As many of you know, Jesse and I will be starting a business in the near future (Summer 2008?). This entails writing up a business plan, mission statement, budget and so on... Many fellow business owners have given us valuable advice:
1. Do not underspend on marketing...you get what you pay for!
2. Underestimate your earnings and overestimate your costs.
3. Start small; you can always expand later.
4. Develop your purpose, goals and priorities first and let the business plans always reflect them.
5. location, location, location!
Thank you for those who have contributed!! If you know about starting a business (or your just really smart!!) and you knew then what your now...what would be different? What are key points of advice you could offer to us?
Thanks!!!!!
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2 comments:
i would add:
1. whatever your business is, make sure you identify and match a 'need' of your customer.
No personal advice, but we are reading a book in Regnum Christi called "Good to Great, Why some companies make the leap and others don't" which is supposed to be really great! It's by Jim Collins.
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