This article was originally written and published for Blue Flavor
Thursday, March 30, 2006
Anytime is the Right Time to Start a Company
I saw David’s post yesterday on being a great time to start a business which led me to Caterina’s post on it being a bad time to start a company
I feel that anytime is the right time to start a company. External forces are not what makes a company succeed or fail. It is your passion, commitment and love for your idea that will make or break a company. And just as in life, a successful company is not about the destination, it is about the journey.
1. You should do what you love.
All this talk about VC’s, competition, talent pools and web 2.0 is pointless. (Brian owes $1 to the banned-terms jar. -Ed.) If you plan to start a company, it should be something that you are passionate about. The best ideas always come from passionate people, and passion is contagious. Your love of what you do will attract other like-minded people, be they talent or customers. The lifeblood of your company will be your unwavering love for your idea: this will always breed happiness, confidence, authenticity, truthfulness and perseverance from yourselves and whomever you deal with.
2. Anytime is the right time to do what you love.
There is no right or wrong time to do what you love. Just as in life, once you’ve identified what will bring you happiness and satisfaction, go after it with dedication and spirit. Do not procrastinate—advance directly to GO! It is a big leap and can look very scary, but I guarantee you, whatever happens, if you love what you do, it will be worth it. You may not get it right the first time, but if you are even thinking of starting a business, I bet you will look back at the early days as some the best in your life.
3. Find someone to support and coach you through it.
Finding solace and support in others is crucial. You are making one of the biggest decisions in your life and you should have a few folks around you to help keep it together. Talking to your partner and family up front about why you want to start a company and the challenges you may face both personally and financially are crucial. Without their support, you cannot succeed. But also seek out a coach or mentor. It could be someone in your industry who has also started a business, an attorney or accountant (who won’t charge you for advice), someone from the Small Business Association, or maybe just a friend or family member with no experience at all. Identifying your support system will make the worst of times feel a little better and maybe even a little fun.
4. If you do what you love, rewards will follow.
Set the expectation from the get-go that you are not starting a company just for the paycheck. A company takes time and you will encounter many challenges. You should be doing something that you would be willing to do for free, as there could often be times that you will. The biggest rewards come from doing what you love and living your dream of being a entrepreneur, not the paycheck, no matter how big or small it may be.
5. Have an exit plan, but more importantly have a business plan.
It is okay to want to make money with hopes of cashing out at $500 zillion, but your exit plan should not be your business plan. Build a business that you love and plan to care and feed for many years. If your golden opportunity comes along sooner than expected, fantastic. But that should never be your goal from the beginning. Remember that no one likes working with or for someone that is just out to make a buck.
We launched Blue Flavor at the worst time of the year to start an agency: in October, just as most project budgets are winding down for the fiscal year. But the time was right for us to do what we loved.
We talked openly and honestly to each other about what we did and didn’t want to do. We were up front with our families that the first several months could hurt, and we took the plunge.
We are still just starting out. We’ve had some very tough days and still have many challenges in front of us. But the worst day at Blue Flavor is light-years away from the worst day I had working for someone else.
Regardless of how bad it may seem, we are doing what we love to do.
This article was written by Brian Fling. Brian and his wife Cyndi run Fling Media, a small studio based in the garage of their Seattle home. As well as providing web and mobile design services, they are currently endeavoring to create six products in one year. If you like what you’ve just read, try working with us. (Photo by Kris Krug)