I am starting personal development classes in Meerut, Uttar Pradesh in the month of March 2012. I went there yesterday to finalize the space where the classes will be held. And within four hours I learned 4 important lessons about my new business. If you too, are planning to start a business, then you can’t afford to miss this post, but, if you do, do it on your own risk.

Don’t Be an Ostrich

Many of us, when starting a new business, think that what we think is the only way. That’s not true. There’s my way, there’s your way, and then there’s the right way. And in order to find the right way, you need to talk to those people for whom you are starting your business.

Talk. Listen. Decide.

Encourage people to share their views and know what THEY think about your idea because ultimately they are the one who are going to pay for your product or service.

Keep All Options Open

The first place we went to (I along with two of my helpful students) was a commercial space, just where we needed it. And we thought it’s going to be the final one. But instead of making any hasty decision, we took our time and explored other locations as well. Guess what? We found a better place.

Don’t jump into something just because it looks good at first glance. Explore a little more.

Don’t Over Spend

I have a reasonable budget and could have afforded a little costlier space, but, I thought of getting the best deal possible and hence didn’t settle for the costliest one.

The expensive things are not always good.

The space we finalized is a decent one with reasonable rent. It’s important not to over spend (at least not when you are starting your business) because there are many hidden costs too, like water and electricity bill, maintenance cost, traveling expenses and many more that will present themselves to you once you start running your business.

Trust Everyone but Don’t Expect Everyone to Help You

I had high expectations from many students that they’ll help me find the right place and I will not even have to lift a finger. I was wrong. I am happy that I did not rely on everyone. Some students came forward and helped me. There’s nothing wrong with others, they might have some other priorities.

Trust all, but never expect everyone to help you out.