Make sure you know why you want to start a business so you don’t end up lost at sea…
Let’s think about this, a lifetime of responsibility and dealing with situations and roles outside of your comfort zone.
Why would you do this to yourself?
It comes down to the main components that drive you. Do you thrive on creating an empire? Giving people jobs? Being in control of your time? Or just enjoying the power trip?
What I have noticed over my business journey, which started at a young age, is that people generally start businesses for the wrong reasons.
They don’t have a clear understanding as to where they want to get to or why they want to get there.
With no objective or goal for your business you’re essentially on a rudderless boat without anyone raising the sail.
The problem that most people face when starting a business is that they do not know everything involved with running a business.
That’s fine, you can’t be expected to know everything straight away.
But when you combine this with not knowing where you’re going you’re in an incredibly vulnerable situation (but not destined to fail).
So how do you make yourself invulnerable?
Figure out what you want in your personal life, whether it be a situation, a figure in the bank or materialistic items. However you view it in your head is fine, but you must create this vision.
Once you’ve formed it, understand what size your business needs to be in order to give you the profits to be able to afford this lifestyle.
Then when you have what your business financially needs to perform you can create a strategy that will lead you to your desired end result in a realistic time frame.
Most importantly, create the action plan in an easy way that can be adjusted and monitored.
Take action and be disciplined in getting your ass into gear, and get things moving if the market and demand is there for your business idea.