Shelly Herman, Co –Founder, Irv and Shelly’s Fresh Picks
- Financial Prowess: It can be challenging once you use up your initial investment to continue to grow at a pace that you would like. Everyone wishes they had more money to do things a little faster, and to grow at a quicker pace. It is not insurmountable, keep trucking along and save money from your company’s cash flow to reinvest into your company to insure growth.
- Learn From Your Mistakes: No matter the industry you are in, remember that starting up any business is a learning experience, and mistakes will be made along the way. Accept that mistakes are made, learn from them, move on and do better.
- Market Saturation: It is very important to understand what has already been tried in your field of interest. You need to be very aware of what is going on in the marketplace, and if there is room for you to succeed. Many businesses have struggled or failed as a result of a crowded market.
- Keep Apprised of Business Trends: With big businesses branching out into smaller markets, such as Amazon selling fresh food in Seattle, you need to communicate how you are different from the big box companies. Think how you would survive if a big player suddenly popped into your market and plan accordingly.