Advice to First Time Entrepreneurs


“Your time is limited, so don’t waste it living someone else’s life.” — Steve Jobs
We’ve all heard it before: Follow your passion. Do what you love. However, your passion and what you love might not align with a business that will feed your family. Sure, you should be excited about what you’re doing. As Warren Buffett says, you should be “Tap dancing your way to work”.
Your Business Idea
Don’t be afraid to change course mid-stream. New ideas can come from anywhere. Adapt. Change your plan. You won’t be the first entrepreneur to wind up with a successful business that looks nothing like where you started.
Experiment. Don’t label yourself a failure. There’s a story about Thomas Edison being asked by a reporter how he felt about failing over 10,000 times to invent the light bulb. Mr. Edison allegedly responded by saying, “I haven’t failed once, I’ve succeeded in proving 10,000 ways that won’t work.”
Don’t think your business needs to be the latest new-fangled technology sensation. Watch Mike Rowe’s ‘Dirty Jobs’ episodes, you’ll find amazing entrepreneurs from all walks of life doing running all kinds of different companies that fill needs.
Keep experimenting. There’s an old military saying — no plan survives first contact. Once you’ve decided on your business, perfect your ‘elevator pitch’. Be able to explain your business during a brief elevator ride.
Stay Lean
Use independent contractors where ever you can. Find people on websites like Fiverr.com for things like Graphic Design and use sites like Tomoson.com for product reviews.
Get free help from the SBA with the SCORE.org program. Go on Meetup.com and attend events with entrepreneurs in your area. Use Facebook, Instagram and Twitter to promote your company.

Never Give Up
Above all, don’t ever give up. There’s a saying it takes twenty years to become an overnight success.


You might also like my other book, The Golden Age: 101 Thoughts on Business, Entrepreneurship, Investing & Technology