For Don Jones, a Connecticut-based entrepreneur, having a plan and tackling technology are two keys to success for any small business.
I found Jones’ brief interview with the Hartford Business Journal to be an interesting read, as is so often the case with entrepreneurs who have navigated the minefield that is striking out on your own. Jones, who serves as the CEO of Verite Capital Partners, LLC, has sound advice throughout the article, but I’m going to focus in on two of his…well, focuses. Give these two a read and don’t forget to look into franchise finance or working capital*, if that’s your bag.
Very few entrepreneurs fly by the seat of their khakis when they start a business, but not every one has thoroughly planned out what they want to do with their businsesses. Wise men like Chuck Blakeman will tell you that too much planning can paralyze your business and cripple you right out of the gate, and that’s sage advice.
But as Jones notes, you’ve got to have some kind of plan to make it in the world of business. Even if that’s nothing more than “I plan to love my business” and “I plan to make money by selling products that I know customers love,” you’ve got to invest the effort, research and passion necessary to know how you’re going to succeed.
Not every plan works out, but I’d hazard a guess that your success rate will be better if you’ve got a good one.
Taking On Tech
I’ll let Jones tell you how important this point is:
Bottom line is that if you are under 35 and want to succeed as an entrepreneur, you must embrace technology in a big way. You must speak at least two languages. You must understand what’s going on globally…
Fact is, technology is evolving on a daily basis. I grew up in the days of old-school, bulky computers and the Nintendo Entertainment System, but a mere 20 years later we have unbelievably powerful computers, social media platforms and a host of mobile devices to adjust to. Given how deeply involved with those technologies youths and adults alike are, any small business owner must learn how to use them and why people love them.
What are your thoughts on Jones and his advice? Let us know in the comments.
Photo credit to bruno-free at http://www.sxc.hu/photo/493668
*Working capital not available in the following states: AK, DE, ND, VT