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The First, Last & Best Law of Starting a Business


Barnstorming Aerial Stunts from the 1920s, www.friendsreunited.co.uk
The First Law of Wingwalking:
"Don’t let go of what you’ve got
until you’ve got a firm grip on something else.”
 
The first point to be made when starting a new business is to not let go of what you've got until you've got a firm on something else.  In simplest terms, do not quit your job until you know exactly where you are going and how you are going to get there.
 
A variety of research reports on new business formation point out that most entrepreneurs
  1. continue to work fulltime during the early formation days of their business,
  2. often work part-time after that, and 
  3. invest from six months to a year preparing to start their business before they make the "big jump."  (refer to the picture above.)
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Comments

  1. UnknownMarch 3, 2014 at 6:34 AM

    This comment has been removed by the author.

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  2. UnknownApril 2, 2014 at 12:51 AM

    It is exactly right and I like your ideas. Whenever you have started new business you need to stick to that so that you can start your business in a proper way as we all knows that in stating we need to do our best and spend more and more time in making business and new clients. Nice sharing and a great way of writing.
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  3. HasanJune 18, 2014 at 7:58 AM

    Excellent post - thanks for the information. I would really appreciate it if you can read my Business For Sale article and give feedback and reviews. Thanks once again for this outstanding post.

    ReplyDelete
  4. UnknownJuly 10, 2014 at 12:48 AM

    I can say this is the perfect blog for everybody who read and post here everyday. I don't know why I always visit here maybe its so nice to read here a interesting topics all day.
    selling a business

    ReplyDelete
  5. VigneshAugust 26, 2022 at 2:36 AM

    Managing a company and its employees, and treating its customers, is the essence of business compliance.Governing authorities and other authorities refer to human resource compliance as adhering to organization standards.

    ReplyDelete
  6. GwayERP softwareMay 24, 2023 at 4:29 AM

    Awesome article, it was exceptionally helpful! I simply began in this and I'm becoming more acquainted with it better! Custom erp software development

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