94 is a start-up journey blog series that captures Jamie’s first weeks at Amplify during the summer of 2018. The summer of 2018 was the soft launch of Amplify Advisors & the blog captures the weekly journaling of a co-founder. 94 has been released one year later as a reflection of how far Amplify has come in one short year.

 

Week Four

There is a sweet irony in building a small business while assisting other small business owners at the same time.

 

So much that I’ve learned over the last four weeks would be key to any start-up regardless of their industry.

 

Many times I’ve asked myself why there isn’t someone assisting with this type of work? Why must we re-invent the wheel? On that, with minimal research, I’ve concluded:

  • there likely is but I don’t have the $$$ to pay them so no point finding them
  • it certainly would be a business plan to solve a common problem but the target, as a true start-up, wouldn’t have $$$ to pay
  • a book or similar documentation is the most likely to be successful given its affordability – I’ve read 4HWW and it was helpful, the e-book I bought from a FB ad turned out worth the $5 and the webinar I did (also from a FB ad) really helped clarify things too. Scale Up and Good to Great are on the list next.

The learning curve has been so great I ask myself how I could have not known these things only a few weeks ago? And how can people in larger entities who have never been in this situation emphasize or understand an entrepreneur?

 

Maybe I’m a weak consultant? I felt the same about accountants (or MBAs) who consult with industry having never left public practice or Big C consulting. How do those Advisors, who have never been in finance or accounting emphasize or understand a CFO or Controller or Finance Leader? Some seem to be able to, but I’d never feel credible had I not walked in the shoes.

 

Here’s a ‘laundry list’ of things that take up brain space that were not actively on my radar only a few weeks ago:

  • inbound marketing
  • SEO (search engine optimization)
  • CTA (call to action)
  • CTR (click through rate)
  • OCR (optimal character recognition)
  • QuickBooks Online
  • Xero
  • all the related apps and the echo system of bookkeeping in general
  • Microsoft – ERPs and all their apps that most businesses have but I didn’t know about and certainly didn’t leverage
  • Chart of Accounts without #s (still can’t fathom why)
  • Apps, apps and more apps: from CRM, ATS, time trackers, contract signing
  • and so much more…

Starting up is harder than you expect and the learning curve is steep…. but that also adds to the excitement and fun!

 

HERE ARE THE LINKS TO ALL THE BLOGS IN THIS SERIES:

94: A start up journey

Week One: Surprise!

Week Two: Busy like I’ve never known!

Week Three: The Promises we make – spousal and business partner negotiations to offset cashflow risk

Week Four: Brainspace – an extreme indoctrination

Week Five: An Accountant for Accountants & an Entrepreneur for Entrepreneurs

Week Six: 1 + 1 = > 2 and we’ve “sold out”