Wise Words From Wise People About Starting a Business

Starting a business means hard work.  You may have a great idea which you believe will make millions for you but it has to be worked on…..constantly. Be prepared to live, sleep and dream work. Your family and social life may take a back burner for a while as you’ll be consumed with your new business.  Nellie Akalp, CEO of Corpnet.com has great advice on managing this though – read here.

I asked a few business people what they consider is important when starting a business and here are their answers.

“The most important thing in business is to be honest, true to yourself and authentic. Lying to yourself or others is exhausting and unsustainable.” Paraic Hegarty, previous Angel Investor and now CTO of Akari Software

Anton McCarthy, Self-Employed Digital Marketing Specialist says, “Is there a clear and definite demand for your product or service, and what steps will you to take to find out?”

“Will your business disrupt your market or start a new one, if neither are achievable consider what makes the business special.” John Perrin of Tactical Sales Training

Warren J Rutherford of The Executive Suite says, “Who is my competition, where should I locate the business, how do I market to my customers, how should I price my services, what level of investment is necessary to get the business up and running before I break even?”

“What skill sets do I need to set-up; do I have the capital needed to start or how do I raise what is required?” Helen Cousins of Xcel Business Solutions

Elaine Rogers of Smart Solutions says “First the idea? Then? Before anything else, ask the simple Question: do I really want to BE in business?”

“Is it a passion/hobby or a viable business and have you done the research with people other than family/friends?” Debbie McDonnell of The Marketing Shop.

Elli St George-Godfrey of Ability Success Growth says “I‘d say start with a) what exactly am I selling? and b) who specifically is my ideal customer? Once you have answered those questions, you can then see if there is a market for your idea.”

“Drive and Passion” Derbhile Graham of WriteWords

Soraya Quigley of Coze Di Roze says ”An original idea!”

“Have you worked out how it is going to impact on your home life, social life, etc? Are you willing to make the necessary sacrifices to succeed? Are your family behind you or will you be going it alone? If so where else will you get the moral support that you need?” Mairead Kelly of Cute Honey.

Lorna Sixsmith of Write on Track says “Use tools such as the google keyword tool to see if your product/service is being searched for and to what extent. Researching competition. Being realistic with the amount of money you will need and adding some! Also – being realistic with the amount of time it will require and how that impacts on family. Contact local enterprise board (or similar) for courses/mentoring advice. See if you can become part of a discussion group.”

“Not to rush into fee paying advertising, there are so many ways now to get your name out there, that won’t cost of fortune. Networking is a great way and its free.” Ger Poff of Style My Bump

‎TerenceMacSwiney Field of Macsfieldimages ”’Honesty’ – honesty to your self – honesty with your customers – honesty with your financiers/bankers – honesty with staff – honesty with your expectations. Without honesty, failure is guaranteed.”

“Surround yourself with in the know people, positive people and discard anyone that wants to shut down your creativity or vision. You will know how you feel around someone, so listen to your gut instincts.” Ginger Aarons of Time Travel Tours

Tom Holmes of Ballymount Accounting says – “don’t be afraid to give it a go, have faith in your business idea; devise and formulate a business plan; take and consider advice from others already in business; don’t over estimate revenues;  don’t under estimate costs and….you will never have enough cash!”

“Have the ability to face & deal with rejection – time and time again. Running a business isn’t easy and you’ll have to handle many many situations where you don’t get the customers/sales you expected. Be able to ride the rough times, and prepare for them during the good times.” Claire Boyles of Success Matters.

The Corpnet.com blog always gives great advice for start up companies so I suggest you subscribe to the feed for some helpful reading.

If you have any tips regarding starting a business we’d love to hear from you in the comments section below.

Ready to Start a Business? Every day Corpnet.com is helping entrepreneurs incorporate a business – in a cost-effective, efficient, timely and accurate manner. If you want to start a business, CorpNet can help you incorporate as an S Corp or form an LLC to get your business up and running. We help entrepreneurs start a business by managing the business filings to incorporate a company. Whether you want to form an LLC or S Corporation or other corporate entity, CorpNet can help you choose a business structure with a free business consultation.