Herman School of Business
So, how do I start my business?
Whether you want to manufacture widgets, cook in your own restaurant, open a bed and breakfast, or begin a service providing company there are three things you better do first.
1.Gather ye rose buds. Get every dollar you have, and establish credit to get more, and know where that dollar is for when you run out of what you have and put the total of all available funds at the top of the page. Now sigh a little, because it ain’t going to be enough, but you have to know what you do have and where to get more because soon you will be scrambling for cash.
2.Write down exactly what you hope to accomplish. Not how to get there because you don’t know yet. Kind of like a man going on a drive. He doesn’t take a map and won’t ask directions but he swears he knows where he is going.
3.Make a list of what you think needs to be done in the next week. Not the next month or year, that is too far away. Just make little goals that head in the direction what you wrote down on number two. And start doing something. And don’t stop doing things even when you get too tired to do things.
The good news about starting a business or chasing a dream is that the biggest obstacle to success is yourself. There isn’t some gatekeeper who stops you from trying. No teacher, policeman, parent, or politician puts up a roadblock in America. Every one of you can start an enterprise and head down the road towards success. If you think there is a wizard somewhere who clunks you with a wand you are wrong. Stand in front of a mirror. Looking back at you will be the biggest obstacle to your success. If you can overcome what the reflection shows you just might see a smiling face staring back at you someday.
Surely some of you are saying hey this is way too simplistic. Scratch an entrepreneur and some will say they started without even doing these three steps. I would rather seem simplistic and tell you more details in future postings, just to get you going. Don’t spend all your energy making lists, and setting goals for months or years from now, and don’t get hung up on charts and graphs. Concentrate on specific things to actually do what your stated goal is. Like NIKE says…Just do it.
HERMANISM # 10
Trust Yourself
- Posted: 20 September 2007
- Comments: 4
- Category: Starting a business
Comments
Herm,
Little help on 2. Why isn’t this always answered like this: Make a million dollars in eighteen months. It seems to me that your reason for starting any business is to make a lot of money, otherwise, you’d may as well be workin’ fer the man.
I’ve heard others say your goals shouldn’t be money or you’ll fail, it should be to “help people.” Am I wrong to go into business with the idea that by helping others I’ll help myself and make a million?
Herman says: Every salesman succeeds if he solves a customers problem or needs. Find a solution to a customers problem with your product or service, deliver it with passion and integrity and you have a customer for life. And then the money flows in. Make a killing on a customer once and your huge profit will come back to haunt you in a lost customer for life.Thanks,
BillOGoods (Attorney in Michigan)
Written by BillOGoods on 24 September 2007
just came across your blog today via Small Business trends blog(in case you’re keeping track. you should be). What do I like about it? It’s pithy and relevant, not much fluff or trite motivational stuff. I look forward to more.
Written by ayaz on 24 September 2007
Nice writing. You are on my RSS reader now so I can read more from you down the road.
HERMAN SAYS: ThanksWritten by Alan on 23 August 2008
I like the encouragement this post provides. What are your thoughts on bootstrapping, do you think it’s a good strategy?
Herman says: When you use the entirety of your own funds and work provides the fuel, not money, you will learn much more as you go along.I found your blog yesterday and my initial impression is that you are an old school businessman. My definition of old school is, extensive business plans, projections, months and months of planning, etc. However after reading this I feel like you take the road of “ready, fire, aim”
What do you say to a 30-something trying to be in business for himself
Herman says: The age to start a business for yourself is when you feel the passion to do that. One advantage to starting younger is that you have more recovery time from an early failure.Written by Richard on 24 September 2007