At one time or another, most of us feel as if we have a viable business idea. We may be complaining about the poor service we've received and see a way to improve upon it, or we may notice a gap in the market – whatever the inspiration, good ideas can come and go if we don't try to build on them.
Anyone who has actually started their own business will attest; there's a gulf between saying you want to launch a business and actually doing it. If starting our own companies was easy, we'd all do it – but it can be incredibly hard, and not everyone may succeed on their first try….Or their second, or third.
“I have been taking risks all my life, but one of my biggest risks was developing a product and quitting my safe job,” said David Dodgen, founder of Aqua Storage.
There’s no doubt about it, becoming an entrepreneur involves a considerable degree of risk. But it’s risk that pays off for those who are serious about making their dreams come true. There’s a clever term for people who stay perpetually stuck in the “dreamer” phase, without ever taking any action towards their entrepreneurship goals: WANTrepreneur.
Try these three simple steps to get out of your rut and go from wantrepreneur to entrepreneur.
Step 1: Define your WHY
Newsflash: Wanting to make more money is NOT enough reason on its own to start a business. Let's be honest: first time business owners usually aren’t rolling in the dough, or at least not right away. Additionally, as much as you may love money, it’s usually the things that money can buy you that will really drive you during the hard times.
You need to have a real reason, a passion, a series of goals you want to achieve: what are you going to bring to the market, to your industry, and to your customers that isn't already there? What’s going to make you get out of bed every morning and stay up all night long? Is it the promise of “freedom”? Is it setting an example for your children? Ask yourself WHY five times and only then will you arrive at the right answer.
Figure this out, and build your business around it. Write it down, live it, breath it and refer to it during the hard times. While there is a real learning curve to running a business, and mistakes are inevitable, you should never become complacent: establish your driving motivation, and aim to make the most of it.