Skip to main content

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.)
*  *  *  *  *

Comments

  1. This comment has been removed by the author.

    ReplyDelete
  2. 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.
    wealth management orange county

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

    ReplyDelete

Post a Comment

Popular posts from this blog

Lucrezia Borgia, Entrepreneur

W ho was Lucrezia Borgia?  Tradition has it that she may have poisoned her second husband, Giovanni Sforza.  Rumor of the day had it that Lucretia had incestuous relations with both her father, Rodrigo Borgia, later Pope Alexander VI, and her brother, Cesare Borgia.   What is know for certain is that Lucretia was the illegitimate daughter of Rodrigo, then a cardinal of the Catholic Church, and his mistress,  Vannozza dei Cattanei.  It is known that she was married three times, the first being annulled as never being consummated (despite her giving birth a few months after the annulment).  The second marriage ended in the death of her husband, Giovanni, and her third to  Alfonso d'Este, son of the powerful Duke of Ferrera.  This was also to be Alfonso's third marriage, which ended when Lucrezia dies ten days after she gave birth to a stillborn daughter.  She also had affairs (as did her husbands) with several political figures of the day, and even gave birth to the

Business should embrace 'boomerang employees'

Source:  themajors.net What should you do when an employee leaves. . . and later asks to return? It may be an emotional instinct to react by rejecting their request to return. But why?  If you take it as a personal rejection when an employee leaves, you may be cutting off your own nose to spite your own face. As these studies from the University of Illinois point out employees leaving then asking to return may just be offering you a big compliment to the way you do things.  Perhaps they thought they'd be better off elsewhere only to find they were well off where they started.  Not a bad message for other employees to hear if nothing else. Boomerang Employees   Organizations of all types are beginning to recognize and embrace the value of recruiting and welcoming back former or boomerang employees. From infantry soldiers to chief executives, accountants and professional basketball players, many organizations proactively recruit and rehire former employees as a way t

Consider the role of the family in career planning

Non-work orientations are related to higher career  and life satisfaction The study shows that the salaries of people who have strong non-work orientations are not negatively affected. In addition, they are happier with their career and with life in general. When planning a career, many people take non-work orientations into account, such as family, personal interests and civic engagement. Psychologists from the University of Bern (Switzerland) have found out that people who strongly consider the role of the family in career planning report more satisfaction with their career and their lives in general. Surprisingly, non-work orientations also showed no negative effects on earnings. People differ greatly in terms of how much they consider nonwork roles, such as family, personal interests and civic engagement when making career decisions and planning their career. Up until now, it was unclear how the consideration of nonwork roles affect career success and satisfaction