The Best of 2018: Five Business Tips Startups Need to Know

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At the LIFT Office, in Grapevine, and across the DFW area, I see ordinary people, living each ordinary day honorably, with selfless concern for others, and in the process, creating truly generous lives.

I started LIFT Speaks in 2018 because I saw these men and women doing work that mattered. They are doing work they believed in, work that was impacting lives . . . and their stories needed to be shared.

I watch men and women who are creating jobs, supporting families and investing in their communities.  Men and women starting over after job losses and transition into something far more beautiful and life-giving.  I see men and women, push past the voices outside them and within them to stay the course and do work they believe in day by day by day.

Many of these people have taken the leap and started their own businesses.  Here are some insights from men and women who run their own companies to those who are considering doing the same.

My advice to those considering starting a business is . . .

 My advice to others considering starting a business is . . . ask a lot of questions of successful, prayerful people. Look for honest answers.  – Chuck Finney, Finney Media

My advice to those considering starting a business is . . . take the time to research and plan for your idea but don’t wait for perfection. There’s never going to be a perfect time to start this journey.  – Erica Davis-Frimpong, Anne Admin 

My advice to people considering starting a business is . . . Get your personal finances in order, prove your ideas in a low-cost environment, learn about small business because running a restaurant is radically different from being a good cook. – Ross Paterson, XM Performance

My advice to those considering starting a business is . . .  Understand why your business will matter and why the marketplace wants your business.  When you can answer those questions and when your business model has a rational financial explanation, then you have a chance.  Also, your business is about execution – not how great you think your ideas are. – Tom Miller, Symbolist & Director WCU Professional Selling

My advice to those considering starting a business is . . .  I would advise them it’s going to cost you twice as much than you think it is to get started.  It is also going to take you twice as long and it’s going to take you three times as long to get to the revenue level that you think you’re going to get. So make sure that you have plenty of cash or that you’re planning has a lot of cushion in it. Because the number one reason that startups fail is they run out of money too soon. – Micah Buehler, Fractional CFO

 

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