I want to start my own small business. Where should I start? This is easy!
- Learn to sell
- Learn basic company financing
- Understand business credit
- Understand your weaknesses
- Learn how to hire great people
- Learn to leverage your time
Most of this you can learn on the fly, But learn to sell, like today. This will pay dividends over the years.
Understanding company finances is important. Just because you did $100k in sales and you have $150k in the bank doesn’t mean you actually have that money, you might even be bankrupt! Learn about cash flows, Balance sheets, etc.
Business credit, most companies owners don’t know, you will only find this out once you start to really grow as a business and realized it is holding you back, it’s dead easy to learn, head to youtube.
Understanding what you are bad at now, will prevent you from crashing your businesses for dumb reasons. It’s important to know what you are bad at, and to see if those failing will harm your business.