What follows is a random [tag]collection of tips, observations and ideas for those who are contemplating starting up their own business[/tag]. If you can find one nugget in the list that helps you as you begin your journey, great. If you cannot find a single usable thing,–well, as[tag] Steve Martin[/tag] used to say, [tag]“Excuuuuuuse me.” [/tag]

This list really started because no matter how much one studies entrepreneurship, a lot of it comes from the “learnings” that happen daily. Most of these learnings are counter-intuitive, meaning they are not all that obvious. All of them were expensive lessons.

1. Take a speed reading course. These days one needs to be able to read reports, white papers, newspapers, magazines, business literature and even blogs. If you are a reader that still sub-vocalizes each word, you just won’t be able to keep up. I think the will to read and the ability to read is paramount to your start up success.

2. A must-read list: No list can start without [tag]Atlas Shrugged[/tag], by Ayn Rand–next to the Bible, the book that most business leaders of the last fifty years have said influenced them the most. Reading this book will add to the fire in your belly. Next, [tag]Solution Selling[/tag]. Out the 2.328 books on selling, this book is by far the best. It breaks apart each step of the sales cycle/process so almost anyone can understand how to make more sales, the absolute KEY in any start up. The second best sales book? [tag[Conceptual Selling[/tag]. The third book is [tag]Emotional IQ[/tag] by Daniel Goldman. I think creating a startup environment is as much to do with the culture and getting people to do things than anything else. Goldman helps the reader understand how critical managing your emotions can be in this process.

3. Get comfortable asking for advice and help. Although there are plenty of people who have created successful businesses on their own, most need help. They bring the basic skills and passion, but learning from others is abolute paramount. If you are someone who knows everything, good luck. Seriously, good luck. There are many, many friendly resources that are willing to help you get up and going. You just need to find them, and ask for their help and advice. These folks LOVE and WANT to help you.

4. Present your startup idea to anyone who will listen. And even to those who won’t. This is a world that does not reward security and safety. If you are hestitant about exposing your idea to others, you won’t be able to expose it to prospects, customers and investors. Don’t expect constant support, either. Most people will say something like, “yeah, that sounds good. You should do it.” What you are looking for are those few who ask good questions or who challenge your thinking process and research.

5. Get really, really good at concisely stating your business idea. A lot of entreprenuers fail in this area. It is important because you will need to communicate this to prospects, investors and new employees. What I have kept in my mind constantly over the years, is one internal question as I have started expouding on some idea: Later tonight, GL, (what I call myself) what will he say to Hilda about my idea? Or, as a great friend used to say over and over again, “if it is fuzzy in the pulpit, it is really fuzzy in the pews.”

6. Find a metaphor that works for your business idea. It will just help you identify your business to others. Are you the FEDEX of dog products? The Amazon of doll clothes? The Heath brothers have written a very clever little book called [tag]Make It Stick[/tag], which helps develop this theme more completely.

7. It is about leadership, not management. If you have not led people yet in your career, it is certainly not a prerequisite for success. You can get the experience. Basically, it is all about getting people to line up behind your ideas, embracing your vision as if it were their own and getting people to do things. That might sound manipulative…getting people to do things for you or without their consent. It is just the opposite of being manipulative, it is more about giving up things, than controlling them. I believe there is ONE consistent trait of good leaders, which I will discuss later in this list. You can learn from the masters. This is where your ability to read will make all the difference. What is OUT THERE, are books from historical leaders that tell you exactly how to be a better leader. One thing you can do now, is to become a leader…whether at home with your kids, by coaching or by volunteering somewhere. I think some of our best coaches got started by coaching kids’ teams, for example. Getting the kid whose idea of a game is a pile of dirt and a stick to know when to tag up is true leadership. Or, rent the old movie “Twelve O’Clock High.”

8. Love your prospects. This is a different and more specific than the axiom of Be Passionate. This was really brought home to me several years ago, when I attended a new company investor presentation. After the very professional presentation, the co-founder was asked in a small, friendly group of people, if he had always believed in this approach. (The company was in the self-help space.) He said, ‘No, I don’t believe in it, but it looks like a wide open market.’ If you are approaching the business from a purely economic standpoint, you CAN make it work. All I am saying is it makes it all more fun and believeable if you love the prospects and customers. [tag]Warren Buffet[/tag] owns [tag]Dairy Queen[/tag] and I ‘d bet you a marshmellow Blizzard that even Warren loves DQ ice cream. One thing he would not say is “no, Americans should not eat ice cream.”

9. Know what you are good at. Chances are, you are very good at one thing. You will be successful if you can get yourself in position to use your one thing more often in a positive way. It is not a problem if you are not good in every facet of your business. It is more important that you realize that others can do what you cannot.

10. Build your team. Everyone knows building a team is critical. Here are some little things you might not know. Hiring a big company experienced only person because of their industry skill is very, very risky. It seems to me that every big company person wants to be in a smaller company. Frankly, sometimes it is nearly condescending. What they don’t want is exposure to a one-deep work environment. I would make sure they have worked for another company AFTER IBM or General Mills. Next, try to meet the spouse. I am not a big proponent of going out to play bridge or socializing if you don’t want to, but I do think it is critical to assess whether the spouse is going to be tough and supportive enough. Next, if they can describe how their part will impact the customer, that is also key. Further , don’t hire any assholes. I want loyalty to the ’cause’ no matter what. These few sentences do not do this topic justice, but you get the idea.

11. What pain are you fixing? Every new business must fix something for someone. It might be an inefficiency or a lack of a necessary feature. In my first company, [tag]Scott Drill[/tag] and I fixed only one problem and it wasn’t even associated with the better product that we had developed. The problem we fixed, or the opportunity that we took advantage of, was that the killer dealer network was being ignored by the acknowledged monopolist, Kroy. These dealers were upset, worried about their futures and angry about [tag]Kroy[/tag]‘s new distribution methods which were in direct conflict with them. When we presented our product to this pissed off sales network and pledged our constant focus, it was exactly what they needed and wanted to hear. Our product was better, but if we had not solved this real problem for the dealers, they would not have supported us or sold our product. Every new company needs a pain to fix. [tag]Varitronics[/tag] was built on this concept.

12. Can you handle pressure? One thing you can depend upon is the amount of pressure you will be under. Some might be self-imposed, most will be from external sources. Sales people will want something easier to sell, investors want faster progress, others want more or less and constantly. How you handle these pressures will go a long way to determine your success. Someone told me a long time ago, that my only job was [tag]“to make the comfortable, uncomfortable, and the uncomfortable, comfortable.”[/tag] I think that pretty much sums up the new company leader’s most critical assignment.

13. Get good at motivating yourself. During tough times, can you do it? It is easy to motivate yourself when all is well..much harder, when it is fourth down and time is running out. Be self aware enough to understand this ability or capability in yourself. Find something that seems to work constantly, some trigger or mechanism that allows you to keep on keeping on. I can remember someone coming into my office one day, and asking if ‘something were wrong, if we were in trouble?’ When I answered no, and wondered why he had asked, he said, ‘Well, we have noticed how serious you have been and not smiling, so we assumed something was wrong.” Even the appearance of a motivated leader is crucial. So, what specific tips can I give to help with this self motivation? I have written about this subject before in these blogs, I think there are many different techniques from reading quotes and motivational stories to keeping it all in perspective. You are different than me in this regard. I have a unique ability to be just dumb enough to think that “this too will pass,” and act accordingly. Notice that I said ACT. You should develop your own triggers.

14. Detail vs. General. Successful entreprenuers know how to move from one skill or attitude to the other. I have seen people who seemed to know every detail about their business to those who can’t be bothered with the nits and gnats. If you think you have to know every detail to achieve success, you don’t. If you think you can get by only by operating at the 40,000 foot level, you can’t do that either. The trick, it seems to me, is an ability to wander back and forth. And to pick your spots. If you tend to be detail oriented to the extreme, be prepared to make every decision in this detailed area. I know someone who has to approve literally every transaction for pricing consistency. His team knows this and the unspoken message is that no one else can be trusted with knowing how important pricing can be in their business. He ends making every decision…his people have been trained to act this way. Alternatively, I know someone who is so removed from the day to day operations, that he doesn’t even attend company events, Christmas Parties, whatever. Both are successful. Both know the traits they have and have built organizations that have adapted to this reality. What they are, is consistent. In my own case, I don’t like meetings. I am pretty sure this is fairly well known about me. If, all of the sudden, I were to start calling meetings right and left, well people would wonder what happened to me. Or worse…they would ask themselves the most dreaded thing that can be said of an entrepreneur: “I wonder what book he just read to make him change his behavior so much.”

15. Story tellers needed. Ever since Adam told Eve the story about the apple and the serpent, we have paid attention to story tellers. We listen better and learn more when we hear stories. Develop this skill and win. There are certain duplicable skills in great story telling. Here is a short video that tells it better than I can. Click here.

16. Be an active good listener. OK, so you are in charge; soon you will begin to hear only those things that your people want you to hear. People are awfully smart about what the boss needs or wants to hear. Your job is to develop a bullshit meter, a sort of internal device that will keep you steady and assured. From time to time, it is alright to let others know that your BS detection ability is operating. If you don’t, the BS just keeps getting deeper and deeper. I had a boss once who, when he felt it was flowing fast and furious, would simply raise his arm and say, “everyone, save your watches…it’s going to get deep in here.” We all laughed but we knew he knew.

17. Don’t get all big headed. One of the character traits of most entrepreneurs is a well developed self assuredness. Never let this cockiness develop into a situation where you begin to believe your own press releases. I have seen this happen all too often. It has happened to me. In my own case, try as I can, I have noticed that when I have had a positive story written about a company and I generally get too much of the credit…I change somehow. My head gets a little bigger, I am not quite as hungry or something. My solution now is not to be involved in such PR efforts to the point where my picture is included. In my own case, there is a direct connection to my picture in an article and my bigheadedness. Now, some people love this and have milked this attention to the betterment of their business. I understand that.

18. Pioneers get the arrows in their back. I think it is far better to be second with a differentiated product than having to educate and build a market. Sure, both are possible. A early business hero of mine, [tag]Mike Vance[/tag], told me (and 300 others) that you can create something special by thinking up a new idea OR by re-arranging old things in new ways. [tag]Steve Jobs[/tag] didn’t invent MP-3 players, he made old ones better. Here at [tag]Jobdig[/tag], we are not the first [tag]free weekly newspaper[/tag], we are simply the best with our new ways of serving our customers and jobseekers. There is success in looking at old offerings and improving them.

19. Is work fun for you? Do you laugh a lot at work? Or, are you serious…after all, this is a serious, not a comical endeavor, after all. Part of the unspoken reason to starting up your own company is NOT to be your own boss. Truth be known, it is really so you can have more fun. If you can’t picture yourself having fun, don’t bother.

20. TIVO-Ability. As well we all know, [tag]TIVO[/tag] is that device, the first DVR television attachment, that has allowed us to record and fast forward through television programs. It helps us avoid commercials, and even the ambient noise in our favorite TV watching environment. You should have a similar ability to focus on the future…even to see what it might bring you. You will be required to help others TIVO their own work, so they can see how their work will eventually contribute to the overall success.

21. [tag]Delayed gratification is necessary[/tag]. Stretch your arms out to your sides. One hand is pulling on a rope and the other hand is holding the bell. Some people need the bell to ring at the same time as the rope is being pulled. Others don’t. Often, there is a significant time delay between pulling the rope and hearing the bell ring in a new company. This is true whether you are investing in sales people or a new product. It is surely true when you are thinking up your own exit from the business.

22. Sales in number one, two and three on the priority list. You should plan on spending most of your time worrying and working on your sales efforts. Nothing else much matters. A sale happens when someone pays you for your service or product. Don’t get too excited if the marketing focus group says everyone will buy one. Get excited when someone DOES buy it.

23. [tag]To sell many, sell one[/tag]. To build your company, you have to sell multiples. You can’t just sell one. Anyone can sell ONE. The trick is to sell a lot, right? Sure. But before you can sell many, you have to sell that one single customer so that he is excited and pleased to have your product or service. This is why when you talk to venture capital investors, they are obnoxiously insistent on waiting until someone buys something from your company. Everything else is classroom.

24. Family support, are they with you full on? Some family members love the idea of being associated with a successful entrepreneur. No one questions that. But some family members will not share your dedication and persistence, not to mention focus. The last thing you would need is someone back home who questions every move, every decision, every investment. This is not to say that your family members have to be all stupidly supportive. It is especially powerful if you get good advice, support and unwavering belief in YOU.

25. Do you know what scaleable means? This is a relatively new business topic for an old business process. What this means is that you should try to develop processes in the business that can be easily duplicated and replicated. It is one thing to sell your product to one person, quite another to figure out how this sale was made so that you can make the next sale more efficiently. Success often hinges on your ability to continue to do the correct things faster and better that result in some tangible success.

75 more ideas and recommendations for new entrepreneurs coming soon.

[tags]100 ideas and recommendations for new entrepreneurs[/tags]