I took the plunge into running my own business fairly late in my life. That's not to say, however, that I only recently became interested in the subject. In fact, I have either invested or wasted a good amount of time and emotion envying other entrepreneurs. Perhaps, if you've been as tepid as I have, you may be more than a little amazed at the number of young twentysomethings who, usually while still in college or living out of a beach shack someplace, put together some kind of kiosk or something similar and made it work. Even more maddening has been that, at least from my perspective, it appeared as though they just up and did it - hardly a second thought about it. One night they are surviving on Ramen noodles, the next day features them on the cover of Inc. Magazine.
I am certainly not alone in asking "How did they do it?" I wonder, however, how many others ask "What let them do it?" What is the mental attitude which allowed them to jump into their new venture, when so many times in my life, I've been held back?
Of course, there are many factors influencing entrepreneurship. A lot of them are external. I friend of mine in the insurance business who almost launched a product which sounded too good to be true, at least to me. As of this writing, it's still on the drawing board. I hope it is not too political to say that the passage of the health care act gave my friend enough uncertainty that they wanted to wait a few years and observe the law's full implementation. Business experts alternatively call this either a changing political or changing business climate, neither of which is influenced by my friend's thinking. But what if I also told you that they had been thinking of this idea for a good ten years prior to the passing of the health care law? During the first seven or eight years of this, my friend's limitations were internal! They worried about what would happen if they would fail.
Here is a point I only understood as a theory until about a year ago. I respect it a lot more now because I have experienced it.
Once you have a good idea, of course it is good for you to test it. Get good counsel. Find whatever necessary financing you need. Minimize risks whenever you can. But once the season of planning is over, it is time to take massive action on it. Run into the fire, and run through it as quickly and completely as you can. Take record of your mistakes, make the necessary adjustments, and then run through the fire again. This one change has made almost the entire difference between the "tried to's" I have attempted in the past, and the success I have only begun to experience now.
I am certainly not alone in asking "How did they do it?" I wonder, however, how many others ask "What let them do it?" What is the mental attitude which allowed them to jump into their new venture, when so many times in my life, I've been held back?
Of course, there are many factors influencing entrepreneurship. A lot of them are external. I friend of mine in the insurance business who almost launched a product which sounded too good to be true, at least to me. As of this writing, it's still on the drawing board. I hope it is not too political to say that the passage of the health care act gave my friend enough uncertainty that they wanted to wait a few years and observe the law's full implementation. Business experts alternatively call this either a changing political or changing business climate, neither of which is influenced by my friend's thinking. But what if I also told you that they had been thinking of this idea for a good ten years prior to the passing of the health care law? During the first seven or eight years of this, my friend's limitations were internal! They worried about what would happen if they would fail.
Here is a point I only understood as a theory until about a year ago. I respect it a lot more now because I have experienced it.
Once you have a good idea, of course it is good for you to test it. Get good counsel. Find whatever necessary financing you need. Minimize risks whenever you can. But once the season of planning is over, it is time to take massive action on it. Run into the fire, and run through it as quickly and completely as you can. Take record of your mistakes, make the necessary adjustments, and then run through the fire again. This one change has made almost the entire difference between the "tried to's" I have attempted in the past, and the success I have only begun to experience now.
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