EP#51 - The 10 WORST Pieces of Advice to Ignore When Starting a New Business

The Livelihood Podcast

English - October 17, 2020 20:00 - 1 hour - 45.4 MB
Entrepreneurship Business make money money make money online money from homes online business passive income ecommerce entrepreneur selling online marketing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed

Previous Episode: EP#50 - All About PR - How to get your first mention in a publication and using that to scale into landing the big dogs

Next Episode: EP#52 - Streetwear brand Supreme made and sold a f**king brick?! A business creates value, then sells it, so if you don't understand the fundamental value you're creating you're going to miss the mark.

Follow your passion - but sometimes I think fuck it and do that anyway. Write a lengthy business plan - the longer you spend in theory the more bogged down with the details you will become - focus on the product first. What is it and why is it good.Raise investmentTake a courseJoin an acceleratorMake sure your business name is perfectCreate the perfect brand - invest in a big graphic design agency to create your brand logo and brand guidelines.Spend a lot of money building a websiteCreate a mission statement and a company vision statementPeople will/won’t buy what you are trying to sellStart a community around an idea MVP you should be embarrassed of your first version of your product Talk to everyone who’s in your network that's relatively similar - should be focussed on action. Try to get PR for your business launch

Good bits of advice

Try to make a sale as soon as possible with a small group Figure out who your target audience/customer is and where they can be advertised to or contactedOutsource the work you can’t do yourself - but shop around for it