Each OED500 applicant is asked for advice to people starting a business. In the OED spirit of "entrepreneurs supporting entrepreneurs," we'll be passing along some of the best feedback received. Some will be a healthy reminder to us all, and some may make you smile. In all cases, they are words to live by for people starting out. Read on and pass along to those you know who are making a go of it!
Jennifer A. Garcia
Logicreative Design (on twitter @ LogicCreative)
1- clarify your target audience not only who needs your products/services, but who can afford them
2- be very clear on your own business goals
3- utilize social media
Check out Eyal Bino's post on small business Social Media to get started on #3
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Adele Ann Taylor: Adele's Literacy Library (on twitter @ ALLforbooks)
Plan accordingly and project your expenditures as far out as you can. Know that your dreams take a lot of hard work, dedication and sacrifice.
Well said, Adele!
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Kendra Von Achen
DB Pros Consulting (on twitter @ dbpros_crm ) Make sure you're committed to it before diving in. It is hard work running your business, and as they say, not very profitable for the first 3-5 years. I have virtually no overhead, but I'm not making what I made in corporate America.... Stick with it through the ups and downs and try not to get in your own way through negative thoughts, etc.
Thanks for the candid feedback, and the realistic expectation-setting reminder, Kendra. It's very easy for people passionate about a new business to get swept up in the energy. Grounded expectations are key to their businesses as they launch.
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