Going out on your own: Pursuing the Passion 26, 27 & 28

November 15th, 2009

#26: Financial Buffer
Once you can, build up a three month buffer and keep it there, you never know what is around the corner, I know it’s tempting to invest that amount or use it for something, but the way I see it the return you get by having a three month buffer in case something goes wrong out performs the alternatives.

#27: Blog
Blog. Blogging is the #1 marketing tool. Use it to your advantage; like networking, blog with the intention of helping your customers, you don’t need to give everything away, but answer the common questions, share your experience, compare/contrast competitors, industry news. By helping your audience you build your brand, stimulate an otherwise non existent conversation and build a community.

#28: Avoid fixed costs
Avoid taking on fixed costs, keep everything variable, this helps avoid negative cashflows and ensures flexibility when you need to keep costs to a minimum.

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3 Responses to “Going out on your own: Pursuing the Passion 26, 27 & 28”

  1. Andrew Says:

    Hey Ben,

    I’m all for blogging & social media but what if your target audience (customer) are bigger type business? (Ie; aren’t going to have a twitter account)

  2. Jared Says:

    #28 is right on the money and is something in setting up wurld we were extremely mindful of, and still are! #27 is something we are going to start engaging in more, we’re still in startup mode and it is easy for social media to fall down the list of priorities.

  3. Ben Young Says:

    @Andrew Working with big business still involves having conversations right? But with who? You can gear your blog towards them.

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