Thinking of Starting a Business? The Top 10 Tips
By Anthony McCune
1. Be brutally honest in assessing your strengths and weaknesses.
2. Accept that you will need assistance to make your company successful.
3. Understand the need to focus on your area of expertise; identify sources of assistance for other operational areas.
4. Establish realistic goals that include measurable results.
5. Thoroughly research the industry including details about your competition.
6. Keep in mind, you are not going to reinvent the wheel. Successful companies – i.e. Microsoft and Wal*Mart – take existing ideas, adapt them as necessary and make them their own.
7. Project things to take longer than you believe they will and to cost more than you want or believe they will.
8. Develop a strategy that includes a reasonable number of contingencies.
9. Take an approach that is proactive, not reactive.
10. Plan your work and work your plan.