18 Lessons from Starting a Small Business

Over the last six months of building Bergin Motion, I’ve learned some things. Things that aren’t talked about often especially in business school. Here are some of the things I’ve learned:

1. Money is like gas. Gas is needed to run a car, but the car still needs someone driving it for it to function. Gas is important but you decide on the direction of the car. The same applies to money and a business, money is only one minor factor in the direction of your business.
2. Everyone wants something in return, whether it’s time or money. Ask friends and family for help and often all they want in return is what is best for you. Just don’t forget to repay them because friends and family are more important than any business success.
3. Use people you know and trust to contract out services. Or ask someone you trust for their recommendation.
4. Businesses are about people, it’s all about the people. Don’t get lost in the numbers and spreadsheet, behind all the data and analysis are the people, it always comes back to people.
5. Be patient, it’s hard sometimes but it pays off.
6. Short-term savings often lead to long-term headaches. You get what you pay for.
7. The process is the fun part. It’s easy to look at the next hurdle and then the next. Take a step back and realize how far you’ve come.
8. Do it with people you enjoy. What’s the point in doing it with people you dislike?
9. Business school makes running a business seem confusing, it is not confusing. It’s simply about solving one problem at a time and moving to the next and then getting people to buy whatever you’re selling.
10. “Business” is not a skill. Have perseverance, it’s more important.
11. If you can do something, do it. If you can’t then pay someone to do it. If you do neither, nothing gets done. Choose one and don’t look back.
12. Being entitled to a bi-weekly paycheck is comfortable. Start a business and you’ll learn to stop expecting someone to give you a paycheck. Don’t underestimate how uncomfortable it is to work for months and not know when money will show up.
13. It’s a lot harder to pay yourself than you think. When money is needed in your business account and personal account it’s very hard to decide when money moves in between the two. Don’t underestimate the difficulty of this money transfer.
14. It’s easy to spend money, it’s a lot harder to make that money back.
15. It’s awesome your friends and family care about your business, making a stranger care is hard.
16. Businesses cost A LOT. There are hundreds of little costs that the customer doesn’t see. Trust small businesses when their prices are higher, that doesn’t mean that they’re making a profit. Shop local.
17. As a business owner you’re the “garbage man”, you clean up all the “garbage” no one else wants to touch just to make it look clean to everyone else. People glamorize entrepreneurs, it’s not a pretty job.
18. But in the end, working on your dreams is a lot easier than working on someone else’s.

No lesson is more important than the next. Would love to hear some feedback or any lessons you might have, throw them in the comments.

If you are interested in seeing the result of all these lessons, check out our Instagram or visit the website.