Build a business, not a hobby: Five tips for starting out
Readers talk back
Must reads site wide
I was asked some questions for Kirsty Dunphey's newsletter so I thought I'd share some of them here too.
What five pieces of advice would you give to someone wanting to start their own business?
- Know the difference between a hobby and a business – what is the market size for what you are planning to launch?
- Love what you do and do what you love – if you love what you do you will never have to work another day in your life.
- Systems will set you free (1% idea – 99% execution).
- Understand cashflow. There is no business without cash in the bank – even if you are making a profit on paper. Business models evolve over time.
- Have a clear vision of what is your noble cause – you've got to know where you are going to make the first step. How do you want to make the planet a better place?
If you can operate from love and passion anything is possible.
"Companies either operate from the fears of the ego or the love of the soul." – Richard Barrett.This story first appeared on SmartCompany
While discussion and debate is welcome, we do not tolerate name calling, personal attacks or other forms of abuse, and reserve the right to delete any comment we don't deem appropriate.comments powered by Disqus