You want to start a business? Or you want to replace a job? “If this doesn’t work, I’ll just get a job,” you say. Well guess what, starting a business is the hardest J.O.B. you will ever have. It requires commitment, blood, sweat and, yes, tears.
Starting a business is a lot like a movie, but the question is, are you in for a comedy or a horror story?
The Dark, Scary, Keep-you-on-the-edge-of-your-seat Movie
Do you hate your boss? Hate the business? You will soon be the boss and the only one to hate is yourself.
And just like a new baby, the new business will keep you awake 24/7. That thing you thought you were so good at? You may not even get to do it. You have payroll and taxes and supplies to buy and … hold your breath, you have to do some marketing! It all costs money that you don’t have.
“But I have a great idea ,” you say. Great ideas are a dime a dozen.
How do the people who make it succeed? Commitment and passion. They seek help where they need it, persevere because they have to and will do anything to make it happen because they know the world needs this latest greatest thing or gift.
Avoid the horror: Write a business plan. It helps you think of potential pitfalls and how to best budget your money. Done right, your business plan forces you to review everything at once (like your value proposition, your marketing assumptions, staffing and financial needs).
The Fairy Tale Movie
We all envision waking up happy on a sunny morning, anxious to see what exciting new adventures this new business has to offer.
What do I need to do first? I need a name for my new business, not to mention a location, too. Will I do my business in my home, my garage or do I need a place for it?
You’re excited because after all these years you finally get to share your gift with the world. You get to be your own boss, and even though you will work harder than you ever have in your entire life, you will feel fulfilled. People will be lining up to see what you have to offer and they will be excited to learn about your new thing that will make their life easier, happier or more beautiful. And you get to sell it to them. It’s a beautiful thing.
Don’t get stuck in dreamland: Entering entrepreneur-land can be a lonely place. You’ll have obligations and people will be looking to you for answers. It can all be overwhelming. Build a team of mentors or advisers where you can go for help and advice. You’ll have questions like, how do I find customers for my business? What if I need a loan, or can I even get a loan? Having an adviser can help you find those answers. Don’t try to go it alone.
The Reality Movie
It’s not scary and it’s not a fairy tale. It can happen; many successful businesses are launched every day. It will require really hard work and lots of patience. But the rewards and sense of accomplishment can make it all worth it. You’ll need energy, commitment and a willingness to seek help when you need it. And remember to take breaks when you need them. You will have earned them. A burned out entrepreneur is not the happy entrepreneur you envision.
Get a reality check: Many entrepreneurs before you have had the same questions. What did they all have in common? A willingness to learn what they don’t know and to ask for help. There are answers and help is out there. You just have to ask. The Denver Metro Small Business Development Center offers a number of ways for entrepreneurs to start, grow to sustain their business. Click here to learn more.
Wendy King is a marketing and sales consultant for the Denver Metro Small Business Development Center, which offers no-cost, confidential business consulting on a range of topics. Click here to meet the SBDC consultants or visit denversbdc.org for more information.