The is the inaugural post of The First Year. If you are contemplating starting a business, or if you are already into that critical first year, this blog is for you. The first year of your business brings enormous development and change and, at the same time, calls for a tremendous amount of time and nurturing. It really parallels, in many ways, the first year of an infant´s life. It is fully dependent on you in order to thrive, and it will keep you awake nights!
Even if you may have a very clear vision of where you want your business to go, you face strategic decisions about how to get there. And if your business vision is not so clear, setting your direction is even more challenging.
This blog will discuss fundamental choices that face each and every new entrepreneur:
* Go solo or partner with others
* Follow the familiar path or try the unknown
* Strive for wealth or change the world (not necessarily mutually exclusive in the long run)
* Seek investors or boot-strap
* Plan to grow large or make a living
* Be home-based (and if so, for how long) or lease space
I will also help inform your decisions on subjects that concern all first-year entrepreneurs:
* Organizational structure
* Strategy and planning
* Marketing and sales
And I will weigh in on the lifestyle issues that subtly influence all your other decisions when launching a business:
* Work-life balance — Will I ever be able to take a vacation again?!
* Life on a shoe-string — How long am I willing to scrimp while the business takes root?
* The affect on your family — How much sacrifice can you expect of others?
* "When to say when" — What should trigger re-evaluation of my plan
Please come back often, and use Comments to let me know your perspective. Occasionally I will put out a call for topics. I want to know what is on your mind and what you need to hear more about.