There was some unspoken dialog behind my first post -- those of you that know me may have guessed. What I had in mind, but couldn't say at that point, was that after many years of practice with my former firm I was taking my practice elsewhere -- establishing The Law Office of John M.G. Murphy, LLC. While my practice is not exactly a "start-up," I learned quite a few things that I believe apply directly to start up businesses. I hope these thoughts are helpful -- my authority is impeccable.
1. Planning is a very good thing. There comes a point, though, when you can't advance the ball any further through planning, and have to act. Some questions will remain unanswered, such as the precise source and amount of the business you expect. If you won't move until you answer
all the questions, if you try to take
all the risk out of the venture, you will never shove off. Business unavoidably entails some degree of risk. If it had no risk, everybody would be doing it.
2. In a service business, relationships are
far more important than any other kind of marketing. Do all you can to develop and maintain relationships with your customer/client base well
before you need them. Do a good job -- be responsive -- take an interest in their personal circumstances even if you feel like you don't have the time. These things are good in themselves, but you will also find that none of this will be wasted.
3. The things you worry about before launching a new business are rarely as hard as you think they are. The truth in the business startup context seems very close to what I tell my clients in another context (testifying in court or at deposition) -- a little bit of fear, better called caution, is not necessarily a bad thing. It keeps us sharp. But, if you are so consumed with worry and fear that you can't think of anything else, you will be like a deer in the headlights, and never move. Once you have made reasonable plans and preparations, it is time to begin.
See Matthew 6:25-27.
4. Never, never, never burn your bridges. You will need the relationships you made in your last circumstance in your next. There is nothing to be gained by pettiness.
5. Get the help you need. A client of mine that is a very successful entrepreneur once said to me, "John, you've heard that 90 percent of new businesses fail. But do you know why they fail? In most cases, the owner tries to do everything himself, and he burns out!" There is a lot of truth in that. As soon as you can afford it, hire help.
See Exodus 18:17-23.
6. Do the right thing, even if it hurts. My brother told me a variation of this one years ago, and I remembered it. I can't think of a rule of more universal application.
See Psalm 15-3-5. 7. We need to make money, but there are things much more important than simply making money. Focus on them, and the rest will come.
See Proverbs 11:16 (isn't that deep? -- "a ruthless man gains
only wealth -- how much
is he missing?"
). See also Matthew 6:33.
8. Relax and enjoy the ride. If your head and heart are in the right place, ultimately you are going to be OK.
See Psalm 27:35.
9. Life is a great adventure. I am not sure that we are made to
simply be safe.
See Matthew 25-14-30. Often, inertia may represent a somewhat understandable avoidance of fears that themselves are unreasonable and not well grounded. More and more I think that we are called upon to make the absolute best of what is given to each of us. Time is short, so get started.
