My guess is that if you have a business idea or are thinking of quitting your job and setting out on your own, you are hesitant. Of course you are; you are afraid it won’t work. Afraid you don’t have all the answers and need more time. It is only natural, and almost everyone has the same fears, but by following these 5 steps you can overcome the doubt that is holding you back and give yourself a competitive advantage.
1. Decide what you want to achieve
Look at the opportunities available in your unique circumstances. Think about the skills and resources you have and understand what you are really passionate about. You can then create a vision for your business and your future, but crucially, you must then commit to that decision.
2. Pick one thing and do that
Every journey starts with a step. That’s it. Only one step. Just like your first tentative dive off a diving board, your business venture doesn’t need to achieve gold medal perfection at the start, but that will come with time.
You may be afraid you are not ready; you don’t have all the information or you just need more time. I think that’s how most of us operate. We all hate the unknown and would rather not take any chances and let things carry on as they are. The thing is, since most people think that way, anyone who thinks differently and just tries begins with a distinct advantage. They create a head start for themselves and can be far down the road before anyone else even gives it a go.
3. Start now
Don’t hesitate. Now is the best time to start – not tomorrow or next week – so don’t procrastinate. It is tempting to want to have everything perfect before you launch into something new, but this is also a great excuse to never get started. Procrastinating in this way saves us from trying and failing. It protects our sensitive egos.
In the beginning, it is easy to make mistakes because they don’t cost much. Ultimately, in those early stages, it’s easy to shut down the whole thing and walk away if it doesn’t work. But the key is to start. Just start, and don’t worry if you don’t have all the answers.
Learning as you build is an invaluable process. If you find you’re wrong, you can make adjustments until you get the model right. Starting small means you are flexible, and there is little to lose. You can always start over again. Don’t overthink things.
4. Do it quickly
There is power in just cracking on and trying things to see what works and what doesn’t. It may feel counterintuitive, since we grow up believing we have to do things correctly. In school, our teachers graded our exams by marking whether we’d answered the questions correctly or not so our mindsets are focused on knowing all the answers before venturing out. The bottom line is that we are afraid to make mistakes, so we don’t get straight in there, push the boundaries and try.
5. If at first you don’t succeed…
Try and try again. If it doesn’t work or you make a mistake, try something new. Learn as you build. When you’re wrong, make adjustments until you get the model right.
Warren Berger, in his book A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas (2014), talks about an interesting experiment measuring a group of kindergarten children against a group of Harvard MBA students. The groups were divided and given spaghetti, string, tape, and a marshmallow and told to assemble the tallest structure they could in fifteen minutes. The outcome is probably no surprise. The grads spent too much time arguing about the project and who would be in charge. Meanwhile, the children jumped right in and worked, adapting quickly to successes and failures. As Berger describes, “the point of the marshmallow experiment was not to humble MBA students (if anything, that was a side benefit), but rather to better understand how to make progress when tasked with a difficult challenge in uncertain conditions.”
What we learn from this is the power of just cracking on and trying things quickly to see what works and what doesn’t. Every time you hit a roadblock, you try another way. But you keep on going.
I’m a seasoned start-up entrepreneur and property financier who built built businesses worth over $200 million. Since 1992, I helped start a bank credit department, founded a mortgage company, and built the largest single-branded real estate company across five countries in Central Europe. I also developed a portfolio of shopping centers and hypermarkets in Eastern Europe, constructing over two million square feet of retail space.
Today I am involved in the entrepreneur community, trying to share what I’ve learned and I serve as a mentor for startups.
I have authored a new business startup report called “How To Start A Business”. This shows you how to find, enter and profit immediately from a high demand market with virtually no competition… what I call a Blue-Sky Market!
This is how I could turn £400 into £50,000 in just 8 weeks.
Blue-Sky Markets are all around us. You just have to know where to look and have the courage to do things a little different.
To grab your free copy just click the link below: