Basic Training: Things That Go ‘Boo!’

Posted on May 22, 2014 in Planning & Advisors

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Happy Hallowe’en! Scarier than horror flicks and costumes in the NYC Village parade is the lack of “grasp” that many entrepreneurs have about the businesses they claim they want to start. They’re looking for the BIG PAYOLA (“I want to start a lotto-type business . . . kinda like my state’s lotto but different”). Or they get w-a-a-a-a-y ahead of themselves in their planning (“I will start out as one shop in a mall . . . then grow to four locations . . . I would only need to hire about six employees and no managers, right? . . . but I want to expand into other areas of the U.S. . . .”). Or they get hung up on titles (“If I run the business, does that makes me owner AND manager?’)

Here’s what my father always told me: “Go look it up.” Sure, you may need to consult with experts for the nitty-gritty. But if you want to know, for example, how to sell handcrafted jewelry online, start doing a little background reading. Don’t expect people to spoon-feed you the path to your dream. Pick up the Dummies guide to Starting an Online Business. Want to know about business management and operations? Start with Michael Gerber’s The E-Myth Revisited.

Educate yourself first about the business you say you want to run–then go ask questions.

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