Part of starting, owning and running a business is LEARNING and rest assured, there will be a lot of learning! Look, you’re not going to know everything on day one. You can read books, magazines, professional journals, articles and blogs on starting/owning/running a business. You can watch videos, attend conferences, meet and speak with other business owners, industry experts, advisors consultants and professionals. The simple fact is there's so much information, so many rules and regulations, so many processes and procedures, and so forth that it will be a journey and learning experience.
That said, there is great value in educating yourself and having conversations with experienced business owners and professionals before you get started and as you operate and run your business. You don’t need to “reinvent the wheel” and you can certainly get some great pointers and valuable advice. Being well-informed and well-educated will help you early on in making some crucial business decisions and hopefully, help you avoid painful and/or costly mistakes. While every business and business owner faces challenges and is thrown a curve ball now and then, remember to take a step back, take a deep breath, keep a cool head and exercise calm and patience during these times. You don’t need or want to exacerbate the situation.
Keep in mind that starting, owning and running a business doesn’t require that you know everything about starting, owning and running a business. However, you should understand certain basic fundamentals and principles as well as the do's and don'ts when it comes to starting, owning and running a business. It's also important to know who to tap into and where to go to get answers and assistance from when necessary. You’ll quickly realize the importance of having access to and consulting with a good business attorney or law firm and Accountant or CPA firm. We’ll dive more into this in a future post.