We live in an intense and ever-changing era. Markets have crashed. Jobs have disappeared. Industries have been disrupted and are being remade. But if you're an entrepreneur, to a large extent your destiny is in your own hands. And in the new economy you can achieve financial independence on your own terms. You have the power to be as successful, perhaps even wealthy, as you want to be. This is a key insight for any entrepreneur, and a driving force in life.
If you're a new startup or small business it can be difficult to see why you should invest in your brand and reputation. It's expensive and time-consuming. You're not trying to battle with the big brands - yet. But what about the future? You must keep your eye on that future because, ultimately, reputation is everything in business. Your brand is the shorthand way people think about you. If you don't pay attention to the details - customer service, how you are perceived by the outside world, how your company's image is perceived - you won't be successful.
We always teach our kids not to be afraid to fail and to pick themselves up and try again. They can't know all the answers before they start learning, and neither can you. So listen to your own advice. Don't be a perfectionist when beginning your adventure in entrepreneurship.
Later on, once you're established, indulge your perfectionism in your product and customer service. But in the beginning, it's cheaper and better to try, then try again and again until you get the product right. So iterate and repeat. Nailing your niche usually takes a few attempts.
Take a risk and just do it. And also love it. The word "passion" is sometimes overused in business, but when it comes to entrepreneurship, it's a necessity. You must be passionate about what you build because you will spend most of your time working. That's the reality of starting and owning a business. It's also the joy.
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