Starting vital projects to move your business forward and executing ideas in good time depends on the idea that you must always be in the mode of starting things. This is because in waiting lies the death of many great ideas. The idea could be to start a new business or add a new line of product or service to your existing offerings. The more you wait for it to make complete sense, the less sense it will end up making. Then, you’ll find yourself trashing the idea for good. Leaving you with nothing to fall back on; no idea, no action.
It is this same idea of starting things in good time that prominent entrepreneurs use in launching their ground-breaking businesses; knowing that there is no perfect time to launch a new business or execute an idea for improving an existing one.
In a commencement address at Harvard University on May 25, 2017, Facebook CEO Mark Zuckerberg told graduating students that “ideas don’t come out fully formed. They only become clear as you work on them. You just have to get started.”
Ideas are all around the place. When you settle on one, you have to begin action at once.
Entrepreneurs go into business for the long haul; they don’t jump in at a point only to jump out at another. For them, business is a life-long career. They follow a time-line as they build their businesses: from when they start their first company to when they scale it to something bigger. At times, they change course, modifying their business or switching into a different line of business or industry.
Exit strategies, however, exist in the form of transition or succession plans for entrepreneurs to, according to Angel investor and blogger, Martin Zwilling, “optimize a good situation, rather than get out of a bad one.”
Like the case of Arrianna Huffington. In 2011, America On Line, AOL, acquired Huffington post, a company she co-founded and made her the president and editor-in-chief of the Huffington Post Media Group, comprising Huffington Post and other existing AOL media properties. Arianna Huffington held the position of President and editor-in-chief until 2016 when she stepped down to devote her time to Global Health, a new health and wellness information start-up. She currently sits on the board of directors of several companies and organizations. These companies include Uber: the ride hailing company; The Onex Corporation: a private equity investment firm and holding company; Berggruen Institute: an independent non-partisan think-tank; and the Centre for Public Integrity: An American non-profit investigative journalism organisation.
Arianna Huffington is a journalist and an entrepreneur; two titles that permeate the works she does till this day. She starts businesses, exit them, in order that she’ll pursue some other new or existing venture.
In other cases, much alike huffington’s, a serial entrepreneur starts a business. Later on, as the business becomes successful, the entrepreneur takes a merger with an existing company and continue to be part of running the business or sell out the business outright, moving on to start a new business; repeating the exact process or effecting a tweak thereto.
Oftentimes, the failure of a business or its success pushes an entrepreneur into realising that they’re more fit for a corporate job than they are for entrepreneurship, in which case they need to quit the pursuit and seek out a full-time paid employment elsewhere.
Everyone who quit at something is not always a failure; like quitting a bad habit, an entrepreneur quits the romanticized and hyped profession after the epiphany strikes him that he’s not endowed with the gifts and nature of leading other men, and that they do not have the other qualities needed for success in entrepreneurship.
That is so because anyone who can lead other men, can be an entrepreneur, since leading people is an indispensable part of what entrepreneurship entails.
Entrepreneurs are leaders based on the fact that on their own, without anyone asking them to, they identify work that needs to be done in their community or industry and they set out on the wings of their internal motivation to do such work.
Since we’re always evolving, we can’t identify from the onset whether entrepreneurship is our life’s true calling. For most of us, we don’t happen upon on our best career choices until we’ve laid our hands on different work; engaging with different work helps us ascertain the suitability of such work to our own skills and talents.
People quit entrepreneurship for two major reasons. Those who quit because they lack resilience and couldn’t continue in the face of temporary setbacks and defeats, and the ex-entrepreneurs who quit because they realised that a corporate job is the best means to the realisation of their dreams and potentials. We called them ex-entrepreneurs because even after recording an appreciable level of success, they still decide to either sell or discard their company in favour of paid employment. In any case, they wouldn’t know any of that if they hadn’t started.
Starting a business becomes the first step to success and the best way to uncover your suitability or lack thereof for entrepreneurship.
Please follow and like us: