What tip would you give to someone in their 2nd year of business?
Alexandra Cote
7 replies
Any tips for founders who've made it past the first year on scaling, decision making, etc.
Replies
Johny burg@johny_burg
Keep as much liquid cash handy as you can. Not having enough to pay bills, buy supplies or take advantage of new opportunities is a business killer.
Share
"Don’t be optimistic.
Optimism leads to overspending. Overspending leads to not having enough capital to move forward.
Keep your head down and just move forward humbly.
Don’t get high, nor boastful. No arrogance. Don’t buy the best computers. Don’t pay for a press release service \Slow and steady. You want to be able to measure your success in years, not days."
My rule of thumb for starting a new business is that it will cost twice as much and take twice as long as you thought even after you allowed for it to cost twice as much and take twice as long as you originally thought.
Have at least 5 years of experience in your chosen field preferably 10.
I'd say get a mentor or an advisor who is well experienced in your sector. This way they will be able to provide you with advice and you will have access to their network.
For me, the first tip is to set up your business. to be honest, I was asking the same question. Can u imagine? If you really want to do business, this site will help you a lot. - On this u can do registration without too much trouble. Everything is very simple and clear explained and even the price to register all the necessary documents is already written. In case you have any problems there is a helpdesk or comments box where you can ask any questions. Have a nice day and evening. Hope this will help you!!!!
Young businessmen want their business to be successful, right? And in order for it to be successful, you need to engage in PR and automate many processes. The last feature I introduced is ivr. is a virtual voice response that serves as a quality replacement for your employees to communicate with customers. ivr design best practices you can find here - https://dialics.com/blog/call-tr.... I strongly recommend introducing cool things that automate many processes, this will save you both time and money.