Are You Too Focused Working ‘On the Business’ Instead of ‘In the Business?’

On The Entrepreneurial Mind, Dr. Jeff Cornwall writes that first-time entrepreneurs often make the mistake of obsessing over such things as mission statements, company logos, and business cards (time spent “working on the business”) instead of actually launching and running the business (“working in the business”).

Cornwall has 4 pieces of advice for entrepreneurs who are inclined to spend too much time prepping to launch a business instead of getting out there and selling their product or service.

While a well-designed business card is nice to have, it is you and your product or service that will convince the customer to spend their hard-earned money on what you have to offer them.
Your actual product will rarely look anything like what you may envision in a business plan. In fact, unless you are looking to raise a large amount of capital from outside investors or bankers, writing a formal business plan is not even necessary. Customers will provide feedback that should inform and shape the new business in its early growth. Real information from actual customers is much more important than guesses you might make in a formal business plan.

Read the rest of Cornwall’s tips here.

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