Standing Above the Crowd Chapter Summaries and Excerps - Chapter 14: - Advice For Would-Be Small Business Entrepreneurs

The first task when starting a business is to round up the resources that will help you fulfill your dream. Who’s going to be on your team? What resources will you need? What experience/skills do you lack that you’ll need to improve? Can you gain those skills by furthering your education? Will your team’s skills make up the difference in areas where you’re currently weak?

I’m the first to admit that when I began, I knew nothing about business. Therefore, I began by rounding up the team members who could compensate and excel in areas where I was lacking. A great shortcoming of many small business entrepreneurs is they think they can do it all, so they try to wear every hat. Running a business requires you to take a good look at what you can and cannot do on your own. Ask yourself, “Am I good at accounting? Do I understand legal documents and contracts? Who’s going to prepare my taxes?” The list goes on and on.

My team background came into play during this process. When I played on basketball teams, I played the position of center. I never pretended to be the point guard. Sure, once in a blue moon, I could throw the ball up there and hit from half court, but that wasn’t my job, and it wasn’t going to benefit my team and enhance our chances of winning. For NBA trivia buffs, if anyone asks you who played the most number of seasons and games without attempting a three-point shot, the answer is me! I knew my job, my strengths, and how to help my team. My job was to stay down in the trenches and battle for rebounds, play defense, and jam home a few offensive rebounds. When you start your business, know your strengths, know your weaknesses, know who you want to add to your team, and what role everyone is going to play.

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