10 Tips to Shorten the Start-Up Learning Curve

When you start a business, be prepared for a steep learning curve. You will learn about finance, accounting, business law, marketing, cash flow, personnel, competition, technology, product delivery, customer service, and some topics you swear do not exist. How fast you learn determines how quickly your business turns a profit.
When I was the managing editor of a national magazine, the editor decided to take a month's vacation ... and never returned. He was someone who had to be in control and made all the decisions. I had to learn accounting practices on short notice to take over management of the publication.
Here are 10 tips to shorten the learning curve in starting your business:

1. Get involved - Serve on a board of directors if asked, and learn how a board is structured and how it operates.
2. Network - Choose a closed contact network and be visible so you can build credibility and relationships with the other business owners in the group ... check out www.bni.com.
3. Hire consultants - Professionals are available to help your business grow by providing expertise in areas where you can use the most help, like accounting, taxes, contract law, marketing, financing, and business strategies.
4. Listen & learn - Pick up some business-oriented CDs or download them and listen as you drive, while you're working out, or while you're working on your computer.
5. Hire smart people - They can make you look great, you can learn from them, and they can help your business grow if they're smarter than you are in some areas.
6. Pick some brains - Find successful business owners you'd like to learn from and take them to lunch or dinner and glean as much information from them as you can. Most are willing to share. Remember to thank them ... and reciprocate when you can.
7. Try trial and error - Always an option to get your education from the school of experience; although they can be painful, mistakes can be valuable teaching tools.
8. Listen to family and friends - While you may be too proud to take their advice, your family members ... especially your spouse (if you have one) ... and friends see your business from a different perspective than you do. That can have value.
9. Keep asking questions - You will continue to learn about business as long as you're in business, so keep an open mind about everything and anything that touches your world.
10. Pay attention to your customers - There's a reason they buy from you. It is good to know that and build relationships so they can give you the feedback essential to your growth.

Contact Fluidity for resources that are available to you when you're ready to hire consultants.