To those thinking of starting their own business, let us offer our two cents worth of insight.
The first thing to remember, is fundamental--and may sound obvious but it does bear mentioning nonetheless. And that is, there is risk --significant risk--- in starting your own business and it is quite natural to be scared when doing so. We sure were when we started MakeBeliever and rolled out our first V-Greeting. Even Henry Ford was scared when he was invested in the world’s first mass produced car. But the trick is to manage it and minimize it. How? Research, research, research. Do your homework! Poke holes in your idea, play Devil's Advocate honestly, have other people do the same. What will happen in worst case scenario? Do you have enough cash to survive the first few months of ramp-up? In short, look for reasons it might fail and then how to address those risks. The most important thing to take from this week's entry is not to let fear get in the way of a great idea. Have a great idea? Go for it or somebody else will and you will be kicking yourself the rest of your life