Journey of a Serial Entrepreneur

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How to get from where you are to where you want to be

Do you think it will work?

“Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet one’s ideas, to take a calculated risk – and to act.” Andre Malraux

Ask any entrepreneur, brainstorming for the next big idea is constantly on their minds. Maybe we can’t help ourselves, many of us have the knack and ability to see opportunity in every direction we look. Not everyone has the ability to look at a picture of total chaos and make economic sense of it. This is a rare gift some of us have, and use to our benefit, to succeed in the business world. Lock yourself in a room with your team on the development of your business, and get ready for the ride of your life. It doesn’t make a difference if the startup is related to technology or agricultural farming, if the brainstorming is too drawn out you will experience a level of frustration to drive a sane person off the edge. 

However there is no getting away from it , discussions held during brainstorming phases are critical. They not only provide the opportunity for everyone in the team to voice their opinions and concerns, they also give you an insight into whether the team is on the same page. Unfortunately there is no plan which is completely fool proof. Even when you have unlimited resources, you still take a risk of not succeeding. Take Iridium as an example, billions of dollars, the most experienced resources on the planet, yet a truly abysmal result.

If you have been part of a startup for any time, chances are high that you are doing something very different from what you initially set out to do. This is a natural progression because we constantly adapt to feedback we receive to develop business models to correctly serve markets needs. We are in a constant state of flux and must be agile enough as a company to understand what aspects of the business are not performing and what needs to be changed. 

In conclusion, the frustration which is generated during initial brainstorming, can easily be averted by taking small shots at what you actually want to do. If you spend too much time calculating every conceivable outcome, you will suffer from an over-planning syndrome. I am not advocating that the next idea that pops into your mind be immediately executed. Take time to understand the dynamics, and keep moving forward, the minute you stand still, is when frustration takes over.

 

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2 Responses

  1. renee says:

    Absolutely! I can’t stress that enough to new entrepreneurs. My company hosts a great seminar that helps teach wanna-be entrepreneurs how to find their true passion, follow business trends, and start-up a company. The response is unbelievable; there are many ‘serial entrepreneurs’ and small business owners who don’t know when to slow down or stop.

  2. […] 1. Idea Generation: This process can be extremely frustrating for individuals or teams if dragged over a long period of time . This is an important stage and opportunity, to gather all those thoughts in your head, put them onto a piece of paper and make sense of them. This process requires continuous action, it cannot be limited to a conference room! To read more about the frustrations of idea generation please click here. […]

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