything onl ine (office s upplies, stock photography, services, etc.)always Google

    for coupons. Bill Even www.TheComingWave.com

    13. Location, location, location. It really is true! Tanya Peila www.tanyapeila.com

    14. Finding the right Accounting / Financial Manager right up front was our bigges t learning and biggest

    mis take. Completely changed our financial performance and caused us to hit a wa ll we s hould have avoided.

    Mike Cleary http://www.abcom-inc.com

    15. I wish I knew how much general information I would need to know and how long the process would take.

    Almost three years later Im still in the set-up phase to my busines s and teaching myself all about websi tes,

    graphic design, busines s law, bookkeeping, customer service, etc. - Leslie Boudreau http://www.inn-

    photo.com

    16. Its important to get customer validation early on. You can have the greatest technology, or website, or

    service, or whatever, but its ultimately meaningless if you havent verified that there are actually customers

    willing to s pend mone y on or around what you do. - Adam Rodnitzky www.reteltechnologies.com

    17. Business partnerships are like marriages and should be entered with the sam e care. Li ke marriages,

    there are a lot of ass umptions abou t what the partnership is/is not and communication about those will lead

    to better success. - J. Kim Wright www.CuttingEdgeLaw.com

    18. I wish I had known how few true entrepreneurs there are out there. Every time I thought I had a kindred

    spirit with whom to share experiences, lean on for support and provide support to them, it turned out that they

    were looking for a paycheck. Find a partner and a kindred spirit BEFORE you launch. Tom Reid

    www.certifiedKsolutions.com

    19. Small bus iness owners s hould carefully reflect on how they can tastefully build referral sources through

    all contacts, and how to utilize s ocial networks, including the vast resources of the internet, to build a referral

    base a nd, in turn, a client base. - Jay Weinberg http://www.jayweinberg.com

    20. I wish I knew how important it is to never rely on anyone else. I wasted a num ber of years networking in

    hopes of people referring busines s. It never worked. My career took off when I assum ed responsibi lity for

    every aspect, including marketing and s ales. Rob Frankel http://www.RobFrankel.com

    21. I did not realize the level of sacrifice that would be required to become no t only an entrepreneur, but a

    success ful entrepreneur. Dont get me wrong, it is worth every single second, but I had no idea that friends

    and family would not be able to relate. Amber Schaub http://www.rufflebutts.com/

    22. I wish I had unde rstood how little time I would have to do the things that I need to do in order to produce

    and to make money. Make sure that you spend your time and your energy on the revenue generating matters.

    Spend the money necessary to get help. Pay someone els e to take care of all of the admin s tuff. Francoise

    Gilbert http://www.ITLawGroup.com/

    23. I wish I knew how hard it was to manage em ployees and have good, competent help. I also wish I knew

    how to market, advertise, and work these s ocial media tools. - Jamie Puntumkhul

    http://jlpeducationservices.vpweb.com

    24. Have a serious exit strategy & plan prior to opening doors. As an entrepreneur I was ready and willing to

    take the plunge to open my own com pany, but didnt realize I had to s tructure my company around the exit

    strategy (i.e. make it sel lable and transferable, and self s ustaining wi thout my everyday presence). -

    Christopher N. Okada www.okadaco.com

    25. With my first companies I wished I had lined up a client and received a com mitment to buy before I jumped

    in the water. Patrick J. Sweeny II http://www.odintechnologies.com/

    26. I wish that I would have known that my MBA wasnt necess ary to be an entrepreneur. I started bus iness

    before and thought the MBA+ would give me a better insight to prevent me from making mis takes but I believe

    you either have it or you don t. Janice Robinson-Celeste www.CelesteStudios.com

    27. I wish I would have known how expensive running a busines s is mainly payroll taxes, medical

    insurance, etc. We researched all of our fixed costs, however, the more we billed out, the less we keep.

    Marian H. Gordon www.yippeeprinting.com

    28. Find the very best, mos t knowledgeable people you can afford and hi re them with not jus t salary, but

    incentives. The better the people, the better the job done and advice given. Ric Morgan American Busines s

    Arts Corporation

    29. Several years after starting my busines s I learned that the best s ource of advice and peer supp ort arefellow entrepreneurs, especially those who have attained the level of busines s s uccess to whi ch I aspire.

    Charles E. McCabe http://www.vaceos.org

    30. I wish I had understood the value of investing in h igh-level talent. As a s tart-up, its scary to think about

    hiring som eone whos e experience demands a higher-level salary. So you tend to hire les s experienced

    individuals, but they typically dont bring the intellectual capital or business savvy that can help you grow faster.

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    Susan Wilson Solovic www.SusanSolovicOnline.com

    31. Starting a bus iness is like getting married, you think you know what youre getting into and that youll be

    better then the median, but when it comes do wn to it you have no idea. Summer Bellessa

    http://elizamagazine.com

    32. The biggest thing Ive learned and wis h I would have known before I had started our company is the

    difference between sales and marketing. Everyone says s ales and marketing together like theyre the same

    thing. Theyre not. - Scott D. Mashuda http://www.RiversEdgeAlliance.com

    33. I wish I would have known how important a real busi ness plan was, a m arketing strategy, and exit strategy

    were. You should really plan your first two years and have a hit lis t of sales /marketing opportunities that are

    interested before you take the leap. Ben Wallace www.innovative-memories.com

    34. Probably the mos t important thing I wish I had realized earlier was how little I knew about how consum ers

    bought things on the Internet. I have been a web developer for years and knew all about technology, but little

    about marketing and getting insid e the mind of the consumer. Sara Morgan http://www.custsolutions.net/

    35. You cant put your life on hold while waiting for your venture to hit. I have tremendous regret around all of

    the family events, vacations, and time with friends that I missed because I was working on getting my

    film/company off the ground. - Pamela Peacock http://www.shadowlightpictures.com

    36. Admittedly, we went into GiveForward knowing wed have to be flexible and patient. All of the good books

    tell you this, but no one really tells you how emotionally draining that wait can be. Desiree Vargas

    www.GiveForward.org

    37. Hands down without a doubt no questions asked effective marketing. It truly does not matter how great

    your product or service is unl ess som eone knows about it you are still behind the start line. Leanne

    Hoagland-Smith http://www.processspecialist.com

    38. I thought if I had a great product and an attractive, functioning website customers would come. Boy, was I

    wrong! In the online world its all about SEO! Semiha Manthei http://www.firststeporganic.com/

    39. I wish Id have known that the only thing imp ortant in business is bui lding a product that someone will buy.

    Thats it. Its real eas y for first time founders to get caught up in visions of grandeur but in reality, the only

    things that matter are having a great product, and having customers that will pay actual money for it. - Brett

    Owens http://www.chrometa.com/

    40. Business books and all the education in the world can give you the foundation for starting a bus iness , But

    they cannot show you the cold hard truth about how difficult it can be to s tart a busines s. Michael Grosheim

    http://www.thesocialtweep.com

    41. One thing I wish I knew right off the bat is the bene fit of networking. I spent a lot of time trying to tackle

    everything on my own, but its really imp ortant to reach out to fellow e ntrepreneurs, complimentary business es,

    family and friends for advice and s upport. Cailen Ascher Poles http://www.cailenascher.bravehost.com/

    42. I wish I had known how imp ortant it is to outsource to other professionals instead of trying to do everything

    mysel f, and ultimately not always doing everything correctly. Jennifer Hill www.jhilldesign.com

    43. I wish I knew exactly how important it is to prioritize tasks and goals. One of the mos t important lessons

    Ive learned in the las t few months is to prioritize what is important, in order of its proportionate worth. It is eas y

    to do the little things that make you feel like you are accomplis hing s omething, but it is the big important

    things that need your full attention even if it is u ncomfortable. Evan Urbania www.chatterBLAST.com

    44. I was naive enough to think that if I had a great product that helped people and at the s ame time had the

    lowest prices available for the products we did sell that word would spread and people would be excited to

    use ou r product. Chris Sorrells www.ErgonomicsSimplified.com

    45. I wish I had known that you dont need to be right with your first iteration of your busines s pl an. Young

    busines ses naturally deviate from their roadmap as the founders ideas about what will work get tested by

    reality. Smart entrepreneurs lis ten to the feedback they get and adapt. Matt Lally http://imaneed.com

    46. I wish Id unders tood the incalculable value of having jus t the right executive ass istant, someone who can

    leverage your time and actually be an extension of yourself. - Barry Maherwww.barrymaher.com

    47. I wish I had m ore marketing skills to take my business to the next level. At this point I have to hire

    som eone as I am sup er limited in this area. Deb Bailey http://www.powerwomenmagazine.com

    48. Ive learned that I cant micromanage everything, no matter how much I want to. Sometimes you have to

    delegate certain responsibilties to others. Not only did this help keep me s ane, but it was good for team

    building amongst employees. Lev Eksterwww.cupcakestop.com

    49. I wish s omeone would have explained the difference between sales verses marketing. Tom Pryor

    WWW.SBDCEXCELLENCE.ORG

    50. I wish I knew depth of the thought process needed in s tarting a business , especially on a personal level. Iwish I unders tood how my thoughts would affect my business . Jennifer Ann Bowers

    http://rosebridgecreations.com

    51. I wish I understand cash flow. I figured that as long as I brought in lots of bus iness , the business would

    be great. Cash is king and always keep MORE of it than you forecast or expect to need. Ryan Kohnen

    www.ryankohnen.com

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    52. I wish I had taken a clas s, or gotten practical experience in, using bus iness accounting software. The

    investment wouldve been minim al, and it wouldve s aved me (and m y accountant) hours of frustration.

    Additionally, I wish I had spent a few bucks on an accountant to set up m y books properly. Shane Fischer

    www.fischer-law.com

    53. What I didnt know then was the value of networking. You never know where bus iness will com e from. And

    having friends and acquaintances from poli tical, business and s ocial circles m ay prove to be your best new

    busines s referral! Melissa Stevens www.fkmagency.com

    54. I wish I completely understood what cash flow m eant and how im portant it is to live within a budget and

    how im portant it is to hire the correct people, rather than jus t able bodies. Kelly Delaney

    www.cakes4occasions.com

    55. The one thing that I wish I would have known before going into busines s m ore, was my own strengths and

    how I use them on a d aily basis. Jason C. Raymerhttp://www.bluegrassautoglass.com

    56. Trademark/ Copyright info 3 months after we had s tarted one of the busines ses we had to completely

    scrap all the branding and build a totally new s ite, social media, EVERYTHING due to a legal i ss ue regarding

    trademark. Sarah Cook http://www.RaisingCEOKids.com

    57. I wish I knew how to proficiently do marketing via the web, newsletters and blogs. The other key thing is to

    get the right coach. I eventually used www.onecoach.com, headed by John Assaraf of The Secret, who finally

    helped me pull m y busines s together. Nancey C. Savinelli www.naturalhealthctr.net

    58. I really had to understand the basics of busines s and how to capitalize on the s mall opportunities to

    given to me and turn them into larger than life success stories. Darren Magarro www.thedsmgroup.com

    59. I wish that early on I had sought out more bus iness leaders in my field. It wasnt until I was a bit older that I

    realized the value of the knowledge to be learned from veteran indus try players and how i t could help me grow

    my business. Jim Janosik Aladanmediagroup.com

    60. I wish I had serious ly thought about branding and the longevity of the brand. Looking back, I should have

    thought about what was going to define m y company, what would be a look that would last for years and not

    go out with the trends, and what image I wanted my customers to s ee when they first started researching m y

    company. Katie Webb http://www.becomeintertwined.com

    61. If you have taken the time to think through things (price, service, contracts, delivery) dont be so quick to

    change it up jus t because a C lient wants you to. Joni Daniels http://www.jonidaniels.com/

    62. I wish I knew not to expect things to happen for us. Often times, we were waiting to get lucky and not

    making our own luck. We learned that nothing is going to get handed to us on a s ilver platter and if we want it,

    we have to go out and get it. Ben Lererhttp://www.thrillist.com/

    63. At the time of founding it I was so focused on survival I didnt think about the exit strategy. Laurence J.

    Stybel stybelpeabody.com

    64. I wish Id know how much eas ier it is to build a business around an established m arket thats already

    looking for a solution to its problems rather than trying to build the m arket around the business I wanted to

    start. John Crickett http://www.businessopportunitiesandideas.co.uk/

    65. How challenging it is to get people who request our s ervices to pay. Since we are a nonprofit/comm unity

    organization, everyone thinks our services are free because of grants or corporate giving. Candi Meridith

    www.GoodForYourself.com

    66. You have to have to have some s ort of passion in order to be succes sful. But no matter how much you

    want to believe it, doing what you love because you love it and doing what you love as a bus iness are different.

    Dont expect every day to be bliss. Andy Hayes www.travelonlinepartners.com

    67. I wish I knew it didnt take tons of money to get started, so I would have started it s ooner. I think that holds

    a lot of people back. Candy Keane http://www.ThreeMusesClothing.com

    68. When I was opening my first business , I made the near lethal error of leasing a bus iness location without

    a plan. Once I got in the location I had to do three times the am ount of marketing necessary just to contend

    with the competition. I spent m ore on m arketing than I would have spent on the extra rent of a better spot on

    the street I was on. S. Zargari www.assuranceadvertising.com

    69. I would have spent more time selecting the mos t qualified technical resource by interviewing m ore people

    more s trenously to ensure we got the mos t talented resource for our moneyboth short term and long term

    Jennifer Myers Robb http://www.hergameface.com

    70. Get a coach s omeone who can walk you through the jungle to get you to the gold. Why bother flying blind,

    when others have blazed the trail before you? Starting a busines s without a coach is like getting in the car and

    driving. Sure you can moveand fastbut using a map is s o much s marter than not. Richard J. Atkins

    HTTP://WWW.IMPROVINGCOMMUNICATIONS.COM/

    71. I wish Id known i t would not be enough to know m y stuff cold. (Im a subject m atter expert, but the samewould apply to someone with a product.) You have to really know (or be willing to learn FAST) how

    to market yourself and have a plan to do it. Judy Hoffman www.judyhoffman.com

    72. I just wish I knew how much free goods I would have to give out in order to promote my products. Jacqui

    Rosshandlerwww.eat-whatever.com

    73. I wish I knew that there was a fine line between sel f-employment and un-em ployment. Second, I wish that

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    I knew more about the competitiveness of my type of busines s and had s pent some tim e interviewing people

    who were s uccessfully doing what I wanted to do. Cyndi A. Laurin www.guidetogreatness.com

    74. I wish I had known that starting a busines s would give me s o much happines s, and worry. I knew that it

    would be hard, but I had no ideas of the hills and valleys that would come w ith being a busines s owner.

    Shay Olivarria www.BiggerThanYourBlock.com

    75. I knew that starting a bus iness was going to be a lot of work, but I didnt know much work and that it was

    going to go s lower than I had expected. I wish I had known that there was going to be a lot that I didnt know,

    but that its ok becaus e Ive figured it out (and am s till figuring it out!) along with way. Grace Bateman

    http://www.perupaper.com

    76. Everyone will not be happy or s upportive of you starting a bus iness or succeeding in it, and thats okay, asyou do not need their nod, their vote of confidence or their praise you have your own. Anahid Derbabian

    www.integritycommunicationsco.com

    77. Dont work with your spous e. If you want to wreck a marriage, be together 24/7 with one p erson exerting

    power over the other. Susan Schell http://www.citadeladvisory.com

    78. Relationship Marketing I wis h I had understood the importance of s taying connected with pas t clients

    and nurturing relationships with current clients. Your personal life, your spiritual li fe and your professional l ife

    is all about the relationship. Sandie Glass http://www.sandstormideas.com/

    79. I wish I would have realized earlier the importance of having a core group of target customers. Find a

    handful of people and build a trust with them. Test various products and services on them and eventually use

    their passion and your business to fuel evangelism to grow as you refine your busines s m odel. -

    Dayne Shuda http://huntingbusinessmarketing.com

    80. If youre young, and especially if youre a woman, you may be tempted to undersell your product or service

    or worse, give them away in order to get into the game. Dont. Set up a pricing structure thats i n line with

    your business plan and allows you to grow your business. Ruth Danielson http://www.msmarketintel.com

    81. I wished I had learned about the need for business systems and process docum entation and why they

    are important. I have found they are a life saver to developing a work environment that thrives since everyone

    in the company knows what they are supposed to be doing and can easily reference the steps . Adam Sayler

    http://arthurwinn.com

    82. What I wish I knew before I started a busines s was a really great business advisor! Most of us go into a

    busines s with a big heart for the product and lots of excitement. Few of us really know how to run a busines s.

    Kelley Small www.smolakfarms.com

    83. I wish I knew how long it would take to build a steady stream of clients and establish s trong relationships

    with customers and vendors. - Alexis Avila www.preppedandpolished.com

    84. I didnt take into account what being a home bus iness owner would mea n I mean Im in m y house a

    lot! I have to eat 3 times a day and there are very few delivery places where I l ive s o making a mes s in the

    kitchen 3 times a day, and cleaning the office myself. Maria Marsala http://www.ElevatingYourBusiness.com

    85. I wish I had known how dem anding entrepreneurship is on the entire family. It took me months to realize

    that they were giving as m uch or more than m e by picking up the slack around hom e and giving me s pace to

    pursue a dream. Carrie Rocha http://www.pocketyourdollars.com/

    86. To be patient. When I first started, I expected results instantly. Id get frustrated when things didnt work the

    way I planned. Luckily, I didnt have any hang-ups about failing, so I kept trying new things

    and sl owly built upon those things that worked. Naveed Usman http://www.theusmangroup.com

    87. How much m oney would I make in the first couple years of operation. Obviously, this answer would of told

    me to find a s teady job and do this on the s ide until I really got it going 3-4 years later. Marc Anderson

    TalktoCanada.com

    88. I wish I knew that cash flow was nt the sam e as profits, that employees are not paid friends and that you

    should always trust but never let anyone open your bank statements. Anne-Marie www.brambleberry.com

    89. The one thing I wish I had done differently is not spent money on advertising offers that dont pay off. This

    is bus iness people dont often do things out of the goodness of their heart. Ive learned to be a lot more

    skeptical of opportunities I g et offered. Adrien TheNakedHippie

    90. One piece advice I would give to people jus t starting up that I wish knew is that success is les s about the

    idea and more execution. Dont wait until you have the great idea or have refined all the plans, jus t get

    som ething up and s tart iterating. Ben Hatten www.legalriver.com

    91. How im portant it is to network, instead of attempting to fly solo. Fortunately, my belated learning didnt

    negatively impact my company for too long but the soaring would definitely have occurred

    sooner had I considered the value of self-promotion. Marlene Carose lli www.caroselli.biz

    92. I wish I knew how much m y time was really worth and the best way to set my rates. I made an early

    mis take by charging too little and booking myself s o tightly that I didnt have enough time to work on som e

    projects the way I wanted to and I couldnt hire anyone to help me becaus e I didnt allow for the added cost.

    Susan Bender Phelps www.OdysseyMentoring.com

    93. I wish I knew the im portance of networking when I first started my web design company. It took me a few

    months to realize that referrals and networking are the best types of leads . People want to do busines s

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    Like

    with people they like! Becky McKinnel l www.iBecCreative.com

    94. First, that being su ccessful caus es growing pains that are a major headache. A good headache to have,

    but difficult challenges nevertheless . Second, it would have been nice to know it can take a year or so for

    things to take off. Starting a bus iness can be frustrating in the beginn ing and you really have to be determined

    to succeed. Nick Veneris Xomba.com

    95. Dont listen too closely your friends who might be good busines s people but who have never started a

    busines s. They mean well, but their assum ptions are way different as an employee of a company than they

    could ever be as a principal shareholder in a busin ess . Elizabeth Pitt CaregiverNeeded.com

    96. I wish that som eone had told me that managing a bus iness isnt about numbers, but rather all about

    people s kills. During m y first managem ent foray I fell face first in the dirt. People called me a micro-manag erbecause I got too much into the ni tty gritty of how to do the job rather than allowing them to find their own way.

    Steve Richard www.vorsight.com

    97. I wish I had known that starting a busines s requires you to ride an emotional roller coaster. You can go

    from the highest highs to the lowest lows in a matter of hours because a s tartup company always s eems be

    on the verge of either collapsing or taking off like a rocket. Now making m y business grow is all the m ore

    exhilarating becaus e I s urvived demoralizing low points to get it off the ground. Alex Andon

    http://www.jellyfishart.com

    98. That it is OK to trust your instincts even when they are not necessarily backed up by years of

    finance/accounting or business school credentials Jenn Benz www.benzcommunications.com

    99. Less tim e spent on paid m arketing/advertising efforts and more time screening and bui lding strong

    partnerships with influential journalis ts, writers, editors an d television producers. Philip Farina

    http://www.farina-associates.com

    100. I now know that busines ses are extremely organic & have a way of taking on a life of their own now I

    know that though things dont always work out as planned, there is always another opportunity around the

    cornerunderstanding this from the beginning would ve saved me a lot of stress ! Rina Jakubowicz

    http://www.rinayoga.com

    Now thats a l ot to take in before you start! There are a lot of hardships , problems and things to cons ider but to

    sum it up I think Kat Gordon ofwww.maternalinstinct.netsays it best In short, I manage my own destiny.

    And Id have it no other way.

    Contest Announcement: BizBreak & Under30CEO PresentLimitless VC Contest. You will have a chance to

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    2 people liked this.

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    Debraj Banerjee 9 hours ago

  • 8/4/2019 Young Entrepreneur Advice_ 100 Things You Must Know! _ Under 30 Ceo

    7/13

    Awesome 100 points for those who faced the real circums tances and I agree on each and every point being a

    Busines s owner. But, nothing is tough if you are focused and then s tay focused...

    2 people liked this.

    I'd been through all these rough patches.but, business is way too interesting like a " off road track" on a

    motorcycle....:-) here is my company website: www.conceito.in

    I think it is a great article. I wish I would have known much of this or had som e great guidance when I first got

    started. I think the best advice is to know your target market too!

    http://www.alwaysunderpay.com

    Debraj Banerjee and 1 more liked this

    Rarely I read through a so long article, but it is really good!.

    asanvicente.wordpress.com

    Debraj Banerjee and 1 more liked this

    Have a plan. Many busines ses only bother putting a busines s plan together when they need funding, but it is vitally

    important to know where you want your busines s to go. Just yourself? A team? World domination? OK we can all

    dream, but bear in mind that every busines s had to s tart som ewhere, and I would guess that many people spend

    more time planning their holidays than where their business is going to end up.

    And also appreciate risk - having one big cus tomer instead of hundreds of sm aller customers is eas ier to

    adminis ter, but it is risky. The same principle for suppliers and product lines (imagine only having 1 product and it

    gets a bad review?).

    Debraj Banerjee and 1 more liked this

    YOU SUCK!!!!!!!!!!!!!!!!!!! THIS IS THE WORST ADVICE EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Have a nice day.

    2 people liked this.

    U ARE RIGHT!

    1 person liked this.

    THIS IS HAHA YOU SUCK

    1 person liked this.

    This is som e really great advice and have already forwarded to many others! While some I already have

    experienced and can relate to, it always good to know what to expect before it happens.

    Kristen Sonsma

    Chief Busines s Development Officer

    www.bsquareclothing.com

    Be sure to 'Like' us at www.facebook.com/bsquareclothi...

    Debraj Banerjee 9 hours ago

    Jeena 4 days ago

    Arturo San Vicente 2 weeks ago

    Nick Goddard 1 month ago

    Hahahahahahahaha 2 months ago

    HAHAHAHAHHAHAHAHHAHAHHAHA 2 months ago

    HAHAHAHAHAHAHHAHAHAHA 2 months ago

    Kristen 8 months ago

  • 8/4/2019 Young Entrepreneur Advice_ 100 Things You Must Know! _ Under 30 Ceo

    8/13

    @bsquareclothing

    Debraj Banerjee and 1 more liked this

    29. Several years after starting my business I learned that the best s ource of advice and peer supp ort are fellow

    entrepreneurs, especially those who have attained the level of business s uccess to which I aspi re. Charles E.

    McCabe http://www.vaceos.org

  • 8/4/2019 Young Entrepreneur Advice_ 100 Things You Must Know! _ Under 30 Ceo

    9/13

    Everyone is in sales & selling al l the time.

    Cash-flow now - prioritize tasks required to get money into the bank.

    Cash is king.

    Cash in King! Great additions. I think they are brutally honest like people ripping you off and behaving like you

    trust everyone. Its true though and people that realize this will see success .

    #1 Cas h Flow is King. You have to bring in money faster than the money that is leaving.

    #2 Finding new customers should be the one thing that keeps you awake at night.

    1 person liked this.

    Great read. Accounting for time is probably one of my additions to this extensive list. Once you learn (apps search

    time management) how to utilize today's technology to account for every minute, about four weeks later you become

    sick to your stomach an d it turns in to ruthless tim e m anagement. People think I'm crazy...if you can't account and

    manage a minute, forget the dollar.

    The need to develop and m ature the entrepreneurial ins tinct is the key to sustainabili ty and gaining competitive

    edge in the s tormy weather of the business world. Be patient and you will m ake it. It's a m arathon and not a sprint. A

    bend and never an end.

    Completely agree! Its a marathon. You have to stick it out and if you keep pushing you will get there. But

    nothing comes quickly.

    Awesome awes ome l ist. So wonderful to hear about everyone's reflections on the topic. I agree with Jared that it is

    nice to hear others s truggling with similar is sues . Great advice.

    #6 is so true... >.