Preparing for Entrepreneurship
"Here are the top ten things I either did, or wish I had done, before I started my first business.
1. Become an IntraPreneur...Some entrepreneurial skills can be learned in a corporation (when the failure is on their dime instead of yours). Make it known that you want to lead a new effort, organize a team, do market research etc. Take it on even if it is extra work that you don't get paid for. The experience will be invaluable.
2. Save money...
3. Network...wisely...
4. Learn the Industry. If you already have your idea, learn as much as you can about the relevant industry. If not, just pick a few interesting ones to target...Start a blog following industry topics. Even if no one reads it, writing will help you remember facts and clarify your ideas.
5. Learn About Entrepreneurship. Dr. Jeff Cornwall claims that studying entrepreneurship will greatly increase your chances of success. Learn why people fail. Learn what challenges you will face. Learn what is most important for new companies.
6. Read...
7. Test the Waters...if you can run small scale experiments that validate your idea, you will learn a lot of things that will help you when you really launch...
8. Learn To Sell...Take a part-time job, help a friend who has a business, whatever it takes to get some selling experience.
9. Study Financial Statements...you need to understand how money flows through a company...
10. Line Up Your Resources. Familiarize yourself with the different programs offered by the SBA. Check out the Kauffman Foundation. Learn about all the programs and services that can give you advice or money. You may need lots of both..."
Read more, including a bonus tip, in this Businesspundit post.
