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What advice would you give to someone starting a business? (lemdro.id)

submitted 7 months ago by governorkeagan@lemdro.id to c/asklemmy@lemmy.ml

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I’m thinking of the type of thing you wished you knew sooner. But if you have other advice, please share!

I’m a couple months (officially) into running a videography business and would love to use this post to share and help each other.

My Advice: I was into videography and doing it as a side hustle for almost a year but kept delaying registering myself as a business. If I could go back, I’d do that sooner.

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[–] j4k3@lemmy.world 15 points 7 months ago

Never run a business as a worker making ends meet. You're one recession away from failure. If you are not putting back a healthy margin to build a business, save for the unknown and opportunities, you're in a bad place that will likely bite you in the long run.

Do whatever it takes to put off hiring people as long as possible, and then push way way past that. Never hire people unless forced to take loads of money in exchange. Your efficiency will drop drastically and they'll be worth a tenth of yourself for half of your money.