Many people had great ideas that never saw the light of day. Many today have same fantastic ideas and they are haunted by the fear of starting out because they have a wrong idea of what it takes to start.
In this post, we try to encourage you not to feel inadequate or threatened about the big names you see or hear of. They started small, if not even smaller or worse qualified than you are today.
What are some of the things to consider? Let's see if the following resonate with you.
BEFORE YOU START
Ask yourself what you are going into. What problem are you seeking to solve? Will people be willing to pay for it? If it's just a passion that is driving you, will that passion sustain the initiative? If it's just a gift or talent you have, would it not be great if you looked at the business angle of it? Make some plan, however inadequate. Put something on paper.
For example, if you are gifted with the talent to sing, you would need to skill such a gift by adding the skill of playing some musical instrument to it or something of that sort. You may need to learn musical notes. But, importantly, just start to sing.
RUN THE STARTUP FIRST
Before you go scampering with cap in hand, it's important for you to gain some experience by running the startup yourself. This should help you know the needs, experience the loopholes, spot and create opportunities; and constantly run and update the SWOT of the business. Keep your books intact. Tidy your papers. Venture Capitalists do need to see what you have been able to do for yourself before they can evaluate you worthy of investing in.
DO ALL THAT YOU CAN YOURSELF INITIALLY
When you start out, you may not need to incur debts from spending what you don't earn. You may not need an office space as a startup. Your home is just sufficient for you. In that process, you are the visionary, you are the accountant, you run every errand yourself.
Peter Drucker, the doyen of modern day management consulting and arguably the greatest mind of all time in the field, worked all his life serving the biggest firms across the globe, from his home. His corporate office was his home. Bridgewater Associates of Ray Dalio started in his home. Great things start small.
Be realistic and be prudent. Don't spend in anticipation of profit even before you start the business.
RENDER QUALITY SERVICE
You do not need many gigs or contracts to start with at once because you do not even have the capacity. Only seek to go through the process of growth. Your first gig or contract is just enough for you. With that one hook-up you have, you have a life long or long term opportunity to grow. Do that one job well. Be in the moment of it. Let every job be the best job, regardless of the pay out. That is your greatest marketing tool.
WHAT IS YOUR AQ?
Your AQ is your Attitude Quotient. However gifted or skilled you are, you do need to have the right attitude to relate with people and boost your interpersonal skills. It is your emotional quotient (EQ). Without a good EQ, you can't go too far, especially when you are not ready to learn and persist. You should know when to speak and when to be quiet. In any case, experience will teach you. Mistakes are not a taboo. They are your greatest and surest wisdom tools. Yet, some mistakes are costly. I have a fair share of them.
YOU DON'T NEED TO ROB THE BANK TO START
Many of us are afraid of setting out on the entrepreneurial or business journey. You don't have to break the bank to begin. You do need to have other kinds of currency though: resilience, clear and compelling vision, thirst to win, willingness to learn, and sincerity to yourself. These qualities should help you find what you seek.
While it's good to have some means of livelihood to make basic living sustainable as you pursue the big break, you do not need to feel miserable if you don't have it as you desire to. But you do need to have found yourself and keep building on that.
A startup is what it is--startup. You may have an audacious vision but there is nothing that says you can't start small. Regardless of what cliche it has become, "A journey of a thousand miles begins with a step." This stays true today like it was yesterday.
If you haven't already, click here to get your e-version of my book, ASCENTS AND DESCENTS.
