jason white

The humble beginnings

I was recently inspired by Lynda Harvey (@luckyharvey) to share some thoughts, Lynda posted a blog that shared her experience over the last year running her business “the wine place“, it imparted some good advice to those in a similar position or starting up in business for the first time.

I decided to take the 5 headings Lynda used and fill in the rest…. I warn you I’m by no stretch of the imagination a financial advisor, do not take anything I write here as good advice, it’s probably not! What I have to say is not for the feint hearted or the purists among you. If you know a better way then I invite you to take the 5 headings and share your thoughts too.

1) Money Money Money!

You’re going to need to be resourceful, almost certainly you do not have tones of money especially in this economy, and you’re going to need some. Remember it doesn’t need to be yours, if a bank won’t lend it (which they should but that’s another post) then look around you, maybe you have family or friends that will lend it or even buy into your idea. If not then consider credit cards, but if you do this make sure your certain it’s a short term thing, aim to have the cards paid back before the zero % on transfer deal ends or it’s going to get uncomfortable.

Lesson 1. If you want to do it, you’re going to need some money, find it!

2) Believe

Seriously, believe in yourself first! If you can’t do that then quit now. So many people are going to tell you that your crazy, your risking this and that, people will ask “are you mad?”. You will question yourself because you are sane, and sane people are rational, you will rationalise but do not second guess yourself.

Have faith that you are capable of good decisions, your own decisions, ones born from your ambition and vision. Remember, it’s ok to make mistakes; in fact mistakes are great teachers.

At the risk of sounding slightly cheesy; you really are capable of almost anything, your success is directly proportional to your self-belief. Start believing damn it!

Day to day, people will question your decisions, that’s ok; it’s an opportunity to sense check yourself. But once you commit, commit, all eyes are on you and you’ve got to make believers out of them. Your confidence and belief will be contagious!

Oh and remember the competition suck, real bad! Everything they do wrong you’re doing right and everything their doing right you’re doing better.

Lesson 2. Be strong and confident, make it happen!

3) Keep it Simple

Keep it simple, really it’s that simple!

Focus on the vision, if you hold stock keep it tightly connected to your primary business.. If for arguments sake you manufacture the finest coffee in the world you might decide to sell some instant varieties too, hell you might even do something outrageous like sell coffee mugs. But don’t go adding tables and chairs to your product line based on the premise that because people often sit on them at them while drinking your fine product they’ll buy them from you. You’ll confuse matters, yourself and customers.

Lesson 3. Focus on the vision, keep it simple.

4) Fail to plan, plan to fail.

Don’t write a plan, they take ages to write and far too long to read! I’ve never met a bank manager that has the remotest interest in the content of one, from what I can tell their just required as part of the banks due diligence process during the account creation process. A good bank manager and a cracking elevator pitch will see you do well here, they (the bank manager) will guide you through the process in the absence of “the plan”

Don’t misunderstand me, the bank manager “ain’t no fool”, if you sound like you don’t have a clue, the lack of plan will confirm that assertion and you’ll soon be leaving that meeting ahead of schedule with a boot up your bum.

“How will you know if you’re succeeding or not if you don’t write a plan?” I hear you ask! Well, it’s like this… If you don’t know whether your succeeding or not then your probably not, on the other hand when you are, you’ll know.

You do have to have a plan though, it just needs to be to stick to the vision and have a great elevator pitch to support it. Not for you, for those that will ask.

If you “feel” like things are going wrong, check! Sometimes they will and sometimes it will be really wrong, maybe even time to call it a day. You’ll know because you can trust yourself remember, to make good decisions. See item 2.

Lesson 4. Don’t plan yourself out of business.

5) No man is an island

This is the hardest one for me, I like to know what’s going on _all the time_, I’m constantly “sticking my nose in”. I’ve gotten better over time and I’ve learnt to delegate, which is something your going to have to do, that is unless you want to earn yourself a stress related illness (and that can happen, I know first hand!). Assuming you want to grow your business beyond a “one man band”, you’re going to have to get used to the idea that you can’t do everything yourself.

Don’t do the networking groups unless you want to be “sold at”, really! Also when you start up in business you’ll suddenly have lots of shiny new people all wanting to show you what they can do for you; ignore them all, unless they fit in with the plan (that you have in your head).

Do get out and talk to people “one on one”, visit local business, go buy a product from other small business and while your there get _your_ foot in the door!

Now find some people that you can trust, really trust and bring them on board also take advice from people that have trodden your path, (caveat) but don’t hold it as gospel.

Lesson 5. Find people you can trust and spread the word!

So that’s it, my five things about business… Oh and follow your instinct, yes I sound like a broken record but it’s the most important thing to remember, Ok!

Finally, it’s a cliché, you have _no_ friends in business!

Enjoy