8 Things You Should Do When Starting a Business

October 15, 2018

 

 

Like most of you, my email is inundated by daily lists of 5 Things this, 7 Things that. Since this is the latest trend for anyone giving advice about anything, I thought I might as well do one. I think I am suffering from FOMO on having a numbered advice list!

So, after 5 years of daily meetings with entrepreneurs, here is my take on:

 

8 Things You Should Do when Starting a Business

 

#1 Figure out who your customers should be, what value you give them, and prove it.

#2 Figure out how to get them to pay you for that value and how much they will pay.

#3 Figure out how to get lots of customers.

#4 Stop wasting time reading lists written by people that have never started a business! (Starting a company is not a checklist venture.)

#5 Find a mentor, or mentors who have experience.

#6 Find an attorney you trust, open bank accounts, rent buildings, get business licenses, setup accounting systems, get insurance etc.

#7 Repeat #2 and #3 over and over and over.

#8 Don’t be afraid to change any of your original assumptions about #1 – 3.

 

Wow, I feel so different now that I have written a “list” of my advice. So much cooler.

This is by no means everything you need to do, or how to do it. In all honesty, the “list” would be exhaustive. But please understand the importance of #1-3. If you don’t get those right, the rest of the list doesn’t matter.

Now you have the Biz Foundry’s general theory of entrepreneurship!

My cool new list has generated a year’s worth of content for me to write about.

Thanks for reading,

Jeff

 

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