Going on your own. things every new entrepreneur should know.
Kylan Schilling – going on your own.
things every new entrepreneur
The idea of breaking out on one’s own and starting
one’s own business is a goal for many. Rightly so.
Successful entrepreneurship means creating your
own opportunities and destiny; it means following
your worn work schedule, as well as making a
difference in the community; and perhaps most of
all, it means developing a business that you love,
that you put your passion and soul into.
With all these positive points, entrepreneurship is
still not for everyone. As McDonald’s founder, Ray
Kroc, once famously quoted,“If you’re not a risk
taker, you should get the hell out of business.”
That business being entrepreneurship.
This is true. Starting a new businessis not easy.
However, for those who are willing to take risks
and who want to be their own boss and manage
others (as opposed to micromanage others), and
those who are willing to dedicate themselves to
building a new business from the ground up,
entrepreneurship is a perfect avenue.
What do new entrepreneurs, or those who are
thinking of breaking out on their own, need to
know to make their entrepreneurial path easier
and more successful?
That’s a good question to consider. I know when I
started my first business, I was very much in need
of some mentoring voice or resource that could
guide me in the difficult questions and scenarios
that I would inevitably face.
I was fortunate enough to have several contacts
who were invaluable in providing me advice as I
started down my own entrepreneurial path.
In a similar way, I thought I would share some tips
that I’ve learned over the years, based on my
experience in forming and building several small
The beauty of checklists.
We live in a fast-paced environment and when you form
your own business, you’ll quickly see that the pace
dramatically quickens. Not only that, you’ll often see
that you have twenty tasks to complete, and they will be
coming to you all at the same time.
There are many organizational tools available online.
Those can help. But, what I’ve found most helpful are
checklists. Learn to use checklists and learn to keep
them updated. Based on my experience, they are
instrumental in staying organized and on task.
The business that you form is just that – your
business. But, there’s a big difference between
managing your business and micromanaging it.
As your business grows, increasingly you will have
to let your other team members take control of
certain responsibilities. In turn, you as a business
owner will have to be comfortable with passing
responsibility of smaller tasks to your staff. The
fact is that without being comfortable in the art
of delegation, your business will remain no larger
than one person – namely, yourself, the business
Collecting what you are owed.
Many new business owners excel in pleasing their
growing clientele and offering a product that truly
meets the needs of the market. That’s excellent, and
essential. But, often these same business owners fail in
one key area – making sure they are paid for the work
and product they provide.
As a new business owner, it’s essential that you also
become comfortable with talking about money
andnegotiating with your clients. More importantly
(and something that is difficult for many), you will have
to grow comfortable with the task of collecting money
from your clients. Collecting money, especially from
clients who are late in providing payment or avoiding
payment, is not a fun thing. But, at the same time, a
reliable income stream is essential for your new
“Kylan Schilling, don’t get discouraged if you make
mistakes. It’s going to happen.”
Last but not least, when I started my first business,
I quickly realized that as a new business owner, I
would make mistakes, a lot of them probably. In
fact, I remember thinking to myself this exact
statement, “Kylan Schilling, don’t get discouraged
if you make mistakes. It’s going to happen.” In
realizing this, I made a personal vow to truly learn
from my mistakes and take something away from
As an entrepreneur, learn from your mistakes;
don’t just say you will.
On that note, I thought I would end this article
with one more quote that should be an
inspiration for all entrepreneurs. In the words of
There are only two mistakes one can make along
the road to truth; not going all the way, and not
starting - Buddha