Originally Posted by Shap

I've been thinking about this lately. One tip I'd have for anybody starting their own business is to first really know how much you are willing to sacrifice for that business. That includes everything. Time, financial, emotional etc. When i started out I didn't have the financial means to do anything. I was a college kid with a few hundred dollars and my dad's computer. What I was willing to sacrifice was my personal time and social life. I was determined to make it big and was willing to give up as much as it took to get there. My goal when I started was to never have to work for anyone every again. So first and foremost you have to know how much you are willing to sacrifice and then be reasonable with your expectations in potential and speed of growth. If you have no money that is a limitation. If you have no time another limitation. Being reasonable and setting challenging yet attainable goals is important.

Write out your goals and business plan. I never did this but that doesn't make it right Once you have that you'll have your blueprint. It will force you to clearly identify what you are going to do, who your competition is, how you will be different, how you will disrupt your market space etc.

Don't just copy someone else. You have to have something that makes you better or more viable. You have to have some competitive advantage no matter how big or how small. If possible try to create something that is somewhat unique. You don't have to reinvent the wheel but having your own unique flavor goes a long way.