10 Things to Know About Startups

  1. You’ll never be your own boss.

    If you are starting your own business to be your own boss, THINK AGAIN! Every client/customer is your boss. Being your own boss is fictitious.

  2. Know YOUR startup more than anything else in life.

    Understand all the moving parts of your startup.
    One day you will be able to hire people that can take on tasks, but on Day One – YOU must be prepared to handle it all.

  3. Be Relentlessly Resourceful.

    Understand what you’re great at and do it yourself.
    Understand what you’re good at, and learn to be great at it.
    Understand what you’re terrible at, and find the most cost effective way to get it done.

  4. Have clear and realistic expectations.

    Set expectations, and don’t give up. Yes, it’s cliché; but ultimately true. Nothing great happens overnight, and it certainly won’t come easy.

  5. Spending your budget Spend around 10% on a site.

    On Day One – basics explaining who you are, what you do and some relevant content is sufficient. 30% on a CRM (customer relationship management system) to track engagement and communication with prospects/customers. Spend most of your budget on digital marketing to get people to your site.

  6. Be prepared for long workdays.

    Expect extremely long work days, especially in the first couple years. Your work hours will lessen as you grow, but blood, sweat and tears are what make your startup dreams come true.

  7. Watch the market and react.

    You did your research and developed your product or service. You will learn that trends constantly change and you must adapt based upon how people are utilizing your product or service.

  8. Remember Iron sharpens iron.

    Surround yourself with people in the spaces you want to be in or who can help make you better.

  9. The market can be saturated, but be nice!

    When a potential client/customer is comparing relatively equal companies (product/services and cost), personality will separate you from the rest. Be nice, be willing and show your customer that you care about them.

  10. Look into Coworking!

    Coworking provides you a space to surround yourself with like-minded professionals who are in the midst of their own entrepreneurial journeys. The human interaction will keep you sane and productive during the trying times as you build your startup. Simply bouncing ideas around goes a long way.

    Group cover photo

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