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We started Intelligent Investing in May 2017. Since today is my birthday, I thought I would reflect over the past year or so as an entrepreneur and share some of the lessons I have learned so far in this entrepreneurial journey. I hope this may inspire some to start their own business. There is nothing quite like it.
- Implementing your vision is exhilarating. Be sure you have a vision first. I recommend the book Traction by Wickman.
- Be convinced in your own mind that you have the best product/service. Prospects smell a lack of confidence.
- Never settle. Always be thinking of ways to improve.
- Estimate first year expenses to be 15-20% higher than initial projections. Unexpected expenses will come up.
- Estimate admin time to be 25% more than you anticipate. Unexpected tasks will come up.
- Keep your pipeline full. It helps keep your mind off of the fear as you wait on prospects to become clients.
- Many people do not return phone calls or emails. People are busy with their lives and businesses. Don’t get frustrated when they don’t respond right away.
- Listen. Listen some more. Know your own wheelhouse, and hire experts outside of your wheelhouse for their input.
- Write a handwritten note. This is something my dad taught me, and this lost art may set you apart.
- Be thankful. You can’t complain and be grateful at the same time.
I am so blessed and honored to have a supporting family and friends who have encouraged me along the way. I also am thankful for our team that has been brought together for one passion: to minimize financial stress to maximize lives.