Is Your Business Idea Suffering from Failure to Launch?
I am hugely interested in new business especially during a period of recession. I love hearing how a person takes an idea from the initial eureka moment, right through to a full blown successful business. I have been listening to and watching a lot if interviews lately of Entrepreneurs that started their businesses on nothing but a shoe string budget, but have gone on to tremendous commercial success in just a few short years.
All of these business people when asked what would be a single piece of advice they could offer to someone thinking of starting a new business, they all said that if you have a business idea just “Do it”. A large majority of these Entrepreneurs felt that some people with great business ideas can sometimes be plagued by a problem that they call “Failure to Launch!”
Well what is “Failure to Launch”? This is when you have a business idea, and you start to work out how you will start and grow the business. However, instead of writing your business plan and getting to work, you manage to over analyse and plan ever step to the point that you never really get started. You end up stuck in “Failure to Launch”!
If this sounds like something that you would do, don’t worry all is not lost. The main piece of advice that many entrepreneurs give is that you just Get Started! When it comes to business, they reckon that you can never plan for all eventualities and that you will learn many valuable lessons by just being in business. Another Tip many entrepreneurs share is to remain flexible in your approach to your business. By maintaining a flexible approach you will be more open to the different opportunities that often show up on your business journey.
From now on if you have a good business idea, do your research; determine if there is a market for your product or service. If the answer is yes, the next step is to write you business plan, this will really mean that you get to grips with the nuts and bolts of your business and have a clear plan of where you hope to be in one year, there years, five years. Once your plan is complete, don’t over analyse, get started, and give it your best shot! Win, lose or draw sometimes the best advice is Ready, Aim, Fire!
To your success,
Roma Catherine
PS; If any of you have overcome a difficult situation getting started in business and have any tips that you would like to share please feel free to comment below I would love to hear from you.
PPS; A super little resource is the www.themoneypillow.com. I have only come across this site lately but have subscribed to their podcasts. The host Sean Malarkey interviews a different entrepreneur every week and discovers how they started in business and how many of them have grown businesses that make them money while they sleep, hence the name The Money Pillow.