The 80% Rule

My friends often come to me asking advice on how to start a company. Many of them have great ideas but they are having difficulty pulling the trigger on their venture. There are many details to finally having your business at 100% readiness which is why I invented the 80% rule.

You need to figure out what you absolutely need to start your company. For example, I have an office with a desk, fax machine, a couple of computers, etc. I don't NEED any of that. I have a couch and a laptop. That's all I NEED as far as office needs go.

I routinely tell my friends to learn from my mistakes and once they get 80% there... Hang up the Open sign. Nothing makes you take care of those last few details faster than knowing you are open for business and you better get moving. Also you may find that many of those things you don't even want. I JUST bought a Fax machine, a piece of equipment I was sure I needed. I only bought the machine because it was a dollar at an auction. I've used it a little, but I was just fine sending my one fax every few months from the corner store.

The trick to starting your own venture is to just start it. You'll figure out the details as you go, and sometimes you'll find a niche that isn't being served, that would have been impossible to occupy if you were at 100% from the start.

Shane Goodfellow
Squeak E Cleaners
www.SqueakECleaners.com
(519) 402-3401