10/28/2026
Big Time
"By failing to prepare, you are preparing to fail." Benjamin Franklin
Much is written about being successful once you've started a business - sales, funding, advertising, location, etc. But yet, one of the most important times in the start of the business is that moment BEFORE you start a business.
In my work, I've learned that the biggest challenge often originates from the owner's personal situation. If you are a business owner starting out or continuing on after the loss of a partner, please ask yourself these questions.
The Big Picture: Motivation and Financing
WHY?
Are you starting or continuing in business because it was your vision, or are you trying to carry on with someone else's dream? Some of the people that I have met that are struggling the most in their business started with a partner that is no longer there due to death, divorce, disability, or partnership dissolution. They keep trying, using a loan, consumer debt, legacy, severance, 401K or home sales proceeds to keep going, hoping things will get better, but they are not really sure of the destination. Grief also plays a huge part. If you are in this situation, PLEASE take the time to address the grief and make sure you have a solid business plan and a clear goal before you invest another dollar. Hope is not a strategy.
Are you thinking of starting a business because the job market is so challenging? You are not alone, but please make sure you've really exhausted the search for a W2 role. Several people I've coached have changed their job hunt approach and landed the direct role they needed. One used his experience to help others in their search. Another note on this: fractional is a potential path, but there are a lot of people exploring this approach and it takes the same level of commitment as starting any type of business.
Self-Support:
Do you have funds to live on while the business scales? In your first months or years, you will learn a lot and probably lose money. Can you still feed and house yourself? I have met too many wonderful people whose backs are against the wall because they started without this support in place. Hint: it will likely take longer than you think to build revenue, which is why the Shark Tank panel often advises even successful startups to "don't give up the day job yet."
Health
Are you keeping up with preventative health care? The constant stress of running a business can make it challenging to keep up with regular doctor visits, allowing chronic and serious health issues to sneak up without warning. I've had clients experience cancer, diabetes, serious infections and other critical issues, attributing their malaise to stress. Ignored dental health can cause irreversible damage. . Please care for yourself while you care for the business, and don't forget the medical insurance.
Working vehicle
Your car is the least of your worries, right? Yet it needs to be foremost in your thoughts. I had a client whose publicity was growing, and who almost missed an amazing radio interview opportunity because his worn-out car finally would not start. Yes, you can rideshare in a pinch (if you have the funds), but then you're scrambling to get a replacement. Please make sure your transportation gets as much (or more) attention and planning as your growth.
Building a business is challenging and your readiness forms the foundation.
Next week, I'll share additional startup considerations for a nonprofit.