My Thoughts on Business

Having been able to experiment with a brick and mortar type of business for a year. Here are a few things that I learned.

• Dont let family get involved.
• Dont borrow money from friends and family especially if they are not really wanting to help you out when starting. 
• Dont borrow money from anybody. Bootstrap anything as much as you can.
• Realize that people dont really care if you succeed or not, they just want their money back. Even if they call themselves your friends.
• Work with people who believes in your vision of the future.
• Dont compete in an industry.
• Create new products and services where there are no competition
• Your business should have proprietary tech, network effect, economies of scale and brand.
• There is no such thing as stable business. There will always be a problem. If it becomes stable, it means your business is dying.