Starting a Business, Part 1

This will be an ongoing series on starting a business, not in a technical sense, like where to get a business license, whether a LLC or Corporation, etc... but from a personal view.

About me:

I own 2 LLCs and I want to share the blessings and curses of both. One business is a software business and the other is a magazine, http://www.cmmquarterly.com/. The business has been operating for over 4 years and the magazine for 2 years. What I will share in this series is my experiences. Hopefully I can point out some pitfalls that you can avoid.

Entrepreneur

Entrepreneur, what is it? Am I one? An entrepreneur is someone with a passion to do something they love. Having said that; they are sometimes crazy to endure the hardships and rejections that come along with starting a business. If you are someone that doesn't deal with rejection well it is time to rethink what you're doing before you invest a lot of money. This truely something you need to stop and think about. No, really stop and think about it. Can you handle even your closest friends not believing in what you think can sell and what is marketable?

There are hundreds that will line up to tell you can't do it. Each one may be sincere but look at their comments objectively. Is there some truth to what they are saying? or are they of the group that haven't or will not put out any effort of their own to make anything to succeed. Plenty of people are experts in things they don't know anything about.

Honesty

Honesty in business affairs is of the utmost importance. Your character matters. Having the best product out there is great but a bad reputation is a deal killer.

Honesty also applies to yourself. Be honest with yourself and admit your mistakes if not to others at least to yourself. Look honestly at your business, did you make the right choices? So you need to change anything?

Well that's it for now. Come back and maybe I can pass on some insight.