If you want to know how to setup a small business you will always be confronted with the following two issues: money and people. Why? Because startups often never have enough money and the investors are usually a pain in the a…
Watch this amazing video with Adeo Rossi, CEO of the Founder Institute talking about the hardships of being a founder.
How many times have you asked yourself how to setup a small business? Come on…. be honest.
If you are one of the many employees who don’t like their jobs and thought of becoming an entrepreneur, than you should take Adeo Ressi’s advice on how to setup a small business very seriously.
- First of all, you should totally love what you are doing because it’s going to be brutal! The labor and effort required is inhumane. You wouldn’t dare to treat your dog the way you will often be beaten upon.
- Second, you need to do your due dilligence and research the market. You have to know what people want, otherwise the process is going to be very painful. If you decide to go for one of the ideas that pops up in the shower, you better check the market thoroughly before you enroll.
- Third, be fully aware of your TO DO and DON’T list. Procrastination is the word you are most likely looking at… If your accountant or lawyer comes up with a 100 pages document about your business – you will have to read it. No excuses whether you like it or not. It’s a process all of us entrepreneurs ‘break’ through.
Everytime I’m around employees who are looking for information on launching their own company the most frequent question that pops up is how to setup a small business.
This is why I decided to write a blog post about this topic. I found Adeo Ressi’s video very helpful to giving startups a quick but highly valuable response.
Personally, I consider passion to be one of the key ingredients to success.Passion will give you the necessary juice and energy when difficulties appear along the way. But you also need to be aware of the fact that passion alone won’t lift your business to the next level. Besides passion you will need a great team, a proven business plan, a set of business skills along with other human drivers such as determination for example.
What is your experience in this area? What were some of your biggest challenges?
I would love to hear your comments on this topic. Please feel free to share your valuable insights on how to setup a small business.