So, you want to start your own business? I am truly excited for you.
I started my own business in 1978 because I was certain that I could build a better and cheaper stereo speaker than any that were available. However, all I knew about stereo speakers at the time was how I loved playing my speakers loudly while enjoying my favorite music. I knew nothing about the design details of stereo speakers. I had to learn some rudimentary details in a hurry.
Well, I blew through my retirement money (which I took out in cash from my “last” job) within 6 months – and discovered I knew nothing about how to price or market the few speakers I was able to build every week.
I was near broke and in serious financial trouble.