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Advice for the Entrepreneur: Lee’s Tip #216

28 Mar 2017 Lee's Tips,Seller Resources

Entrepreneurs, by definition, are risk takers. You’ve taken risks with your time and money. Maybe you quit your day job to become a full-time online seller. That was an important milestone. Or you decided to rent storage space for your inventory.

Each and every day in the life of an entrepreneur means more risk taking. If you aren’t taking risks, you won’t grow your business to its fullest potential. Everyday risk-taking is fairly benign for online sellers. You can test business theories like using auction format versus fixed price, or try to increase sales by bundling complementary items.

You should be testing your processes all the time to see what works. You don’t have to throw a bunch of money at this; you already have the items and the processes. Go take risks, and grow!

Advice for the Entrepreneur: Lee’s Tip #47

13 Aug 2013 Uncategorized

My mother told me, “Never hang around with people who make you feel bad about yourself.” This has proven to be prophetic in my business life as well. Naysayers usually come around whenever an entrepreneur has to take risks. Ironically, it is precisely those moments of risk that makes you an entrepreneur. “Should I buy that pallet of purses for $1500?” “Should I hire the kid next door to do my shipping after school?” And the really big question: “Should I quit my job to sell online full time?” (The negative Noras will come out of the woodwork on that one!) I don’t suggest you throw your family’s budget under the bus, but you do have to take some risks to grow a business. Listen to your friends, family and mentors… but in the end, the true entrepreneur is a risk taker. Just make sure you measure the amount of risk with which you’re comfortable. Then go for it!

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