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. UnknownMarch 3, 2014 at 6:34 AM

    This comment has been removed by the author.

    ReplyDelete
  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.
    wealth management orange county

    ReplyDelete
  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

    ReplyDelete

Post a Comment

Popular posts from this blog

The Seven Characteristics of the Creative Employee.

How to Find Good Employees : On my post of February 18th of this year, we talked about the role of managing stupidity in the success of any organization.  "Stupidity Management" refers to the real need of a business to know the difference between routine tasks that must be completed by rote and those tasks that require innovation and fresh thinking.   Every business has a need for discipline in tasks that must be performed the same way, each and every time. Every business has a need to creative thinking and fresh ideas on certain other tasks or problems, just not every task of problem.   The Hunt for the Creative Individual There are certain jobs in every organization where you, the owner, need original thinking.  Or perhaps you're running a business that lives off original thinkers.  An advertising agency is a business where the company's assets walk out the door every day at five (ish). Professor Øyvind L. Martinsen at BI Norwegian Business School has co
5 comments
Read more

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
Post a Comment
Read more

Earning a Living with Your Music II

Amanda  Plays a Mean Blues Harp When Amanda Grzadzielewski was four years old, her parents purchased her a piano and paid for piano lessons.    Three years later she was with her parents visiting Seattle’s famous Pike Place Market when she heard two musicians playing and talking with a crowd of listeners that surrounded them.   Her reaction was to say to herself, “I want to do that.” Fast forward to 2012, and Amanda and parents have moved permanently to Poulsbo near Seattle and the University of Washington where her father studied mathematics.   True to her dream, she’s busking for passersby at Pike Street Market to earn an income, to find performance opportunities and to find students in her three instruments of choice, piano, guitar (since age 14) and harp (the past three years). Arriving in Poulsbo just this past June, she went to work introducing herself to business owners and civic associations, printing up a business card then dropping by various related busines
4 comments
Read more