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Do U have What It Takes for Entrepreneurship


Author: Carlos G.
  Some people might think that entrepreneurship is not always linked to “awesomeness”. Those who support such premise might also believe that the majority of the businesses out there started out as a mere idea which having gone through the motions resulted in a marketable product. It was only during the starting of the business when they got the “aha moment” and they were able to position their business in a way that made them different from what was out there.


 There are certain scenarios in which the statement mentioned above might hold resemblance to the truth. However, it is my belief that a spark must be present in order to create that “chemistry”; an understanding among this small group of people that came together for a purpose: Awesomeness!
 I want to derail a little bit from the main idea and emphasis on the “small group” part. The group of the “founders” or “co-founders” has a magic number to it. It goes from individual to up to 3. Three is the limit and even then you have to be careful. Keep in mind that a bigger group can turn complicated: either too many heads wants to lead or there will be 1 or 2 of the members that will be doing pretty much nothing.
 Ok, coming back to the balance, the awesomeness. That balance is made with the concepts of: entrepreneurship – creativity – innovation.
That is why every entrepreneur has a desire not only to build their own business (be their own boss), but to some degree, has that need to share his/her vision with others that are part of the niche target. In order to do that then creativity and innovation play an important role. Let’s look at each concept by definition:
Entrepreneur: Can be defined as someone that organizes or operates a business taking financial risks (wikipedia reference). To put it in another way it is someone that tries to introduce new concepts, or improved ones, to turn them into economic goods.
Creativity: the art of creating something with some type of subjective value. (wikipedia reference)
Innovation: is the development of new values through solutions that meet new requirements or old customer and market needs in value adding new ways. (wikipedia reference)
 So, this is why a successful entrepreneur… successful founders of an idea/startup/business, most likely, will need to have these concepts as part of their formula for their vision to move in one direction, one north.
Ok, ok so the question: Do you have what it takes for entrepreneurship?
 Well do you? Do you have part of the “awesomeness”? Do you also have the “passion”?
You have to understand that money is not the motivation here. It’s the desire, the need of sharing your vision, your solution with others. The money will follow if the solution feeds the need of an X problem and that solution is well received by a considerable group of people (the niche).
 This is why I always found that you can learn so much about this (entrepreneur) from artists; those who share painting, sculpture, writing, photo, music, dancing with everyone, and at the end they receive feedback that they will use to improve their technique, to evolve and continue showing new and improved pieces of art.
 In that same order of things those who are trying to take their ideas to reality, turning them into a business, need to feel that they are building a piece of art. A product that will be exposed to and criticized by others; and evaluated by your competition.
These critics are very important because they convey if you are in the right path or if you have to go back to the “drawing board”.
Don’t get me wrong, something like Return of Investment (ROI) is important and if you are looking for investors then you better “bring it” with this one. Also your business plan document is crucial. Just bear in mind that documents such as these will be subject to constant revision, during the first phases of your startup. What was plan A might change to plan B or C by the time you are ready with a prototype. But that is a subject for another time…
The path for a startup/business, however you want to call it depending on your field, is not easy. If it was then everyone will just do it. It is important to first know what you want, know the people that may become your partners. Not everyone was born for the “art of entrepreneurship”. It takes time and sacrifice, even more than just being a follower or a part of an existing business; because it includes a lot of an item that we normally do not like: higher risk.
So we need to ask ourselves that so then we can focus our passion (we all have that) to the projects in our life that we can enjoy. If you are not going to be happy when you are in the way to achieve your goal then why do it?
If you do have the need to move forward with your idea, bringing the “awesomeness”, the passion, then you just need to work on your patience, perseverance and “choose wisely” when assembling your team and keep an eye to your network.
I have always liked a phrase from one of my favorite Latin songs, a phrase that I believe every entrepreneur should have in his/her head:
“Mejor perderse que nunca embarcar… mejor tentarse a dejar de intentar” (Better lost than ever embark on, better be tempted to stop trying) – Song: Color Esperanza from Diego Torres.
To finish up I put together 8 questions that can come handy if you are thinking about that great idea. I also encourage you to go to the reference section where you will find other articles related to this subject and with probably better list than mine:
1)    This idea, would I use it and why?
2) Is it functional, meaning do I think others will like it? Why?
3)    What makes this idea attractive and/or in some way different from others?
4)    What is the purpose for it:
a.    Innovation and investigation
b. Is it part of something bigger that you want to achieve or introduce to the market
c. Are you planning to sale the idea or actually based your business around it?
5) Are you really thinking of entering the “art of entrepreneurship” and understand the sacrifice around your time and the level of risks around your idea?
6) How much money is needed for this idea/startup/business?
7) How long can you go on with the idea without receiving profits?
8) Can I start alone or do I wish to start this with a team (co-founders)?
Note: questions 1, 2 and 3 can be re-use on a survey to the selected people that you are going to present/engage/pitch/ or ask to QA the idea.
References:

By: Carlos G.

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Agreed