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4 Things to Consider Before Starting Your Own Business

January 8, 2012

It is the New Year and many of us (ok, a few of us) are still going strong with those New Year’s Resolutions.  If you are like me many moons ago, my resolution was to go out and create something on my own — no more working for the big man — little cottage industry is where I want to be.  You all know the big risks — lack of money, lack of time, lack of resources — but I wish someone had fully prepped me for the little things that I miss dearly.

Here are the top 4 things you should consider.  Why 4?  Because you are an entrepreneur now — you need to think differently.  The number 5 is sooooo 2011.

1. Expense Account Is Lacking

Actually it is non-existent.  It is hard to go from a Gold Member on American to a piece of cattle on Spirit.  Even harder to get a good nights sleep at the Red Roof Inn when there is a questionable stain on the bed spread.

2. Fashionistas Beware

Working in Advertising, our clients loved when we came to town.  We were the fashionistas and we loved to dress the part.  Those of you that have followed us from the beginning may remember one of our first blogs where I describe walking into a factory meeting in a “questionable” neighborhood dressed like I was getting photographed for the cover of Vogue.  Witnessing a drug deal and drive by shooting, I never knew how fast I could run in heels. That was when I realized that I was trading in my heels for sneakers; runway dresses for yoga pants; briefcase for body-guard.  Sigh

3. Build it and They Will Drive Right By

You have all seen the South Park episode which spelled out the following business plan:

Phase 1 — Have a Great Idea

Phase 2– ???

Phase 3 — Profit!!

When we launched our website for Smashing, I cleared my calendar.  I made sure I was available all day to fill, pack and ship orders.  Because we “built it — they’ll come.”  Needless to say, that first day I spent looking online for yoga pants.  Customers aren’t free — you need to find them, entice them and keep them.  We find the best way to keep each customer is to find a good piece of blackmail on them — it will really launch us to Phase 3.

4. Invest in Good Eye Concealer

I’m pretty sure United is going to start charging me $30 for the bags under my eyes.  I knew I’d save some money on dry cleaning my expensive suits, just didn’t know those savings would need to be reinvested into my makeup.

 

If you can handle finding a good eye concealer, yoga pants (ughh) and the Red Roof Inn — well, then you can handle just about anything.  Good luck to all you future entrepreneurs.

 

 

Spinner is a Managing Partner at Smashing Golf & Tennis and mother of 3.  She is a mediocre tennis player, a really God awful golfer, but can tell a killer knock knock joke at the dinner table.

 

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