|Tooling Inserts owned by eStyle Caps and Closures, Inc.|
There are several things I have recently learned from these new startups - things that I should have remembered when I started my company - but have forgotten over the last few years. I would like to share those with you.
First, the enthusiasm that goes along with building a business - the "I CAN DO IT" attitude that is fresh in your mind makes all the hard work child's play (well, at least it makes you feel like you are building toward a great goal). That is before you are beaten down with the lesser reality that can result from the day to day repetitions and boredom that can creep in with familiarity.
Second, the need to operate on a shoestring. One of the worst things you can do when your business is successful is to spend money like it is a never ending stream. Those good ole days won't be around forever and neither will the cash that is generated during those times. Work as lean as you can, and keep working that way - even when the business is thriving.
Third, the business follows your own values and belief system. Don't compromise your values to make your business "fit in" to what others think your business should be. In fact, right down your values and beliefs, put them in a safe place then pull them out every couple of months to test whether you are tracking true to your convictions.
Fourth, everyone wants a piece of your business if you are a success (for nothing, I might add). Don't give it to them.
I know that it is hard. Sixty+ hour work weeks, dwindling bank accounts - getting people to accept your business at face value - BUT, and it's huge BUT - it is worthwhile in the end. Whether you win or you lose, you have taken action. So many people have great ideas, but don't have the ambition or the courage to try to take the all important step of actually doing something with their ideas.
The people I met this past week are taking a step toward their dreams, and they are winners because of it!