Some considerations for first-time entrepreneurs:

1. Your business is (an expensive, needy) baby. No matter how you think of it now, you’ll need more money than you originally set out to spend. The first person to feel the burn? You, of course. You’ll be asking yourself, “do I really need that morning latte?” If you love the business, you’ll be happy to make this transition. Starting a successful venture requires the same frame of mind as starting a family: Are you ready to set your short-term luxuries aside to invest in something you create? If you are, go for it. 100%. If not, reconsider (and that’s ok!)





2. The analysis paralysis will kill it. If you have a great idea, put together a plan, keeping in the back of your mind that it’s not perfect. The plan, and therefore the business, is in its infancy – and will most likely morph as it evolves. Every good product manager knows that a sprinkle of scope creep can easily derail a timely, essential launch. Don’t let perfectionism creep up on you.





3. Can you see yourself as (an excited) consumer of your business? If not, reconsider. If you don’t believe in your business, how will you convince potential investors to? Even if that donning the proverbial hat of an advertiser, for instance, you need to feel that motivation. If it’s not there, go back to that drawing board.





4. You’ll need to be your own salesperson. You can’t be afraid to ask for money. Or for introductions or meetings -- sometimes from your friends.





5. Chances are you have competition. Assume others might already be thinking along the same lines. Hey, we’re all reading the same blogs and having similar conversations. That’s not to say you don’t have an amazing value add. Focus on how you can be (highly) competitive in the space you’re in. Realistically.





6. Vacuums suck. You can’t work in one, and you can’t live in one. Chances are you won’t be able to go out every night of the week (see #1), but you’ll need to make an effort to stay connected to your friends, family, colleagues, etc. – not only for your own mental health, but for the health of your budding business. Do what you’d do if you were a new mom or a new anything. Join groups/communities of entrepreneurs. Share tips with others (have a blog?). Surface yourself (even if you’re still in stealth mode) and get some air once every while.

Good luck, ladies!