As an entrepreneur, you start with an idea. Then you start testing that idea by sharing it with friends, family and colleagues. Without asking but with good intentions, they begin to give you advice and tell you things that crush your hopes and burst your bubble.
I’ve been there. So, I’m not going to tell you what you need or should do. But after hearing from local start-ups and reading stories of thriving companies, here are some thoughts on what you don’t need.
You don’t need big money.
Start with what you have and begin to build out and up as you go. I started my business when someone offered to pay me for the knowledge I had. I had what I had and nothing else. Many small business owners hold so tightly to their big vision that they begin to believe the only way it will work is if they have big money to make it so. You will need some money but not big money. Some money will pay for the most important things - start-up inventory and professionals who have the skills and knowledge to help you. An accountant, attorney and insurance agent. These early members of your team will be invaluable as your business grows.
You don’t need to know everything.
Instead of knowing everything about your product or industry, it’s more important to be asking the right questions. Knowing everything implies you have all the answers. By asking the right questions, others will present you with everything you need to know at that moment in time. Tomorrow, you will gather more information that if stacked or added to what you learned yesterday, gives you enough knowledge to handle today and plan for tomorrow.
You don’t need a business degree.
Many hugely successful business owners don’t have a business degree. Meet the Co-Founder of the women’s retail chain Evereve, Megan Tamte. She was a school teacher and stay at home mom who after her first child, saw an opportunity in the retail clothing industry. Within 14 years, Evereve had grown to 86 stores.
Based on Tamte’s story, what you do need to get started is your unique idea, tenacity, perseverance and strong work habits.
You don’t need to be perfect.
Owning a business is nowhere close to being perfect. Your deepest reward will come from pursuing solutions to imperfection. Your job is to lead the discovery of imperfection in every problem in order to find a solution for your customers. Steve Jobs said the difference between successful and non-successful entrepreneurs is perseverance.
Stop worrying about what you don’t know. Focus on solving your customer’s problem and it will be your customer who will show you the true beauty in what you know.
You don’t need to be everywhere.
Maybe it’s FOMO, the fear of missing out. As a business owner, you feel like you need to be everywhere. A networking event tonight, breakfast meeting tomorrow, let alone the social pressure you put on yourself to also be everywhere on social media.
Your time is valuable. It’s your freedom, allowing you the space to freely run towards your dreams. If you impulsively commit yourself to being everywhere, your business will get nowhere. Be selective in the networking groups you join. Be selective with the social media you use. The more selective and limiting you are with yourself, the more you and your business will thrive.
Hope this article resonated with your own start-up story. If so, please like it below so I know what articles you like best. Your feedback will help me write better content for you!