What advice would you give to a friend starting their new business?

[maxpete]

Hey everyone! 

Hope that your week is off to a great start. 2024 brings a lot of new energy and with that I was thinking, if a friend of yours was launching their new business today, what is one piece of advice that you would share with them?

Excited to hear your advice!

[Moly_Capital]

People want to know the ‘person’ behind the brand - don’t be too corporate

Don’t kill your bottom line giving things for free to your family and friends - a discount is fine but if they want to support you they will

[maxpete]

@Moly_Capital personality is so important, thanks for touching upon that! Also, yes to not being too careless with how much you're giving away. Your friends and family should want to support you and see you grow. 

[JUYBoutique20]

So true.  I try to give my best friend a discount and she never takes it.  It shows me how much she respects what I'm doing.

[Lovewell]

@maxpete 
1. it’s going to be hard and tough things will happen out of your control. But you are strong and can get through them because you have an amazing team behind you.

2. Invest in your customers. Invest in the community. If you invest in them they will invest in you. 
3. Take care of your team. The team you have is a reflection of you and your business. Just think on that. 
4. people want to believe in dreams. Share yours and be authentic with who you are. Stay the course. 
5. Use Square in every way you can! 

[maxpete]

Love all of this! 

[Stacelyn24]

Of course we'll go through the typical things...but I always tell someone who wants to start off on their own...know your numbers!!!  Now your total cost for your expenses such as supplies, utilities, rent/lease, insurance, etc.  Go in and figure the numbers of how much you would like to make...what do you want to profit?  What are your personal or household expenses?  How do you intend to grow...what should you put up for taxes...take the time...get your number (figures).  Knowing these will help you make sound decisions and give you general direction on where you need to start or take your business to the next level.

And once you know your numbers...remember they change...so always be prepared to go over and perhaps redo 🙂

[maxpete]

Knowing your numbers is key!!