Forget The Theory – Entrepreneurs Need to Be Practical

Be practical as an entrepreneur - www.authenticedge.co.ukWhat do you think? When you first make the leap and set up your own business you had to learn all about how business worked – didn’t you? Well, if you were a perfectionist type then I expect you did. Or maybe you are someone who has to get it right, and get everything lined up before you start? So you delay because everything isn’t quite right.

You don’t have business cards, and your website isn’t right, oh and you don’t have enough followers on Twitter yet……

Does any of this resonate?

Maybe, maybe not.

It won’t get you far…

But where does it get you if you think like that? Not far is the answer, in reality. You won’t get clients and earn money by sitting home playing with your website or perfecting your business cards. Do you even need them anyway?
At the end of the day to get going and make things happen you just have to get on with it.

Here’s the reality. There is only you, you can’t do everything. So forget what you “should” do and do what you can. Focus on the important stuff first. (And that includes knowing what the important stuff is!)

Wherever you go you will always see articles and book and websites telling you all the theory, and how you should set everything up so it is done properly and effectively.

But, being practical, as I’m sure you are being an entrepreneur, these are written for bigger businesses.

Do it your way

You have to do the best you can with what you have got, without killing yourself in the process. Knowing as I do how entrepreneurs are inclined to overwork, I believe this reminder is very important!

Whilst you need to know where you are going and have your targets and so on, you don’t need a formal business plan in the format you would for a bank. not unless you are taking out a loan anyway.

Do you think that Richard Branson had a formal business plan when he set up Virgin Records? Somehow I don’t think so. He may have had some kind of plan but I don’t think he spent thousands getting some accountant to do a fancy formal plan for him.

Work within your budget

It’s the same with all aspects of setting up and running your business. If you are on a budget, you have to work within it, which will influence the decisions you make.

As an individual you only have so much time so you have to prioritise and do what you need to do – which means what is right for you and your business, and your clients.

And because you will never have time to do it all you have to decide what won’t get done. And this is another way to get practical. Delegate the stuff that you don’t; have tie for. There will be stuff that is not urgent and needing your immediate attention, but needs doing. For many this is things like accounts, admin and maybe social media.

Get creative

And again if you’re on a budget how can you make it happen? You need to find a way that works. Obviously you can build your business and sell more to create cashflow to pay for it, but until then you need to be practical. Maybe you can swap or barter services. Be creative, channel those ideas to something useful as well as towards products and creative thinking.

Adapt to suit

There is plenty of theory out there about how to run your business, and it is based on certain assumptions that may or may not apply to you. The bottom line is the academic stuff is based on medium and large businesses, and they are very different to small business. In fact translating big business advice to a small business can be detrimental, because its not appropriate.

So whilst there is sense in it and definitely things you can learn and use for guidance, always be practical, do what suits your business and your resources. Filter out the good bits and adapt. You will know what works and what doesn’t .

Blog first published on www.authenticedge.co.uk