It can be exciting to have an idea for a new business that you are passionate about. You may feel the urge to rush into launching right away. But I’m here to tell you that this would be a huge mistake. I’ve seen numerous entrepreneurs waste plenty of time and money making easily avoidable mistakes because they did not have the patience and discipline to properly prepare for starting an enterprise.
Success in business will not just simply materialize based only on your passion and excitement. You need to cultivate success like you would when planting a garden. This means you need to make sure that the soil is fertile enough to allow your success to grow. However, instead of fertile soil, in this case you need to have the right information and knowledge that is relevant to your business endeavors.
This might mean studying the logistics necessary to launch the particular type of business you are considering. Knowing how much startup financing you will need is essential and will help you gauge whether your business idea is feasible or perhaps you may have to alter it somewhat. The legal considerations of your business model are also important. Researching your competitors in your market will allow you to tailor your business to be able to stand out among the rest in your field. There may be labor costs to take into consideration. All of this information will allow you to create a strategic business plan that will guide you to success.
Just think of the greatest accomplishments of your own life. Most likely they were the result of comprehensive planning and hard work. Business works the same way. Success in your entrepreneurial venture will require plenty of hard work and constant planning. The more information you gather from your study and research the more likely your business will ultimately succeed.
On the other hand, it is not just about what you know or even who you know, you will also have to cultivate the characteristics within yourself that are necessary for you to be ready for business success. Running your business is not easy and will likely be one of the most challenging things you have ever attempted. Along with being mentally prepared with the necessary research and understanding of your business, you will need to be emotionally and perhaps even spiritually ready for success.
Basically, what I am saying is that the quality of your character is also essential in creating the fertile soil that allows you to blossom into a successful entrepreneur. John Wooden once said, “Talent will get you to the top, but it takes character to keep you there.” If you are not emotionally strong and are easily shaken by conflicts and challenges, you will have a hard time making logical decisions which can be highly detrimental to your business. Therefore, you will need to find a way to be at peace emotionally during times of struggle, whether that is exercise, therapy, or even spiritual practice.
Success is never an accident.
Joe Berardy
info@joeberardy.com
Ideas2Action Entrepreneurial Course
