Monday, October 18, 2010

Why this Forum is Different

Whenever I hear people give professional advice to would-be rural entrepreneurs, they usually advise two things:

- "This is how you set up your office, arrange a legal corporate structure, and hire an accountant."
- "You gotta have a business plan."

The Nauvoo Commuter disagrees with that advice. These are attempts to put the cart before the horse. 

You need to see if your business idea is viable before you bother with issues incidental to early success. And the way you learn if the idea is viable is to try. Our advice: minimize the time spent on prep, and instead spend that upfront effort on producing and selling. 

Few successful businesses stick to their original business plan. If you need bank money to start a shop, a model used for hundreds of years, then write the business plan. But what if you borrow the money, set up the shop, and then learn that no one wants to buy the kind of stuff you sell? 

Again, our advice: eat beans and rice until you can bootstrap the business yourself. If you succeed, the banks, lawyers, accountants, ergonomic chair salespeople, and inventory control software dealers will contact you.

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