Of course every business owner will have his or her own trials, but here are 20 reminders our community shared that just might save you a headache:
- You can’t do everything on your own. Building a team is essential because there are only so many hours one person can devote to a business. Exactly when you reach that limit depends on your other obligations. If you’re a young single person, you might be able to do everything for a year or two. But if you have a family, your dedication will eventually hurt those relationships. Build a team that can carry on when you’re not around.
- You may think your product is perfect, but your clients won’t. Listen to user feedback: Your opinion may not be the best one. The key takeaway here is “release your product early and release it often.” You won’t know if you have a great product until it’s in the field and users are beating it up. It’s like some of the contestants on American Idol. They think they’re talented, and their friends and family think so, too, but when they get on a bigger stage, their flaws become obvious.
- Do one thing really well. Entrepreneurs try to be everything to everyone, but it’s hard to be the store that sells bait and baby toys and vintage Beatles albums. Specialize, and you can charge for what you do provide. That said, if there is a skill or service that would make your core product better, provide it.
- Get paid before you hand over a project to a client. This is especially important if you provide a service. Once you turn over that contract or website or design project, you won’t have much bargaining power. When I was a graphic designer, I watermarked all my projects and hosted websites on a private domain until the bill was paid.
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