Advice to Aspiring Entrepreuers

So, in 2007 I got the news, my six figure cushy job was going away. I didn't know at the time but it was the start of the so-called 'great recession', and not only my job was being eliminated, but the jobs of millions of American's were in jeopardy.

The first thought I had was to get my resume out to as many people as possible. Gmail only let me send "X" number of emails in a day, and I maxed that out quickly and google turned off my email for 24 hours. I sat there hoping that someone had seen my resume, and would either refer me to a hot job prospect or maybe even hire me quickly!

That didn't happen.

My next thought was, what can I do to make sure this never happens to me again.

The only thing I could think of was, start my own business!

The first person I sought out was an old boss of mine who had sold his first company for $20MM and his second company for $15MM. I knew he would have some great advice for me, and could steer me the right way, and help me make the final decision.

His advice was: "Don't do it!"

How could I possiblly listen to a guy tell me to Not Do Something, when he had done it, twice, and lived next door to Tiger Woods???

I figured out pretty quickly that I only heard the first three words, Don't do it! and that he had actually said something else: "Don't do it! Unless....."

Unless what? Unless I dont have any other options, Unless I am crazy, Unless I have a great work ethic working alone, ...Unless I have a great idea no one else has? Unless WHAT??

He said, "Unless, you know you can succeed and no one can convince you otherwise".

I started with an PC and a Desk. That was it. The PC was slow by today's standards, and I had no idea where it would take me. I still have the same desk, newer chair, and am on my fourth computer, but the dream remains the same as it was on day 1.

So, what's the purpose of this post??

On Friday, I went to the doctor, and while the nice lady was drawing my blood she asked me if I would talk to her husband about his business that he had started. She said, "Maybe you can convince him to work harder. He thinks that until the economy turns around, he can't find business".

RULE ONE: You are crazy if you start your own business, UNLESS, you are convinced that there are customers who need you and want you. And No One can convince you otherwise!

RULE TWO: Be prepared to work more hours, make less money, and have more stress than you have ever had in your life. And be prepared to thrive on it!

RULE THREE: Consider taking on a partner. Only take on a partner if they are Smarter Than You Are!

RULE FOUR: Only work with people who are as driven, and as excited about your company as you are.

RULE FIVE: Don't ever give up. And when you do, don't tell anyone. Because if you give up one day, you will regret it the next. When you give up, take a break, come back and try again. Repeat as necessary!

RULE SIX: Don't risk your family's future. I did, and so far it looks like it will pay off, but if at all possible, try and have a second income for your family. I didn't but somehow have survivied.

RULE SEVEN: Find customers who Like You! Don't deal with people who won't help you grow your business, if you have done a great job for them. Referrals are everything!

RULE EIGHT: Don't be afraid to try new things. You can become an expert in a hurry if you research your new product or offering, get one customer, and make sure that your trail and error is invisible to them.

RULE NINE: Finding customer's is the hardest thing to do with a new company. Your first and second customer should be done almost at cost, just get the customer, get a reference, get a starting point, do a good job, ask for referrals, use that customer when you market to others, don't try and make money on the first few customers....they will appreciate what you are doing for them, and it will pay off ten fold.

RULE TEN: Pray.

More later....have fun, and if you are interested in starting your own company, Don't Do It...Unless....