I recently gave a talk to a group of students at the New England Institute of Technology about my experience of starting a small business. I had a blast talking to the students. Here are some topics I spoke about.
You need to be a people person. If your not, find a business partner that is. If your rich, hire a PR firm.
You really need to be good at what you do. If your not, take the time to hone your craft and then make the plunge into starting your small business. A great way to get your “chops” is to freelance.
Get to know your business partner (if you have one) before starting your business. I would say at least 6 months.
Write a freaking business plan! Just do it, get help if need be.
Save your money before making the jump. At bare minimum 3 months of reserve cash.
Get an accountant that you trust. If you don’t know any accountants get a referral from a family member or friend.
Remember to grow your business. The only thing in life that is for certain is change.
And finally the NUMBER ONE RULE is to NEVER STOP LEARNING. No matter what!
Knowledge creates marketability.
-Pat Hughes