A forewarning: I’m an entrepreneur running a successful business without any sort of business schooling. I majored in Industrial Design and Italian so you won’t find any fnacy MBA lingo here, just a straightforward real-world perspective.
Hold Your Horses
I was fortunate to have the time to let my business idea mature and evolve while I was still a student in college. I was able to explore various opportunities, research and survey the market, interview experts, and flesh out a pretty strong business plan before we were ever under pressure to turn a profit. In hindsight, this incubation period was crucial for the success we’ve had in the last three years. As soon as you launch your concept into a full-fledged business, you’ve got overhead to worry about and expenses pile up out of now where. The extra time gives you the chance to think through more scenarios, experiment with different models, and get everything in line to take your competition by surprise. Getting a startup off the ground is hard enough, and near impossible if you’re trying to figure out your model while providing and marketing your products and services. Spend as much time as possible in the nest to make sure your wings can carry you after you lunge into the wonderful abyss of entrepreneurship.
To read the original article: School of Hard Knocks: Getting a Real-World Business Degree
