Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with David Norris, Owner of Fourth Wave Consulting, located in Portland, OR, USA.

What's your business, and who are your customers?

Started in 2004, we are a boutique NetSuite and e-commerce consultancy. We work with SMBs to implement or customize NetSuite to better run their business. We build & optimize websites with a data-driven approach and help our customers navigate and leverage the vast landscape of features, bundles, and 3rd party add-ons.

Tell us about yourself

I never thought I'd be an entrepreneur until roughly the day I started my company. I thought I didn't have the temperament to deal with all the complexities of running a business, but I think many people felt that way at first. Once I worked with enough business owners and realized that they're all just doing the best they can with limited information, I realized I could do that fairly well too. I love being accountable only for results, not to the whims of a boss, and the entrepreneurial freedom & responsibility motivate me every day.

What's your biggest accomplishment as a business owner?

Building up a solid base of customers organically so the work demand is consistent without spending any money on advertising. We focus on doing what's best for our customers' long-term needs, even if that means recommending a solution that doesn't involve us. Our reputation is our most important asset, and our happy long-term customers are our best source of new business.

What's one of the hardest things that come with being a business owner?

The fear and uncertainty. It's a bit of a gut-wrenching drop to leave a W2 job with benefits and a 401k to suddenly be responsible for yourself and a fledgling business. Now every aspect of the business is your responsibility, even areas you don't have confidence in dealing with. For me, the accounting side is relatively weak, and I've been lucky to find great people to shore up that area. At the end of the day, every decision is up to you, and you'll need to make decisions without all the information or time you'd prefer. Learning mindfulness has been very helpful for me, allowing me to accept the constant uncertainty rather than hide from it or pretend. Focus on your weaknesses; we all have them. For example, If you shy away from analytics because it's unfamiliar, your growth will suffer from that blind spot.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. A business owner needs to make a bunch of good decisions quickly, and no one has enough expertise in all the important areas. Be honest with yourself about what you're good at, and delegate the rest. Invest enough time to build a great team around you.
  2. Self-deception is very dangerous. You have to be 100% honest with yourself about your strengths and weaknesses. Most people don't have the temperament to run a business, to deal with being pulled in lots of directions at the same time.
  3. No matter what your business does, accept that it's a technology company. How you use the Internet to find & deal with customers, vendors, employees, and associates is critical. Embrace the unknown and invest the time to try out new tools to connect you with the right people.

Is there anything else you'd like to share?

It's usually a good idea to bet on yourself, assuming you can be honest with yourself and have built up basic competence & time management. Many of the most successful entrepreneurs failed many times over, learning each time. Being forced to understand and manage all the important areas of a small business, you will learn a great deal. Even if you go back to a W2 job, that knowledge will make you more valuable.

Where can people find you and your business?

Website: https://www.fourthwc.com/
LinkedIn: https://www.linkedin.com/in/fourthwave/

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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