Know what you are getting into. It’s important to have an understanding of the hidden aspects of the business – the legal side and the accounting side, so make sure you get good advice.
You need to be prepared to ride through the highs and lows because no business is entirely clear sailing – you need to keep focused on the long term. When you hit a hurdle, it’s important to look at the options carefully and decide on the way forward – there’s generally a solution for any problem. Sometimes it takes you out of your comfort zone, but in the end that’s how the business grows and succeeds.
Also, it’s important to focus on communication – from the top down and the bottom up. All members of the team have a voice and that’s where the best parts of the business grow from. And the communication goes further than that: it’s important to maintain good and open communication with all of our customers.