For many people, being your own boss is a dream. But entrepreneurship has its challenges, including the beginning stages of getting your business off the ground.
Someone who knows those challenges all too well is Sophia Amoruso.
As the founder of online retail clothing giant Nasty Gal, Amoruso was featured in the 2016 issue of Forbes's Richest Self-Made Women, being richer than Beyonce. Sophia is also the author of the best-selling book “Girl Boss.”
In an episode of Erika Taught Me, Sophia walks through her entrepreneurship journey — including the rise and fall of Nasty Gal — and gives her three tips for starting a business.
Erika & Sophia Taught Me
- Start your business as ugly and as early as possible — you may be embarrassed in the future by the first thing you launch, but that’s okay.
- Be willing to change course and adapt as plans change. Don’t be attached to your original idea.
- Keep learning and look for holes that might spring loose and need patching.
. . .
1. Start as Ugly and Early as Possible
The first step to starting a business involves being a little vulnerable.
“Just start as ugly and early as possible,” says Sophia. “Don’t put the final product out there. You should be embarrassed by the first thing you put into the world.”
By allowing yourself to start “ugly,” you are pushing yourself into starting. Otherwise, you will waste unnecessary time (and get in your head) about something being 100% perfect in the beginning.
When time passes and you look back on your first launched product or service, you may be a bit embarrassed — but Sophia says that’s okay!
“Don't spend a bunch of time planning and navel-gazing,” she says. “Just get something out there. It doesn't have to be perfect.”
Then, gauge people’s reactions.
“See what people think. Talk to people, talk to users. Talk to your audience and survey people.“
READ MORE: How To Start a Business With No Money
2. Don’t Be Attached to Your Ideas
If you want to succeed, you need to be willing to adapt beyond your original vision or idea.
“Had I been attached to the stuff I sold on eBay that I liked, I wouldn't have created a brand,” says Sophia.
Consumer trends change, so push yourself to move with it. Separate yourself from the attachment you form in the beginning with your first products.
You also don’t have to personally have a taste for everything you’re selling, if it sells well.
“You know how much stuff on Nasty Gal I sold that I never wanted to wear, that I thought was like super-cringe? Plenty of it. Other people want it and that's what a business is, right?”
But you can and should stil add your own personal touch to things, beyond your original ideas.
“I put my own spin on it. And it was enough for me to feel like it's still an expression of me,” she says.
RELATED: How To Sell on Shopify
3. Always Keep Learning
By being willing to learn, you strengthen your brand and products. Learning also prepares you for future issues and shortcomings.
“You should always be looking for holes that are springing loose — you're going to be patching them,” says Sophia.
And even if everything seems like it’s going great, stay on target.
“Even when you don't see them, even when it seems like everything's going great, you have to keep your eye on the ball. Because when things are going great, there's still stuff lurking beneath the surface that's not going great,” Sophia warns.
“If you don't know what those things are, when the tide recedes you're gonna see all that murky stuff, and it's going to be a shock.”
There will always be new things to learn. Grow your knowledge of your industry, audience/target demographic, and the products and services you sell.
READ MORE: How To Start a Side Hustle
FAQs
What is the first thing to do when starting a business?
You want to first identify a problem and propose a solution — get an idea of what product or service you can provide.
After you have decided what your business will be, make a business plan and get your licensing/permits in order.
How can I start a successful business with no money?
Many businesses don’t require much upfront capital. Industries such as copywriting, graphic design, teaching, basic landscaping, moving services, and even opening your own Etsy shop can all be started for cheap.
You can also consider keeping your day job or primary source of income to help fund your startup until your business is profitable and stands on its own.
TL;DR: How To Start a Business
Being a business owner is a dream for many, but starting can be the most challenging part.
But Sophia has three smart tips: Start as ugly and early as possible, don’t be too attached to your ideas, and resolve to keep learning.
“Figure out how to build from the bottom up something really beautiful, so that as things fluctuate in your business, you know that you've built something strong and intentional under the hood.”
Listen to the full interview with Sophia for more tips on becoming an entrepreneur, or check out these other episodes of the Erika Taught Me podcast:
- $270,000,000 Worth of Business Advice from Noah Kagan
- How Barbara Corcoran Turned $1,000 into $66 Million
- The Road to Success: Kevin O'Leary's Lessons in Entrepreneurship
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