Economy, Business & Jobs

Advice for starting your own business

Stephanie Curtis Nov 1, 2012
7

We’re talking about aging entrepreneurs today.

We’re going to get advice from some entrepreneurs that hopefully can apply to everyone.

Here are some tips from the Get Rich Quickly blog. This is some of the advice gathered from the founders of Green Ronin, a gaming company:

  • •Be wary of going into business with your friends.
  • •Do your research.
  • •Start slowly.
  • •Create boundaries. Know where your work life ends and your private life begins

What advice would you give to new entrepreneurs of any age? What hard lessons did you learn?

–Stephanie Curtis, social media host

  • Stephanie

    Advice from Chris Farrell:

    Be skeptical of forecasts. Ten years ago, you would never guess that vinyl records would be a legitimate business. It is.

    He also says find a really small niche and exploit it.

  • Chris Bruhn

    I recently just graduated with a master’s in engineering but I strive to own my own company related to arts production. I knew going in to school that I wanted to have a fall back option in case of hard times or if what I wanted to do couldn’t pay the bills. Now that I’ve accomplished that goal, a few friends and I are working in our off time on a business model for a multi-faceted art production company. The work that we’ve put in is so exciting and satisfactory and not something I get at my current engineering job (not that work is boring per se, but the feeling of being responsible for your own enterprise and ideas is an entirely different feeling). I’m so excited to see where it all takes us!

  • Stephanie Curtis

    More Chris Farrell advice:

    Be cost-conscious. Don’t blow through your 401K.

    Keep in mind that entrepreneurs are a community. Reach out and you will find mentors.

    Also look for incubators in your area.

  • Stephanie Curtis

    “You’ll be a long time dead.” That’s wisdom that guest Kieran Folliard’s father passed onto him. Kieran interpreted that to mean “take advantage of life.”

  • Stephanie Curtis

    Entrepreneurship is a team sport. – Edward Rogoff: Professor, Department of Management at the Zicklin School of Business at Baruch College.

  • Jamie

    Why did you delete my comment? And why have you not answered my question in the other blog topic?

  • vjacobsen

    I’ve co-owned a business for a year plus, so I still have a lot to learn, but this is some of my advice:

    -Don’t pay anyone to do what you can learn to do yourself. Ever.

    -Be ready to change your model as you learn what works and what doesn’t– and don’t wait to make those changes.

    -Find REALLY great mentors, preferably as you are getting started.

    -Be prepared that it will take longer than you think to break even.