Young Entrepreneur Advice: 100 Things You Must Know! : Under30CEO Young Entrepreneur Advice: 100 Things You Must Know! : Under30CEO
arrow
Join the Under30CEO Community We deliver tips, tools and inspiration for your business. Daily to your inbox.

Young Entrepreneur Advice: 100 Things You Must Know!

| February 25, 2010 | 103 Comments

young entrepreneur adviceWe wanted to create an article addressing some of the problems start-up companies and young entrepreneurs have. So we asked!

“What do you wish you knew before you started a business?”

1. I wish I would have known how unpredictable things can be at ALL times. I read a lot before starting my business and realized unexpected things happen, but never did I realize the frequency in which they do. You really need to learn how to adapt everyday to things you may not have forseen waking up that morning. – Scott Fineout, http://www.607magazine.com

2. Before going into business I wish I knew the importance of having an established “Advisory Board”.  Having a mentor is one thing but having a counsel of people who are not only experts in various business
related functions but are also cheerleaders and coaches for your success is another. – Kellie L. Posey www.keleventsllc.com

3. I wish I knew about the value of keeping it simple. Starting out young with plenty of energy and great ideas led me down many paths of distraction. Instead, by focusing first on what sells, why and at what price and then staying true to that over time, I would have saved a lot of headaches, time and supported profitability a lot sooner. The saying KISS is popular for a reason and particularly applicable when you’re an entrepreneur. - Deborah Osgood www.bdki.com

4. The one thing that I wish I knew before starting a business was how much time you spend learning – it is constant – from self development, to business basics, to social media, – talk about wearing many hats! Oh my and thought motherhood was challenging. I love to learn new things but had no idea it was going to be like this. You have to learn how to act, how to present, how to close, how to keep in contact, how to prospect, and how to keep customers! – Michelle Morton http://www.sochomebusiness.com/

5. Focus on yourself as much as your product/service. The recipe is only as good as the Chef preparing the dish. – Mujteba H. Naqvi http://www.bonvoy.com

6. That whatever my start-up budget is… I should have multiplied it by three - Aliya Jiwa http://spunkystork.com

7. The most important, and costly, lesson I had to learn is that in order to grow in a good economy, and in order to survive in a bad one, it’s necessary to understand that one person can’t do it all. It requires the efforts of a team (sales, accounting, production-service delivery, management, etc.) to be effective. Too many young entrepreneurs, myself included, feel they can do it all. That’s a huge mistake. – Tom Coalson http://www.tomcoalsonconsulting.com/

8. Financially, I learned that you should get incorporated and need to have a great accountant that specializes in small business taxes.I also discovered that success is easier to achieve if you learn from people that know more than you instead of going it alone. – Eddy Salomon www.WorkAtHomeNoScams.com

9. I wish I would have known that the hardest part of owning and operating my own business would NOT have been how to create revenue on a monthly basis. I wish I would have hired a full time IT guy and a shrink to manage with my sales force! – Bradley W. Smith http://www.debtfreeassociates.com/

10. I really wished I developed more social skills early on to spend more time developing relationships. Networking has been key to bringing in more business and I had practice this social ability more, then business may have come sooner rather than later. – Ali Allage www.boostlabs.com

11. The best thing i did is to outsource all my administrative tasks. Now i have enough time to focus on other important tasks. – Gagan http://www.fortepromo.com

12. Never pay full price for anything online (office supplies, stock photography, services, etc.)–always Google for coupons. – Bill Even www.TheComingWave.com

13. Location, location, location. It really is true! – Tanya Peila www.tanyapeila.com

14. Finding the right Accounting / Financial Manager right up front was our biggest learning and biggest mistake. Completely changed our financial performance and caused us to hit a wall we should have avoided. – Mike Cleary http://www.abcom-inc.com

15. I wish I knew how much general information I would need to know and how long the process would take. Almost three years later Im still in the “set-up” phase to my business and teaching myself all about websites, graphic design, business law, bookkeeping, customer service, etc. - Leslie Boudreau http://www.inn-photo.com

16. It’s important to get customer validation early on. You can have the greatest technology, or website, or service, or whatever, but it’s ultimately meaningless if you haven’t verified that there are actually customers willing to spend money on or around what you do. - Adam Rodnitzky www.reteltechnologies.com

17. Business partnerships are like marriages and should be entered with the same care.  Like marriages, there are a lot of assumptions about what the partnership is/is not and communication about those will lead to better success. - J. Kim Wright www.CuttingEdgeLaw.com

18. I wish I had known how few true entrepreneurs there are out there. Every time I thought I had a kindred spirit with whom to share experiences, lean on for support and provide support to them, it turned out that they were looking for a paycheck. Find a partner and a kindred spirit BEFORE you launch.  – Tom Reid www.certifiedKsolutions.com

19. Small business owners should carefully reflect on how they can tastefully build referral sources through all contacts, and how to utilize social networks, including the vast resources of the internet, to build a referral base and, in turn, a client base. - Jay Weinberg http://www.jayweinberg.com

20. I wish I knew how important it is to never rely on anyone else. I  wasted a number of years “networking” in hopes of people referring  business. It never worked. My career took off when I assumed  responsibility for every aspect, including marketing and sales. – Rob Frankel http://www.RobFrankel.com

21. I did not realize the level of sacrifice that would be required to become not only an entrepreneur, but a successful entrepreneur. Don’t get me wrong, it is worth every single second, but I had no idea that friends and family would not be able to relate. – Amber Schaub http://www.rufflebutts.com/

22. I wish I had understood how little time I would have to do the things that I need to do in order to “produce” and to make money. Make sure that you spend your time and your energy on the revenue generating matters. Spend the money necessary to get help. Pay someone else to take care of all of the admin stuff. – Francoise Gilbert http://www.ITLawGroup.com/

23. I wish I knew how hard it was to manage employees and have good, competent help. I also wish I knew how to market, advertise, and work these social media tools. - Jamie Puntumkhul http://jlpeducationservices.vpweb.com

24. Have a serious exit strategy & plan prior to opening doors. As an entrepreneur I was ready and willing to take the plunge to open my own company, but didn’t realize I had to structure my company around the exit strategy (i.e. make it sellable and transferable, and self sustaining without my everyday presence). - Christopher N. Okada www.okadaco.com

25. With my first companies I wished I had lined up a client and received a commitment to buy before I jumped in the water. – Patrick  J. Sweeny II http://www.odintechnologies.com/

26. I wish that I would have known that my MBA wasn’t necessary to be an entrepreneur. I started business before and thought the MBA+ would give me a better insight to prevent me from making mistakes but I believe you either have it or you don’t. – Janice Robinson-Celeste www.CelesteStudios.com

27. I wish I would have known how expensive running a business is – mainly payroll taxes, medical insurance, etc. We researched all of our fixed costs, however, the more we billed out, the less we keep. – Marian H. Gordon www.yippeeprinting.com

28. Find the very best, most knowledgeable people you can afford and hire them with not just salary, but incentives. The better the people, the better the job done and advice given. – Ric Morgan American Business Arts Corporation

29. Several years after starting my business I learned that the best source of advice and peer support are fellow entrepreneurs, especially those who have attained the level of business success to which I aspire. – Charles E. McCabe http://www.vaceos.org

30. I wish I had understood the value of investing in high-level talent. As a start-up, it’s scary to think about hiring someone whose experience demands a higher-level salary. So you tend to hire less experienced individuals, but they typically don’t bring the intellectual capital or business savvy that can help you grow faster. – Susan Wilson Solovic www.SusanSolovicOnline.com

31. Starting a business is like getting married, you think you know what youre getting into and that youll be better then the median, but when it comes down to it you have no idea. – Summer Bellessa http://elizamagazine.com

32. The biggest thing I’ve learned and wish I would have known before I had started our company is the difference between sales and marketing. Everyone says sales and marketing together like they’re the same
thing. They’re not. - Scott D. Mashuda http://www.RiversEdgeAlliance.com

33. I wish I would have known how important a real business plan was, a marketing strategy, and exit strategy were. You should really plan your first two years and have a hit list of sales/marketing opportunities that are interested before you take the leap. – Ben Wallace www.innovative-memories.com

34. Probably the most important thing I wish I had realized earlier was how little I knew about how consumers bought things on the Internet. I have been a web developer for years and knew all about technology, but little about marketing and getting inside the mind of the consumer. – Sara Morgan http://www.custsolutions.net/

35. You can’t put your life on hold while waiting for your venture to hit.   I have tremendous regret  around all of the family events, vacations, and time with friends that I missed because I was working on getting my film/company off the ground. - Pamela Peacock http://www.shadowlightpictures.com

36. Admittedly, we went into GiveForward knowing we’d have to be flexible and patient. All of the good books tell you this, but no one really tells you how emotionally draining that wait can be. – Desiree Vargas www.GiveForward.org

37. Hands down without a doubt no questions asked – effective marketing. It truly does not matter how great your product or service is unless someone knows about it you are still behind the start line. – Leanne Hoagland-Smith http://www.processspecialist.com

38. I thought if I had a great product and an attractive, functioning website customers would come.  Boy, was I wrong!  In the online world its all about SEO! – Semiha Manthei http://www.firststeporganic.com/

39. I wish I’d have known that the only thing important in business is building a product that someone will buy. That’s it. It’s real easy for first time founders to get caught up in visions of grandeur – but in reality, the only things that matter are having a great product, and having customers that will pay actual money for it. - Brett Owens http://www.chrometa.com/

40. Business books and all the education in the world can give you the foundation for starting a business, But they cannot show you the cold hard truth about how difficult it can be to start a business. – Michael Grosheim http://www.thesocialtweep.com

41. One thing I wish I knew right off the bat is the benefit of networking.  I spent a lot of time trying to tackle everything on my own, but its really important to reach out to fellow entrepreneurs, complimentary businesses, family and friends for advice and support.Cailen Ascher Poles http://www.cailenascher.bravehost.com/

42. I wish I had known how important it is to outsource to other  professionals instead of trying to do everything myself, and  ultimately not always doing everything correctly. – Jennifer Hill www.jhilldesign.com

43. I wish I knew exactly how important it is to prioritize tasks and goals. One of the most important lessons I’ve learned in the last few months is to prioritize what is important, in order of its proportionate worth. It is easy to do the little things that make you feel like you are accomplishing something, but it is the big important things that need your full attention – even if it is uncomfortable. – Evan Urbania www.chatterBLAST.com

44. I was naive enough to think that if I had a great product that helped  people and at the same time had the lowest prices available for the  products we did sell that word would spread and people would be  excited to use our product. – Chris Sorrells www.ErgonomicsSimplified.com

45. I wish I had known that you dont need to be right with your first iteration of your business plan.  Young businesses naturally deviate from their roadmap as the founders ideas about what will work get tested by reality.  Smart entrepreneurs listen to the feedback they get and adapt. – Matt Lally http://imaneed.com

46. I wish I’d understood the incalculable value of having just the right executive assistant, someone who can leverage your time and actually be an extension of yourself. - Barry Maher www.barrymaher.com

47. I wish I had more marketing skills to take my business to the next level.  At this point I have to hire someone as I am super limited in this area. – Deb Bailey http://www.powerwomenmagazine.com

48. I’ve learned that I can’t micromanage everything, no matter how much I want to. Sometimes you have to delegate certain responsibilties to others. Not only did this help keep me sane, but it was good for team building amongst employees. – Lev Ekster www.cupcakestop.com

49. I wish someone would have explained the difference between sales verses marketing. – Tom Pryor WWW.SBDCEXCELLENCE.ORG

50. I wish I knew depth of the thought process needed in starting a business, especially on a personal level. I wish I understood how my thoughts would affect my business. – Jennifer Ann Bowers http://rosebridgecreations.com

51. I wish I understand “cash flow”. I figured that as long as I brought in lots of business, the business would be great. Cash is king and always keep MORE of it than you forecast or expect to need. – Ryan Kohnen www.ryankohnen.com

52. I wish I had taken a class, or gotten practical experience in, using business accounting software. The investment would’ve been minimal, and it would’ve saved me (and my accountant) hours of frustration. Additionally, I wish I had spent a few bucks on an accountant to set up my books properly. – Shane Fischer www.fischer-law.com

53. What I didn’t know then was the value of networking. You never know where business will come from. And having friends and acquaintances from political, business and social circles may prove to be your best new business referral! – Melissa Stevens www.fkmagency.com

54. I wish I completely understood what “cash flow” meant and how important it is to live within a budget and how important it is to hire the correct people, rather than just able bodies. – Kelly Delaney www.cakes4occasions.com

55. The one thing that I wish I would have known before going into business more, was my own strengths and how I use them on a daily basis. – Jason C. Raymer http://www.bluegrassautoglass.com

56. Trademark/ Copyright info – 3 months after we had started one of the businesses we had to completely scrap all the branding and build a totally new site, social media, EVERYTHING due to a legal issue regarding trademark. – Sarah Cook http://www.RaisingCEOKids.com

57. I wish I knew how to proficiently do marketing via the web, newsletters and blogs. The other key thing is to get the right coach. I eventually used www.onecoach.com, headed by John Assaraf of “The Secret”, who finally helped me pull my business together. – Nancey C. Savinelli www.naturalhealthctr.net

58. I really had to understand the “basics” of business and how to capitalize on the small opportunities to given to me and turn them into “larger than life” success stories. – Darren Magarro www.thedsmgroup.com

59. I wish that early on I had sought out more business leaders in my field. It wasn’t until I was a bit older that I realized the value of the knowledge to be learned from veteran industry players and how it could help me grow my business. – Jim Janosik Aladanmediagroup.com

60. I wish I had seriously thought about branding and the longevity of the brand. Looking back, I should have thought about what was going to define my company, what would be a look that would last for years and not go out with the trends, and what image I wanted my customers to see when they first started researching my company. – Katie Webb http://www.becomeintertwined.com

61. If you have taken the time to think through things (price, service, contracts, delivery) don’t be so quick to change it up just because a Client wants you to. – Joni Daniels http://www.jonidaniels.com/

62. I wish I knew not to expect things to happen for us. Often times, we were waiting to get lucky and not making our own luck. We learned that nothing is going to get handed to us on a silver platter and if we want it, we have to go out and get it. – Ben Lerer http://www.thrillist.com/

63. At the time of founding it I was so focused on survival I didn’t think about the exit strategy. – Laurence J. Stybel stybelpeabody.com

64. I wish I’d know how much easier it is to build a business around an established market that’s already looking for a solution to its problems rather than trying to build the market around the business I wanted to start. – John Crickett http://www.businessopportunitiesandideas.co.uk/

65. How challenging it is to get people who request our services to pay. Since we are a nonprofit/community organization, everyone thinks our services are free because of grants or corporate giving. – Candi Meridith www.GoodForYourself.com

66. You have to have to have some sort of passion in order to be successful. But no matter how much you want to believe it, doing what you love because you love it and doing what you love as a business are different. Don’t expect every day to be bliss. – Andy Hayes www.travelonlinepartners.com

67. I wish I knew it didn’t take tons of money to get started, so I would have started it sooner. I think that holds a lot of people back. – Candy Keane http://www.ThreeMusesClothing.com

68. When I was opening my first business, I made the near lethal error of leasing a business location without a plan. Once I got in the location I had to do three times the amount of marketing necessary just to contend with the competition. I spent more on marketing than I would have spent on the extra rent of a better spot on the street I was on. – S. Zargari www.assuranceadvertising.com

69. I would have spent more time selecting the most qualified technical resource by interviewing more people more strenously to ensure we got the most talented resource for our money…both short term and long term – Jennifer Myers Robb http://www.hergameface.com

70. Get a coach – someone who can walk you through the jungle to get you to the gold. Why bother flying blind, when others have blazed the trail before you? Starting a business without a coach is like getting in the car and driving. Sure you can move–and fast–but using a map is so much smarter than not. – Richard J. Atkins HTTP://WWW.IMPROVINGCOMMUNICATIONS.COM/

71. I wish I’d known it would not be enough to know my stuff cold. (I’m a subject matter expert, but the same would apply to someone with a product.) You have to really know (or be willing to learn FAST) how
to market yourself and have a plan to do it. – Judy Hoffman www.judyhoffman.com

72. I just wish I knew how much free goods I would have to give out in order to promote my products. – Jacqui Rosshandler www.eat-whatever.com

73. I wish I knew that there was a fine line between self-employment and un-employment. Second, I wish that I knew more about the competitiveness of my type of business and had spent some time interviewing people who were successfully doing what I wanted to do. – Cyndi A. Laurin www.guidetogreatness.com

74. I wish I had known that starting a business would give me so much happiness, and worry. I knew that it would be hard, but I had no ideas of the hills and valleys that would come with being a business owner. – Shay Olivarria www.BiggerThanYourBlock.com

75. I knew that starting a business was going to be a lot of work, but I didnt know much work and that it was going to go slower than I had expected.  I wish I had known that there was going to be a lot that I didnt know, but that its ok because Ive figured it out (and am still figuring it out!) along with way. – Grace Bateman http://www.perupaper.com

76. Everyone will not be happy or supportive of you starting a business or succeeding in it, and that’s okay, as you do not need their nod, their vote of confidence or their praise… you have your own.Anahid Derbabian www.integritycommunicationsco.com

77. Don’t work with your spouse. If you want to wreck a marriage, be together 24/7 with one person exerting power over the other. – Susan Schell http://www.citadeladvisory.com

78. Relationship Marketing – I wish I had understood the importance of staying connected with past clients and nurturing relationships with current clients. Your personal life, your spiritual life and your professional life is all about the relationship. – Sandie Glass http://www.sandstormideas.com/

79. I wish I would have realized earlier the importance of having a core group of target customers. Find a handful of people and build a trust with them. Test various products and services on them and eventually use their passion and your business to fuel evangelism to grow as you refine your business model. -
Dayne Shuda http://huntingbusinessmarketing.com

80. If you’re young, and especially if you’re a woman, you may be tempted to undersell your product or service – or worse, give them away – in order to get into the game. Don’t. Set up a pricing structure that’s in line with your business plan and allows you to grow your business. – Ruth Danielson http://www.msmarketintel.com

81. I wished I had learned about the need for business systems and process documentation and why they are important. I have found they are a life saver to developing a work environment that thrives since everyone in the company knows what they are supposed to be doing and can easily reference the steps. – Adam Sayler http://arthurwinn.com

82. What I wish I knew before I started a business was a really great business advisor! Most of us go into a business with a big heart for the product and lots of excitement. Few of us really know how to run a business. – Kelley Small www.smolakfarms.com

83. I wish I knew how long it would take to build a steady stream of clients and establish strong relationships with customers and vendors. - Alexis Avila www.preppedandpolished.com

84. I didn’t take into account what being a home business owner would mean I mean I’m in my house a
lot! I have to eat 3 times a day and there are very few delivery places where I live – so making a mess in the kitchen 3 times a day, and cleaning the office myself. – Maria Marsala http://www.ElevatingYourBusiness.com

85. I wish I had known how demanding entrepreneurship is on the entire family. It took me months to realize that they were giving as much or more than me by picking up the slack around home and giving me space to pursue a dream. – Carrie Rocha http://www.pocketyourdollars.com/

86. To be patient. When I first started, I expected results instantly. I’d get frustrated when things didn’t work the way I planned. Luckily, I didn’t have any hang-ups about failing, so I kept trying new things
and slowly built upon those things that worked. – Naveed Usman http://www.theusmangroup.com

87. How much money would I make in the first couple years of operation.  Obviously, this answer would of told me to find a steady job and do this on the side until I really got it going 3-4 years later. – Marc Anderson TalktoCanada.com

88. I wish I knew that cash flow wasn’t the same as profits, that employees are not paid friends and that you should always trust but never let anyone open your bank statements. – Anne-Marie www.brambleberry.com

89. The one thing I wish I had done differently is not spent money on advertising offers that don’t pay off. This is business people don’t often do things out of the goodness of their heart. I’ve learned to be a lot more skeptical of “opportunities” I get offered. – Adrien TheNakedHippie

90. One piece advice I would give to people just starting up that I wish knew is that success is less about the idea and more execution. Don’t wait until you have the great idea or have refined all the plans, just get something up and start iterating. – Ben Hatten www.legalriver.com

91. How important it is to network, instead of attempting to fly solo. Fortunately, my belated learning didn’t negatively impact my company for too long but the soaring would definitely have occurred
sooner had I considered the value of self-promotion. – Marlene Caroselli www.caroselli.biz

92. I wish I knew how much my time was really worth and the best way to set my rates. I made an early mistake by charging too little and booking myself so tightly that I didn’t have enough time to work on some projects the way I wanted to and I couldn’t hire anyone to help me because I didn’t allow for the added cost. – Susan Bender Phelps www.OdysseyMentoring.com

93. I wish I knew the importance of networking when I first started my web design company. It took me a few months to realize that referrals and networking are the best types of leads. People want to do business
with people they like! – Becky McKinnell www.iBecCreative.com

94. First, that being successful causes growing pains that are a major headache. A good headache to have, but difficult challenges nevertheless. Second, it would have been nice to know it can take a year or so for things to take off. Starting a business can be frustrating in the beginning and you really have to be determined to succeed. – Nick Veneris Xomba.com

95. Dont listen too closely your friends who might be good business people but who have never started a business.  They mean well, but their assumptions are way different as an employee of a company than they could ever be as a principal shareholder in a business. – Elizabeth Pitt CaregiverNeeded.com

96. I wish that someone had told me that managing a business isn’t about numbers, but rather all about people skills. During my first management foray I fell face first in the dirt. People called me a micro-manager because I got too much into the nitty gritty of how to do the job rather than allowing them to find their own way. – Steve Richard www.vorsight.com

97. I wish I had known that starting a business requires you to ride an emotional roller coaster.  You can go from the highest highs to the lowest lows in a matter of hours because a startup company always seems be on the verge of either collapsing or taking off like a rocket.  Now making my business grow is all the more exhilarating because I survived demoralizing low points to get it off the ground. – Alex Andon http://www.jellyfishart.com

98. That it is OK to trust your instincts — even when they are not necessarily backed up by years of finance/accounting or business school credentials – Jenn Benz www.benzcommunications.com

99. Less time spent on paid marketing/advertising efforts and more time screening and building strong partnerships with influential journalists, writers, editors and television producers. – Philip Farina http://www.farina-associates.com

100. I now know that businesses are extremely organic & have a way of taking on a life of their own – now I know that though things don’t always work out as planned, there is always another opportunity around the corner…understanding this from the beginning would’ve saved me a lot of stress! – Rina Jakubowicz http://www.rinayoga.com

Now that’s a lot to take in before you start! There are a lot of hardships, problems and things to consider but to sum it up I think Kat Gordon of www.maternalinstinct.net says it best “In short, I manage my own destiny. And I’d have it no other way.”

Contest Announcement: BizBreak & Under30CEO Present “Limitless VC Contest”. You will have a chance to win over $3,000 and consulting from 5 veteran entrepreneurs! The contest is live and will last 60days. All you need to enter is a business and a camera to shoot a youtube video! Get all the details at http://bizbreakapp.com

Opt In Image
Awesome People + Awesome Places
Travel around the world while making new friends

Under30Experiences curates awesome experiences around the world for young travelers.

Tags: , , ,

Category: Startup Advice

  • http://Under30CEO.com Jared O'Toole

    One of the best parts about reading all of these is realizing you are not alone when it comes to the problems and struggles of starting a business. Sometimes it feels like you are the only one having problems but in reality everyone is going through or went through that same process and its all about pushing forward and keeping your head up!

    If you weren't on the list –what do you wish you knew before you started a business!?

  • http://huntingbusinessmarketing.com/ Dayne Shuda

    It is definitely comforting to know you’re not alone, Jared. There is great insight here. I like #99.

  • nashadams

    I particularly enjoyed number 3. It is very easy to lose site of what sells and end up with a pile of great ideas and no money. Thanks!

  • http://twitter.com/ClintonSkakun Clinton Skakun

    3. I wish I knew about the value of keeping it simple. <– so important, business is simple but we like to sound fancy and intelligent and we confuse ourselves. I have a monthly strategy for both of my business: find 3 people to serve, the rest is self explanatory. I love simplicity. I like to describe a business like this: Services go out, money comes in, there's a reusable system in between there.

    One I'd like to add is: I wish I didn't try to jump on every opportunity and just gained some clarity at the beginning.

    Amazing post!

    Clinton

  • Pingback: Daily Fuel – Friday, February 26th « Live Relentless

  • http://Under30CEO.com Jared O'Toole

    Agreed. In our last interview with Nathan he also mentioned how he only invested in traditional businesses. Just go out and sell a product or service and repeat! Don't worry about being the next big tech startup or re-inventing the wheel.

  • http://twitter.com/PantsOffEntrepr Brandon & George

    Great list of 100. What a wonderful digital age we live in where we can get free advice from battle tested professionals.

    I like #100 and no I didn't just scroll to the bottom I read through them all. I think organic growth is rarely talked about and seldom understood. Just because you have this great vision and plan doesn't mean the real world wants anything to do with it. Ship adjust, ship adjust.

    Stay as true and close to what your customers truly want, not what you think they want.

  • http://twitter.com/fsorganic First Step Organic

    I was curious to see what other entrepreneurs went through… So much insight and great tips! Thanks for the post.

  • http://Under30CEO.com Jared O'Toole

    Great to hear you found it useful!

  • http://Under30CEO.com Jared O'Toole

    Great point. In the end its about meeting your customers needs. Why try to reinvent something when they are already asking for things?

  • deborahnixon

    I wish I had let go of my 'baby' earlier and listened hard to the market. You work so hard to develop your concept or product and when people don't love it, you assume that they don't have the brilliance to see how valuable it is. That may be true- but it doesn't matter. The market has the ultimate final say. Trying harder, trying to convince people won't work. Listen and adapt.

    It's really hard. Harder than you can ever imagine. And don't do this thinking you'll strike it rich. You have to love it. Have a passion but don't be blinded by it. Work hard. And nobody will do it for you. It can be lonely. And it takes time. You won't be successful right away. You have to be able to go the distance.

  • Pingback: Successful Tips for Young Entrepreneurs » Blog Archive » 5 Tips for Young Entrepreneurs

  • Pingback: A long laundry list of ideas – 'moh'mentum

  • Pingback: Sometimes story is more problem solving than art

  • http://twitter.com/garrettcanhelp Garrett Miller

    #6 is so true… >.<

  • Pingback: uberVU - social comments

  • Pingback: An Intro with Matt Wilson of Under30CEO | YHP|Your Hidden Potential

  • Lyndit

    Awesome awesome list. So wonderful to hear about everyone's reflections on the topic. I agree with Jared that it is nice to hear others struggling with similar issues. Great advice.

  • femistevens

    The need to develop and mature the entrepreneurial instinct is the key to sustainability and gaining competitive edge in the stormy weather of the business world. Be patient and you will make it. It's a marathon and not a sprint. A bend and never an end.

  • http://twitter.com/VideoAFX Vincent Talerico

    Great read. Accounting for time is probably one of my additions to this extensive list. Once you learn (apps search time management) how to utilize today's technology to account for every minute, about four weeks later you become sick to your stomach and it turns in to ruthless time management. People think I'm crazy…if you can't account and manage a minute, forget the dollar.

  • Pingback: 100 cosas que todo emprendedor debe saber: Under 30 CEO « CommunitiesInABox

  • http://twitter.com/Mark_Jean Mark Jean

    Cash is king.
    NDAs are pointless.
    9.7 of the 10 people you meet are trying to rip you off.
    Behave as if you trust everyone, but don't.
    People with skin in the game – cash, time, risk, actionable agreements – are your real team.
    Never allow a non-inventor to sign a patent.
    Perfect/protect your idea – with a layered defense – as much as possible before advancing it.
    Have a reasonably short process for making important decisions & stick to it.
    Move lightning fast.
    Know what your business goals are.
    The business is the thing of value you're creating.
    Know your exit strategy – what the simple steps are – repeat it out loud 3x daily.
    Everyone is in sales & selling all the time.
    Cash-flow now – prioritize tasks required to get money into the bank.
    Cash is king.

  • Pingback: Tweets that mention Young Entrepreneur Advice: 100 Things You Must Know! | Under30CEO -- Topsy.com

  • http://Under30CEO.com Jared O'Toole

    Completely agree! Its a marathon. You have to stick it out and if you keep pushing you will get there. But nothing comes quickly.

  • http://Under30CEO.com Jared O'Toole

    Cash in King! Great additions. I think they are brutally honest like people ripping you off and behaving like you trust everyone. Its true though and people that realize this will see success.

  • Pingback: 100 insights from young entrepreneurs | Business is Personal

  • Pingback: Dropping Jewels: 100 Things You Must Know To Being A Young Entrepreneur | The Diggers Union Local 1200

  • Pingback: Entrepreneurs Under 30: Advice From Your Peers | Tech News Ninja

  • Pingback: Entrepreneurs Under 30: Advice From Your Peers | Gabbur

  • Pingback: Entrepreneurs Under 30: Advice From Your Peers « Coworking Congress

  • Pingback: Entrepreneurs Under 30: Advice From Your Peers | DAILY BREAKING NEWS UPDATE

  • Pingback: 100 things you must know before starting your new business – Entrepreneur advices | Debajyoti Banerjee

  • Pingback: Entrepreneurs Under 30: Advice From Your Peers

  • http://Under30CEO.com Jared O'Toole

    Thanks for all the great comments and for passing this article around! We always appreciate it!

  • http://Under30CEO.com Jared O'Toole

    Thanks for all the great comments and for passing this article around! We always appreciate it!

  • Pingback: Entrepreneur Advice: The 100 Things You Should Know | StartUpMe Blog

  • Pingback: » Young Entrepreneur Advice: 100 Things You Must Know! | Under30CEO

  • http://www.import-from-china-business.com Waiau

    #1 Cash Flow is King. You have to bring in money faster than the money that is leaving.
    #2 Finding new customers should be the one thing that keeps you awake at night.

  • Pingback: How to Write Amazing Content That Goes Viral and Gets Links | Under30CEO

  • Pingback: Teen Business Central » Blog Archive » I Wish I Knew . . .

  • Kristen

    This is some really great advice and have already forwarded to many others! While some I already have experienced and can relate to, it always good to know what to expect before it happens.

    Kristen Sonsma
    Chief Business Development Officer
    http://www.bsquareclothing.com
    Be sure to ‘Like’ us at http://www.facebook.com/bsquareclothing
    @bsquareclothing

  • Kristen

    This is some really great advice and have already forwarded to many others! While some I already have experienced and can relate to, it always good to know what to expect before it happens.

    Kristen Sonsma
    Chief Business Development Officer
    http://www.bsquareclothing.com
    Be sure to ‘Like’ us at http://www.facebook.com/bsquareclothing
    @bsquareclothing

  • Pingback: What You Can Learn From Taylor Swift About Being an Entrepreneur | My Midtown Mojo

  • Pingback: Best Under30CEO Articles of 2010 | Under30CEO

  • John Devivo

    Some really great advice here; especially liked:

    11. The best thing i did is to outsource all my administrative tasks. Now i have enough time to focus on other important tasks. – Gagan http://www.fortepromo.com

    Ambrose has been relieving companies of their administrative burdens regarding HR since 1997; check out our link to see how we can help your start-up! http://www.ambrose.com/sectors/start-ups.html

  • Graceiheji

    Great tips!

  • Pingback: Tips for Young Entrepreneurs « People at Work & Play

  • Em79752

    29. Several years after starting my business I learned that the best source of advice and peer support are fellow entrepreneurs, especially those who have attained the level of business success to which I aspire. – Charles E. McCabe http://www.vaceos.org

    <— This is really so true. In order to be successful, surround your self with successful people and learn from their ideas and experiences.

  • Pingback: Anahid derbabian | EntrenandoatuPerro

  • Pingback: Young Entrepreneur Advice: 100 Things You Must Know! | Under30CEO | Accounting and Small Business /Beverly Shares

  • Pingback: Young Entrepreneur Advice: 100 Things You Must Know!

  • Hahahahahahahaha

    YOU SUCK!!!!!!!!!!!!!!!!!!! THIS IS THE WORST ADVICE EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Have a nice day.

  • HAHAHAHAHHAHAHAHHAHAHHAHA

    U ARE RIGHT!

  • HAHAHAHAHAHAHHAHAHAHA

    THIS IS HAHA YOU SUCK

  • Hahahahhhhahhaa

    hi
    people

  • http://www.gbmaccounts.co.uk Nick Goddard

    Have a plan.  Many businesses only bother putting a business plan together when they need funding, but it is vitally important to know where you want your business to go.  Just yourself?  A team?  World domination?  OK we can all dream, but bear in mind that every business had to start somewhere, and I would guess that many people spend more time planning their holidays than where their business is going to end up.

    And also appreciate risk – having one big customer instead of hundreds of smaller customers is easier to administer, but it is risky.  The same principle for suppliers and product lines (imagine only having 1 product and it gets a bad review?).

  • Pingback: 5 Things You Need to Succeed as an Entrepreneur

  • http://twitter.com/asanvicente Arturo San Vicente

    Rarely I read through a so long article, but it is really good!. 

    @asanvicente:twitter 
    asanvicente.wordpress.com

  • Pingback: 20 Of The Web’s Best Advice for Startup Founders | TechStartHub

  • http://www.homefitnessfanatic.com p90x

    I wish I would have realized the importance of outsourcing early on…it would have saved me loads of time

  • Jeena

    I think it is a great article.  I wish I would have known much of this or had some great guidance when I first got started. I think the best advice is to know your target market too!

    http://www.alwaysunderpay.com

  • Debraj Banerjee

    Awesome 100 points for those who faced the real circumstances and I agree on each and every point being a Business owner. But, nothing is tough if you are focused and then stay focused…

  • http://www.facebook.com/debraj.banerjee Debraj Banerjee

    I’d been through all these rough patches.but, business is way too interesting like a ” off road track” on a motorcycle….:-) here is my company website: http://www.conceito.in

  • http://www.promotikainc.com Aalvira

    Long read but well worth it. 

  • Guest

    Now this type of details are well worth trying to find, reliable information for visitors along with a value for you personally as will certainly show the standard from the author. It’s good to possess most of these articles around to maintain the info flow steady. Helping individuals nobody could make things right later on, great work!
    Regards
    Vet tech online

  • Guest

    This web site is a superb mixture of appropriate and helpful information and well-written sentences which will certainly lure your sense increase you about new happening. Here I’ve discovered the info that I had been searching for very long time.
    Regards
    Medical billing coding salary

  • Guest

    Hello I’m so delighted Today, I truly found you in error, as i was searching on Yahoo for another thing, Anyways I’m here now and would certainly prefer to thank you for any tremendous publish along with a over-all entertaining blog. Please continue the truly amazing work.
    Regards
    christian forums

  • Pingback: 10 Hard Won Insights Revealed for Free by Entrepreneurs |

  • Guest

    The requirement to develop and mature the business instinct is paramount to sustainability and attaining edge against your competitors within the stormy weather of the corporate world. Have patience and you’ll allow it to be. It is a marathon and never a sprint. A bend and not an finish.
    Regards
    mortgage rates today

  • http://www.facebook.com/tracileighdb80 Traci Leigh Dillard-Bell

    This is a very informative article. Great information to learn from others about some trial and error and I will definitely refer back to this post.

  • Pingback: My Top Three "Things You Must Know" as a Entrepreneur

  • Aryan

    Wow…..its great to get so much thing at a place even perfect to say almost all the issues addressed at one place.My blog http://www.aryaninfo.com also write about entrepreneurship but in modules.
    Can you leave a backlink to my blog so that more people can see what i have to offer.

  • Pingback: Be Prepared To Become Inspired! « Realize Your Most Fulfilling Enterprise

  • guest

    Why just 100?

  • Mick

    This is so right.  I advise a lot of clients about starting home based, retail based or service industry businesses, and it amazes me how many of them go in with the attitude that ‘if it works, we’ll sort out the details later…if it doesn’t, we’ll never need to’.  That’s putting the cart before the horse!  Plan for it, and success will follow.

    Michael @ medical billing and coding jobs

  • Dev

    Yeah this, it’s tough when you think you’re doing it alone.  Don’t be afraid to ask questions of others, you might feel silly but chances are they have been through what you are going through…learn from their mistakes and benefit from their wisdom!

    Dev @ DIY Solar Panels

  • http://renegade-advertising.com/webdesign.php Houston Web Designer

    Interesting post. I agree with most of the points and paying attention to them will go a long way in furthering your career. 

  • http://renegade-advertising.com/seo.php SEO Houston

    You are correct Jared. At the end its about meeting your customers’ need. i totally agree.

  • Pingback: Young Entrepreneur Advice: 100 Things You Must Know « Breaking Out and Up

  • Julie

    Engaging a business of your own involves risks, challenges, problems, courage & patience, but knowing what your goal is gives you the endurance of everything that comes along. It’s really up to you to maneuver & just stay focused & positive. Thank you for the best knowledge shared, I’ll be following more of your posts.

  • http://www.annonces-quebec.com/ Julie

    Very nice article of yours. I got a lot of good insights here, very helpful indeed. Inspirational too! Thank a lot!

  • http://www.annonces.quebec.com/ Julie

    Thanks again! more power!
    http://www.annonces-quebec.com

  • Pingback: Young Entrepreneur Advice: 100 Things You Must Know! | Under30CEO | Hearticle

  • http://www.logodgear.com/execgifts.htm Custom corporate gifts

    “I wish I knew how long it would take to build a steady stream of clients
    and establish strong relationships with customers and vendors.” This is the most lame thing I have ever heard in my entire business life.

  • Pingback: ¡Antes de empezar un negocio…! | Fusión Alterna | Diseño y comunicación gráfica

  • http://medicalbillingandcodingsalaryx.com/ Medical Coding Empire

    Absolutely in agreement, cash flow beats it all!

  • Pingback: TSB Small Biz Weekly Roundup 5-25-12 | Talking Small Biz

  • Pingback: Become an online entrepreneur | New Informers

  • Pingback: 20 Of The Web’s Best Advice for Startup Founders | Tech Startup Jobs

  • Goldenarcher

    Great list!. I would also recommend The Gist – Summary of 80+ greatest books for all entrepreneurs. http://thegist.bighow.com

  • Kory Allen

    Good advice for business starters– http://www.hireawiz.com

  • Pingback: 20 Tutoriales, Guías y Consejos para los Fundadores de Startups

  • Pingback: Hello world! | wordpress

  • Pingback: ¡Antes de empezar un negocio…! | fusionalterna.com

  • Pingback: 20 Of The Web's Best Advice for Startup Founders | Alltopstartups

  • Jenn S

    Work Online Academy | Big Idea Mastermind Academy
    Working online isn’t easy so that’s why
    it’s so important to hook up with the right people who have the right
    sales funnels and the kind of leads that you need.
    Also, working with busy moms and
    dads, retired workers online, and others looking for automated systems
    can find what they need if they opt in. It really does work. From one
    busy mom to another…
    http://workonlineacademy.com/track/go.php?c=jenn_posting

  • http://www.proweb365.com/services Web Design Quote

    thanks for nice feedback! proweb365 provide custom web design at reasonable prices and is always up-front about our affordable web design services. We list our web design prices right on the website, so you can do price comparisons. I will keep track all your posts!

  • Pingback: Best Internet Marketing Posts of 2010 » Techipedia | Tamar Weinberg

  • Pingback: Consejos de Jóvenes Empresarios:100 cosas que usted debe saber! - I Love WordPress

  • Emma

    I think the most hassle free cloud based time tracking software I had used and observed comparatively all other similar tools has been Replicon product suite undoubtedly.

  • Pingback: Young Entrepreneur Advice: 100 Things You Must ...

  • Thomas

    Great list (took a while to read). You should also consider TimeSheet Reporter for Outlook time tracking. I highly recommend this solution.

  • earnonline786

    great article nice stuff here to read thanks earn online