Monthly Archives: October 2013

Breaking Out

Hundreds of thousands of people start on their entrepreneurial journey with nothing more than a dream. What is their motivation? What is their fire? Are they willing to risk everything – their house, their credit, their personal possessions – in the pursuit of a dream of success? Many experts agree that it is usually a series of frustrations that lead to entrepreneurship. Entrepreneurs can’t stand taking orders from someone else, making them rich with their work-hours. It is also a fact that opportunities can come from an inadequacy in the market. Perhaps the entrepreneur saw a business in his or her area not providing adequate service, or that customers start calling them, or perhaps the entrepreneur doesn’t feel that his or her potential is being used to its best. Whatever the reason, entrepreneurs set out on a path that could broaden their horizon and enhance their potential. Risk is part of it, but it’s a wonderful if uncertain walk. That is the first step.

Begin at Dawn

The dawn is a beautiful event. While a few minutes before, the world was dark, now suddenly, rays of light emerge as the sun ‘rises’ over the horizon. Wait a few more minutes and it bathes the world in pure photonic wonder. And everything is revealed as the dawn comes, the beginning of the day. Many people start off in fear and worry if they have what it takes to be an entrepreneur – even before they ever get started. There are certain unknowns in starting a business. Will it work? Will it profit or tank? But if you have the desire and initiative, the details will emerge later as you navigate through the wonderful world of business-making. The first step is to take the plunge. When you decide to start, it is your dawn as an entrepeneur. How the day turns out is if you face it with enthusiasm and perseverance.

Change and Business Decision-Making

Sometimes entrepreneurs who have made one successful decision after the other let it get into their head. After a time, going in the same direction, they face a tsunami brought about by a changing market. Because they can’t change, and they keep doing the same things that have waded their businesses in the past, their businesses usually end in failure or bankruptcy. Entrepreneurs must listen to their customers, build what’s best for their company and their team. One way to avoid being overwhlmed by changing market situations is to broaden the feedback loop. Getting other advisers that give inputs to your decisions are one step. You could also gather your team and let loose an open meeting where everyone can ask the hard questions and suggest possible solutions. It’s through such mechanisms that businesses can avoid tanking over the next tide.