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Small Business Resources
Hey Warren. Your background is very impressive. As a 1st year student in university, I would love to have the credentials you have. My question is how do I bring an idea from paper to life. I want to create a business, but I'm not exactly sure what. I've considered a bookkeeping service to start off as I am majoring in accounting, but I'm not sure yet. Still, I want to start a business nonetheless.
Hi Kazim! You made my day (until my wife laughed hysterically). Let me give you 2 different approaches and you can pick which feels right for you... But you will notice that both are based on the need to be properlyeducated. Here's why: almost 80% of small business won't make it to their 10th year. 65% won't see the end of their 5th year. A major reason for these rather disturbing statistics is that the business owners don't know enough about how to grow a business. You took lessons to drive a car; take lessons to drive your income. 1) You're a young person. You have time. Too many people coming out of school want to go for the big bucks right away. You will do yourself a big favour if you go for the big learning rather than big bucks. (If you can get both, then go for it!) Take a job with someone who is highly successful at what they do. Do it for less if it will get you closer to that person. You can even say "I'll work for you for little if I can work directly with you a certain amount of time each week". You want to see how they sell, how they talk to people, how they manage what they do, how they think, what they do to learn. And also, what they do that limits their success. You may even want to do this a couple of times with different people. Once you see what makes people successful, you can then go do it yourself. 2) Learn, learn and learn some more. Don't just learn "how to's", (which are very important), but also learn about yourself and about success. What makes you successful in what you do and what in you holds you back? Read books on success like Jack Canfield's "Success Principles" or virtually anything by Brian Tracy. Learn about financial management, read Brad Sugars entire "Instant Success" series, read Jeffrey Gitomer's series of books on sales, Jay Conrad Levinson on Guerrilla Marketing, anything you can get your hands on about leadership. Get "Ready Fire Aim" by Michael Masterson about starting a business. Then learn about writing a business plan. 3) Get clear on what you want and why. Why do you want to start a business? Let me be clear. I love entrepreneurship. I don't ever want to be an employee again in my life. However, be under no illusions. If you think university is hard work, you haven't seen anything yet. No matter what you learn in the books and in following a role model/mentor, you won't really know until you do it. You need a reason why you are doing this to sustain you during the learning period. Good luck in your endeavors, Warren
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