Two Minute Business Wisdom

Inspired by the quote from Kevin Rose, “Don’t let others convince you that the idea is good when your gut tells you it’s bad.” When you know your business has no need to jump on a trend, but people think otherwise as they see instant dollars now, fight the urge to succumb to the crowd.

There are way too many factors to take into account when starting a business and then maintaining that business to some level of success. But a key factor that have the greatest impact in your start come for the answer to the question, “Is this idea even any good?”

Taking calculated risks will help your business grow. Taking risks for your love of gambling will catch up to you sooner rather than later. Know that the risk of being smart about the timing of starting your business is just the first reward you can claim.

Celebrating both my love for business analysis and the classic tabletop RPG Dungeons & Dragons, I’m asking you to take a look at your Business Alignment System and roll the dice on doing Chaotic Good.

You must study and learn from your competitors. What they may be doing right or wrong, or in line with the market and contrary, makes a difference, and figuring out what may or may not work for you based on the lessons learned from others, even direct competitors, is always helpful.

Successful business people can only reach a level of achievement by putting in the blood, sweat, and tears (plus plenty of time, money, and crushing defeats) it takes as your 'down payment.' How much sacrifice you will make early to reap any benefits later makes a real difference.

Just because you have the skills to do a job and may need the work, it doesn't mean you will be inspired to finish the jobs you will have to work to find if you start a business around them.

The difference between an amateur and a professional is easy to distinguish in the world of sports, and it is just as easy to see in the world of business when you compare full-time work to side-hustle gigs. Don't rush to advance if you are not ready to give up your 'amateur' business status.

A successful business keeps detailed records, making it much easier to pull information from the past to answer questions you don't know will be asked in the future. Get in the habit of keeping good records from the initial kick-off of your business.

Your limited time, energy, and resources matter when you give them up to bring more customers to your business. You need to keep an eye on waste and ensure you are advertising to the right crowd to get you the maximum number of new and repeat customers.