Go It Alone

In: Business and Management

Submitted By krrichins
Words 586
Pages 3
Speech on Go It Alone

Many of us, including myself, have owned a business before and many of us have struggled to make ends meet in your current day job. Owning a business can be a fun and an exciting adventure and at the same time, if not done right it can be hard and scary. I recently read a book called “Go It Alone” by Bruce Judson, this book can make starting your own business a more pleasant and successful one. I am going to be telling you some of the key points of what I learned in hopes that you will not make some of the same mistakes I made when starting up my first business.
First of all the author, Bruce Judson, is one of the nation’s leading experts on entrepreneurship. He is on the Faculty at the Yale School of Management and has had several go it alone businesses over the years. In this book he goes through several principals that every entrepreneur should implement in starting their own business. I feel that if run your business with these principals in mind, you have a much better chance of hitting your goals and eventually becoming successful.
One of the main principals Judson pushes is the importance of keeping your day job. Entrepreneurs are at the heart, risk takers, and that is partially true. But as one top CEO explains, “they do everything they can to limit the costs and failure.” If we are actively managing risks "While they are still refining their business concept (1) they reduce risk by gaining as much experience as possible with paying customers, and (2) they avoid putting pressure on the business for fast financial success by keeping their day jobs." Judson also states “the best time to quit your day job, is when there isn’t enough time to sleep.” There is no point in putting extra stresses on your new company while it is just getting on its feet.
Another principal that is sound advice when starting a Go-it-Alone company is the power…...

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