Building a Business on Your Own Terms
When it comes to entrepreneurship, mistakes are an inevitable part of the journey. However, learning from others’ costly errors can help minimize our own and spare our wallets. We recently sat down with Anna, founder and CEO of Provenance Rentals, a boutique specialty rentals company and prop house in Los Angeles, California. With over five years of experience curating chic event spaces and sourcing unique rentals from around the world, Anna shared valuable insights on how to avoid common business mistakes.
Avoiding Financial Pitfalls
One of the most significant misconceptions in business is that you need to spend money to make money. According to Anna, this approach can lead to financial disaster. “I think that’s a really wrong way to look at the power of money and how to run your business,” she emphasized. Instead, Anna advocates for being selective with investments and keeping expenses lean, especially for startups with limited resources.
Embracing Solo Entrepreneurship
Another common mistake is waiting for a business partner to start a venture. Anna admits that she initially relied too heavily on a conflicting business partnership due to her own insecurities. However, she soon realized that being a solo entrepreneur allowed her to be self-reliant and make decisions without compromise. “It’s so hard to have a partner unless you’re always on the same exact page and have the same vision,” she noted.
Investing in a Quality Website
A professional website is essential for any business, but rushing to create one can be costly. Anna lucked out by finding a good host, but many entrepreneurs have paid the price for a bad website. She recommends investing in an affordable Squarespace site, which can serve as a trusted hub for your business in the long run. With its user-friendly features and customizable designs, Squarespace allows businesses to create a unique online presence that showcases their brand.
Taking Control of Your Business
In the end, no two businesses are the same, and what works for one entrepreneur may not work for another. While it’s essential to take good advice, knowing yourself well enough to make your own choices is crucial. As the executive decision-maker of your life and business, it’s up to you to choose wisely. If you’re ready to start building your own website, head to Squarespace for a free trial and use our offer code to save 10% off your first purchase.
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