You’ve dreamed about it, planned it all out for months or even years, and now you are ready to spring into action. However, actually starting a business can be a grueling and emotional process. Here are some pitfalls you can avoid with some careful planning.
Friendship and business don’t mesh.It’s very tempting to want to work with your friends and family, but unless you are considering people with a proven track record and solid experience, this is not the best way to proceed. Choose your partners based on what they can bring to the table professionally and save your friends for the celebrating once it all comes to together.
Decide who the boss is upfront. As you move forward it is crucial that you have a strong understanding with those involved as to who is the real boss. Are all decisions going to be group decisions? Do you have the ultimate veto? Lay all of that out clearly and save everyone weeks of grief down the road.
Leave your ego at the door. If your business is successful there will be other people relying on it beyond you. So work from a place of what’s best for the company and the people it employs. This often means being flexible about your vision and making changes you may not want to make. While you want to always maintain the integrity of your dream, the execution requires shifts and you will want to be very open to those moments.
Find a balance. Starting a new business in extremely consuming. Your time and energy will be directed at the many needs of your new venture, and your passion about what you are doing will motivate you to lose a lot of sleep. Keep in mind a new business does take time. You need to keep perspective on the other areas of your life that are important to you, as well as your health. So take a break, turn off the computer, leave the office and allow yourself to walk away from it all from time to time. In the long run, it will help you think more clearly and be more effective. The journey is just as valuable as the goal. So take a moment to truly enjoy wherever you are in the process.
Success leaves clues. Sometimes we get stuck and inspiration doesn’t always flow. Keep a notebook with tips and strategies from other businesses, even ones that are not at all related to yours. Compile as many notes, pictures etc. as you can so when you feel discouraged or uninspired you can get a little boost from others who have traveled the road before you.
Anne Leedom is the Founder of Net Connect Publicity, TeenPalz.com and Parentingbookmark.com. She has launched and developed businesses for herself and a wide variety of clients for more then 27 years. She is frequently quoted in national media. She lives in Northern California with her two daughters. For more information visit www.teenpalz.com and www.netconnectpublicity.com.
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