Get passionate about your business. But keep it real. What we mean by that is to combine the two. Most businesses from an apple orchard to providing Zumba classes began because of the passion of the founder for that idea. It’s that desire to use a specific a gift, or put passed down experience to work, that creates an enjoyable worklife, that finally supports the business owner, and provides jobs for others. That inner spark that nags you to start your business and keeps you excited is what we call passion. Remember that feeling, breathe it in, put up reminders in your office, in your car so you don’t forget it.
Hand in hand with passion is reality. It’s the proper balance of both that adds up to a successful business. Too many businesses fail, unfortunately, because the founder did not have a proper dose of each. It’s the passion that gets the business owner up each morning excited about the day, dreaming about possibly expanding, and improving their product or services. But, it’s the reality that ensures the business plan is in order, the right capital is in place, and contingency plans have been considered for those unexpected and unplanned life events. As that saying goes, “things happen” and “forewarned is forearmed.”
“Most businesses fail,” says STARTUP CONNECTION’s Bert Shlensky, “because entrepreneurs have overlooked details and analysis. Small, yet critical issues have been overlooked, such as competitive analysis, market plans and proper distribution.” Among some of the reality tips that Bert suggests for start up entrepreneurs include this article.
- Put your passion aside for a moment and do a reality check. Are you able to immerse yourself in your new business.
- Don’t be “married” to your idea. Be open to tweaks and suggestions to make your product all that more unique and attractive, and different from the competition.
- Get expert help in writing your business plan. Many times, entrepreneurs make rookie mistakes, incorrect assumptions, or paint a rosy picture for their business. A business plan gets “down and dirty” and lets you know what’s needed, and what’s at stake. It may be the most important action you take before signing the papers.
- The initial capital required is always more than you figure. Make sure you have the financial backup for the launch of your business.
- Continue to be a business-student. By admitting that you don’t know everything, and being open to suggestions and ideas from others, can take your business to the next level.
“Your passion will keep up the enthusiasm, energy, and persistence to take care of these reality tips,” says Shlensky.
Dr.Bert Shlensky is president of www.startupconnection.net . For more tips on balancing passion and reality in your startup business www.startupconnection.net.
