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What advice would you give to someone starting a business? (lemdro.id)

submitted 5 months ago by [email protected] to c/[email protected]

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I’m thinking of the type of thing you wished you knew sooner. But if you have other advice, please share!

I’m a couple months (officially) into running a videography business and would love to use this post to share and help each other.

My Advice: I was into videography and doing it as a side hustle for almost a year but kept delaying registering myself as a business. If I could go back, I’d do that sooner.

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[–] [email protected] 41 points 5 months ago (1 children)

Get an accountant.

Keep your business bank account separate from your personal bank account.

80% of small businesses close within a couple of years. If that happens, try not to take it personally, it happens to most.

Sometimes, saying "no" to an opportunity is necessary to give you the chance to say "yes" to a better opportunity that comes later.

[–] [email protected] 4 points 5 months ago

That last part is tricky, after all there's also a saying "a bird in the hand is worth two in the bush", it's a balancing act.

For example most of my business comes from repeat business customers and it's definitely underpaid compared to what I can get in different niches, but on the other hand I get regular jobs from it. My colleagues focusing on the better paying niches are always hunting for the next gig and don't know where the money will come from next month.