Far too many people fail at business because they follow their hearts and passions… and completely ignore facts and figures. Our hopes, dreams, and aspirations can sometimes work against us and blind us from the actually numbers, margins, and market research. When this happens, we set ourselves up for failure. But if you want your business to truly succeed, do your homework. Understand your product, your market, your margins, your overhead, and your challenges. Make sure you are capitalized enough to get completely off the runway. I promise, you can find the needed money or lower the overhead. Others have done it, and you can easily find out how they did it when you do ALL your due diligence. 

Look, so many people have great ideas and passions. Most entrepreneurs out there possess the drive and desire to succeed at business. If you do ALL your homework, you will be ahead of the vast majority of your competition.

So get to it!

One Response

  1. Jed Jurchenko

    Great advice! As a recovering perfectionist, im learning to do my homework & dive in at the same time. Im one of the odd people who would happily study in a Starbucks all day. Over the last year I’ve been learning to study, while diving in head first. I’ve discovered that some lessons can only be learned on the journey. I would add to the conversation, “Do your homework & dive in too!” Thanks for a post that caught my eye & got me thinking!

    Reply

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