5 Tips for New Entrepreneurs

culled from:enterpreneur.com

For those of you who have recently launched a new venture or are at the point of doing so, it’s natural that you would be experiencing moments where there seem to be more questions than answers.

Leah Busque surely felt the same when she launched her start up, the social network Task Rabbit.  Today, however, her online platform which lets people sub-contract tasks to their neighbors has become a successful and profitable business.  Based on her experience, Busque here shares her five pieces of advice for entrepreneurs taking their first steps. 


            1. Don’t worry about other people stealing your ideas

In the initial stages, this isn’t important. You have to talk with as many people as you can, looking for feedback about the project, and learning from all those who want to help contribute to the development of your idea. Don’t get upset about competition or be worried about giving too much information. Talk and consider other’s ideas.

2. Listen to clients

Especially at the beginning, don’t obsess over developing the most perfect service or product. It’s important to get it off the ground, and then to start adding new functionalities along the way, listening to feedback from the client in order to improve.

3.Take your idea as far as you can

I received this piece of advice from my mentor, Scott Griffith, CEO of Zipcar, and it is what pushed me to resign from IBM and build the first version of TaskRabbit. Being an entrepreneur isn’t easy; there are a lot of difficulties to be faced, obstacles and frustrations every day. The key is to not lose the desire to keep pushing your idea. There isn’t one path, it’s about constant work and forks in the road.

            4. Never let a good opportunity to meet people pass you by

When I participated in fbFund I regularly travelled from Boston to San Francisco. One Friday, returning home, I found out that the author of The 4-Hour Workweek, Tim Ferriss, was holding a conference on the following Monday. I truly believed he could give me some amazing advice, but I didn’t have the $750 for the plane ticket. All of a sudden I began to doubt, I thought maybe it wasn’t so necessary to see him in person, I could give him a call. However, in the back of my mind I had this sensation that I should spend the money, it would be worth it. So, I got on the plane and I was able to meet with him for 15 minutes, where I successfully convinced him to join TaskRabbit as an advisor. Through him I got into contact with my first investors. Without a doubt, the best $750 I’ve ever spent.

5. Don’t think too much

Start making things happen. When I was still in IBM I began to obsess over my TaskRabbit idea, and couldn’t stop thinking about how to do it, how to build the company. Finally came the moment that I realized it wasn’t about rock science, I was already ready to start the challenge. I think one should have confidence in themselves, to confront whatever comes your way. So get started now, don’t think about it too much.