Starting a business from scratch is a daunting task no matter your level of experience. Whether it is a brand new idea or you are going to try and disrupt an existing marketplace you have your work cut out for you. There is an endless amount of advice out there on starting a business but sometimes it is the simplest advice that is the most beneficial. In the June issue of Success Magazine the article “Offering Hope and Hospitality” by Deborah L. Cohen there are some priceless nuggets of information. It is an interview with Harris Rosen, who founded Rosen Hotels & Resorts. While it is filled with great insight into running a successful business he makes two points about getting the business going that are fantastic.
When asked how he competes as a small company in an industry filled with giants he responded with “You just have to work harder than they do.” It may sound simple and obvious but in a time when so much attention is paid to business plans and social media it is easy to forget what really makes a business go. Starting, and running, a business is tough work, especially when you are the smallest fish in the pond. There is no replacement for hard work and if you are out working the competition then there is a good chance you will be able to take them on.
The second point is Rosen’s response when asked “Was it hard building your business from the ground up?” his response was “…I had to work 24/7 and do as many jobs as humanly possible.” He goes on to say “The money I saved by doing five or six or seven jobs was my cash flow.” He was willing to put in the time and do every job the business needed to make it work. He didn’t go out and hire five staff to do what he was able to do himself. He got out there and did it. Another benefit from this that I’m sure has paid dividends as he has grown is that he understands what everyone in his company is going through because he has done it. It is not just starting from the ground up but really working from the ground up so that you truly understand what it takes for the business to operate. Finally I want to mention the cash flow comment. By working his tail off and doing tasks himself he saved real dollars. If you are not afraid of hard work then you are in a great position to start a business from the ground up!