What financial advice would you give to someone just starting out in their entrepreneur career that would change the game for them?
I am a young professional getting started in food/restaurant entrepreneurship. I am passionate about creating a brick and mortar eatery that draws the community to connect through affordable food, local events and an inviting space. I am interested in creating a longstanding brand and expanding.
I am new to Alignable and am looking forward to helping each other.
Please let me know what you think in the comments! Looking forward to having a conversation.
26 Comments
Comments (21-26)
Always speak with someone professional about how to manage your finances, taxes etc.
Read "Cashflow Quadrant" by Robert T. Kiyosaki
Want to beat the stock market? Invest in yourself. Good luck with your new business venture
Lot's of good advice from the group. As you can see, there is so much to learn. Find a good lawyer and a good fractional CFO so they can help you with structure and managing the money. Focus on the product. If the customers are happy, the business will grow. Try not to take on any debt. Be careful how you spend your money and if you need to hire people, take the time to get to know them. One bad hire can destroy a small business.
Self development Robert. Read all the books you can (over time). Yes, Cashflow Quadrant is a great book. There are a lot of resources out there but don't get buried in them. You have a plan and if I could go back, I would have had more focus on "doing" it rather than thinking it all had to be perfect. Yes, it is important to know your structure, market, funding, and have a mentor just don't get caught up in what I call "information constipation".
Customers drive your business. Refrain from initial expenses on buying stuff not necessarily needed to attrack customers. Your product quality and extreme friendliness of the staff are VIP. Think Chic-fil-a. Everyone is taught to appreciate the customer.