April 7th, 2009 by Joshua Bob

Are you ready to be an Entrepreneur? Not everyone is. In fact, since more than half of all new businesses fail within the first five years, you probably want to be sure that you’re prepared for what it’s going to take!

You’re Not Quite Ready If…

1. You’re not comfortable being the decision maker

Are you the kind of person who is comfortable having the final, non negotiable say in something?  You’ll need to be when you decide to start your own business. Countless times you will need to make “make or break” decisions about your business and those decisions will be yours alone. Other times you will need to draw a line in the sand and stick by your guns on a decision you know is right for your business – if you’re not currently comfortable with that, you’ll need to get there.

2. You lack long term focus

Some people live day to day, or have a hard time planning past next week. That’s fine in your personal life, but in business a short term outlook can be a killer. You’ll need to be comfortable planning for the next five years, and maintain focus on that plan in order to be successful. Remember – Short term outlooks lead to short term goals. And I’m sure you want to be in business long term.

3. You lack time or willingness to reprioritize your life

If you can’t picture a life where you won’t be able to watch every episode of Survivor, business owner ship may not be for you. Starting and run a profitable business takes an inordinate amount of time, and while we all have other commitments outside of our businesses, you need to sacrifice and reprioritize your personal time to make it work.

4. You don’t have the support of your significant other

Starting and running a business will affect your family, and especially your significant other more than you realize. They shoulder much of the burden of the startup, even if they aren’t actively involved in it’s management. Their support is imperative to your success. If they are not supportive, work to get them there before you launch.

5. The thought of 16 hour days make you cringe

As we said above, starting and running a business is an inordinate amount of work. The myth is that business owners have a lot more free time than the “wage slaves”, but that couldn’t be farther from the truth. You will work longer, harder, and more intensely than you ever have working for someone else.

6. You have a hard time accepting full responsibility

Everything your business does, or does not do, is your responsibility. Sure a supplier may have dropped the ball, or an employee screwed up, but guess what? You are the person who will need to answer to that. More times than I can count I’ve had to step up and take responsibility for something that wasn’t necessarily my “fault”. It’s part of paying the cost to be the boss – be ready for it.

7. Your personal house is not in order

You will need to be in a strong position personally to make a business work. This means in a good place with your relationships, finances, and state of mind. When you are in the early stages of building a business you will be faced with numerous situations where throwing in the towel seems like a good idea. The stronger a personal foundation you have built the easier it will be for you to push on and make your venture a success.

Reprinted from SmallBizBee.

April 6th, 2009 by Joshua Bob

Every entrepreneur needs an Elevator Pitch. Heck, if you ask Dan Schawbel, every person needs an Elevator Pitch!

Here are some tips on How to Write Your Elevator Pitch. Learn them; love them; live by them!

April 6th, 2009 by Joshua Bob

Not all entrepreneurs work from home, but many do (including me!).

For those who do, LifeHacker offers their Top 10 Home Office Hacks. I especially love #10 – GET MORE LIGHT! I need to open my shades.

Home Office, LifeHacker

April 3rd, 2009 by Joshua Bob

Of course, not everyone is ready to make the leap to KnowThenGrow.

In the meantime, why not check out this great article: 60 Resources for Entrepreneurs to Take the Next Step!

April 2nd, 2009 by Joshua Bob

Welcome to KnowThenGrow!

Know Then Grow is a consulting firm that helps new ventures get off the ground. We specifically work with new small businesses – and ones that don’t yet exist – and help them succeed.  We work with your company to find experts who can help you grow, regardless of your current size.

Know Then Grow is a both a resource and a service provider, customizing our consulting approach for each client. From early-stage feasibility studies and market research, to branding and raising capital, every business has different needs, and Know Then Grow understands the steps necessary to take start-ups from concept to success.

Know Then Grow levels the playing field for would-be entrepreneurs by helping with everything from concept research and product development, to branding, marketing, and raising capital. We take a “can’t-miss” idea and make sure that it doesn’t, by helping research the market, competitors, and other factors that a new entrepreneur might not consider.

Know Then Grow allows clients to forego the normal fee structure, and instead give a small stake in their firm in exchange for services rendered. This allows early-stage companies to spend less on consulting and more on succeeding, as well as giving Know Then Grow a stake in our clients’ success.