M.B.A. (A.K.A My Business Advice)

June 22, 2010 § Leave a comment

As you may know, I had my own business before. I like to say this business was a complete failure. But as Brad likes to point out, the money I lost on that debacle was actually less than one MBA class. When I think about it that way, the two-year episode seems more or less…how do you say it… invaluable.

As I was taking my MBA classes, I thought about my business a lot. Having experience in failure made things resonate for me that probably wouldn’t resonate for people who are either successful right off the bat (jerks!) or who have never experienced business in its infancy before.

I’ve been reading McSweeney’s lately and as a result, am in the mood for a list. So, here’s a list of things I learned from the mistakes I made the first time around.

  • You need to spend money to make money. But if you can make money without spending money, don’t spend money.
  • No single day (good or bad) defines your business.
  • Start small. Test. Grow a little. Test. Grow a little. Test. Repeat. Repeat. Repeat.
  • It really, really, really is who you know. However, exactly *who* will surprise you.
  • Harsh feedback and money are the same. You need both and they are both hard to get (espesh in the good old MN).

Tomorrow = Cold Calling. (I’m writing this here so I don’t chicken out.)

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