This is a blog about money, not business per say but the two go hand in hand. While browsing old files I noticed something interesting – notes I took about a few pieces of business wisdom.
You see, shortly after my affiliate adventures, along with a friend we started a business website. During that time I was trying to get my hands on as much great information as possible in order to succeed.
Well… the business has failed for now. It’s on a back-burner until further notice. However, this advice I came across is excellent and I’d like to share it with you:
Entrepreneurial Wisdom
- Ignore the real world.
- Learn from success.
- Don’t plan into the future, because the future is out of control.
- Big is not always good. Find the right company size.
- Don’t overwork. Use intellect not brute force.
- Be a starter.
- Pursue a purposeful idea.
- Make something you want to use.
- Time is not an excuse, or lack of it.
- Stand for something.
- Don’t take on any funds unless you absolutely have to.
- Be frugal.
- Have a commitment strategy, not an exit strategy.
- Stay agile, be ready to adjust lightning quick.
- Keep features to minimum.
- Do the stuff you have to do first.
- Decide and move forward. Never put off for later.
- Look for essentials and streamline your processes.
I can’t remember where I found it – but the information lit a light bulb in my head at the time. If I can figure out where this came from I’ll be sure to update this post as soon as possible.
Notice #9. I can’t believe this is something I’ve been blaming for the last half a year! Wow, this may just change the course of my life.
When I think of wisdom now, this photo taken on a recent trip to Arizona comes to mind:
I feel like I should print out this list and post it by my desk! Also, you should write a post about each of these
DC @ Young Adult Money recently posted..The Costs Involved in Sinus Surgery
Maybe I can make a poster out of it and sell it
LOL, any way to make a buck!
Haha do it!
DC @ Young Adult Money recently posted..Resale Value and other Considerations When Buying a Home
Those are all good ones! I specifically like #16 and #1.
Holly@ClubThrifty recently posted..How Much Money Is Enough?
#1 is so important because there are so many haters and naysayers. Sometimes you just gotta break the rules to make something amazing.
Great points! Running our own business I agree with many of them, especially #5, #6, #9, #10, #14 & #17. I would also add learning from your mistakes. Great lessons can be found in them, especially if you notice them and adjust so you can succeed the next time.
John S @ Frugal Rules recently posted..Why Rebalancing Your Portfolio is Like Buying a Carton of Eggs
Good one John. Mistakes teach lessons, that’s for sure. I would like to think I learned from the major screw ups in the past, but I guess time will tell.
I like the stay agile, it is so true in today’s business.
Pauline recently posted..Life is not like the movies
Minimal and agile is what it’s all about. This was the first mistake I made with the last business and it failed. We tried to include everything and were left with no wiggle room whatsoever.
I like #5. I read a study once that showed groups who plan more actually are able to do superior work in a shorter amount of time (including the planning). That kind of dispels the “Ready/Fire/Aim” philosophy, doesn’t it?
AverageJoe recently posted..Year End Tax Planning: A (Surprising) System of Cleaning My Closet
I’m still trying to figure out how to do #5. Right now with this blog I feel like I’m overworking. Maybe blogs don’t apply to that list? But I can totally relate it to a past job where boss wanted to slave away at manually doing repetitive tasks that could be automated. Boss didn’t want to admit there was an easier way to do something.
I like #7. The reality of finding a successful niche is simply finding a need that our world has and coming up with a solution to that problem. Much easier said than done of course, but people do it every day.
Jason @ WorkSaveLive recently posted..Sausage Chili Recipe
I’m thinking about starting an online store after reading Steve’s My Wife Quit Her Job blog. The challenge now is to find a niche that will work well. I have a couple of ideas
Great list! I like #10 and #12. I should print out this list, I like it so much!
Mackenzie recently posted..My Own Grocery Challenge
I’m glad you like it so much. It was sitting in a bunch of notes I took a few years ago. Glad I ran into it!
Great conventional wisdom and some important cornerstones to success. Flexibility and ability to adapt I believe is truly crucial. Hah, you should start your own motivational poster side business, V.! As for blogging being such a huge time-suck, I don’t believe there is a solution (unless one is willing to outsource the bulk of blogging tasks.)
Jennifer Lynn @ Broke-Ass Mommy recently posted..Plumping Our Family Coffers with an Itty-Bitty Gold Unicorn
I’ll try to make a mini printable poster out of this list when I have a chance
Ugh, yeah blogging is a time suck but I’ve been enjoying it quite a bit. Will have to put up with it…
What a great list and many of which some of us fail to think of as we are moving at lightening speed most times. For whatever reason taking charge of what we want when it comes to business and setting goals and following through is so important but so is the path we take to get there. Great post! Mr.CBB
Canadian Budget Binder recently posted..CBB Net Worth Update~November 2012
Thank you! I wish these were my ideas to claim, but I’m just happy to find them and share with everyone here.
#17 is a hard one for me. If I could overcome that I’d be able to move a lot faster.
These are great tips.
Justin@TheFrugalPath recently posted..Coupon Folders: A System that Works for Me
Thanks Justin. I know what you mean with sticking with something. We’re probably in the same category – perfectionists never satisfied with one decent thing that stops us from moving on about our business. I do some web design once in a while and sometimes get hung up on the finest details – mere pixels which end up holding back the entire project for hours, even days.
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