Tag entrepreneurship

Hollywood producers say “never spend your own money.” I agree.

Ah, my first post. To this particular blog, anyway. I could do what I usually do and agonize over how to introduce myself and this blog, but I think I’ll just jump right in. Consider yourself welcomed.

I’ve started a lot of businesses in this lifetime. Depending on how you count, it could easily be over a dozen. I try to launch at least one new product or service every year.

I’d like to do more, but there are only so many hours in the day. So, I enjoy talking with other entrepreneurs and following their ventures. Some are serial entrepreneurs like myself, and they start a lot of businesses. Most of those businesses fail or don’t perform as intended, but that doesn’t bother them much, they learn from it and keep starting new businesses.

Others would be more accurately labeled “wannabe entrepreneurs.” The wannabes usually want to hire my web design company to build them a big expensive web site, which they plan to finance with a bank loan.

Hearing plans like these puts me in a forehead-slapping mood. The simple fact of the matter is that most businesses fail. No one plans to fail, obviously, so we are talking about failures that you don’t and can’t expect. And not necessarily because of a bad idea, bad plan, or bad execution. Everything can go right, then one day, your parents fall ill and you decide to shutter your business to spend more time with them.

You need to start with the understanding that the odds of your business being around in 5 years are slim to none. You need to be 100% okay with that. It’s really not a big deal.

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