Let me guess, you want to be an
entrepreneur. You have had an amazing idea and have come online to find out how
to turn it into reality. The world would be a better place if only everyone
would use your product and the minute they all realize this, they will fall
over themselves to come and give you all their money.
Just hang on a second. Before you quit your
job and remortgage your home. You need a reality check. Ask yourself this
simple question:
How many people actually make it as
entrepreneurs?
I mean, sure we hear about the successes,
the ones which end up splashed all over the papers, but what about the losers?
Did you know that a third of all startups
fail within two years and two thirds fail within four years? These
statistics from the US Small Business Administration put it so neatly don’t
they? Just a few numbers on a spreadsheet. Why don’t they list how much money
these guys lose? Or the hours schlepping round trade fairs and angel investors,
trying to sell their idea? Or how about those precious hours spent away from
home which can even end in two people going their separate ways and families
tearing apart?
Being an entrepreneur is a way of life. You
can forget about the four hour week and holidays spent on a yacht in the
Bahamas. Those are just pipe dreams. That is what happens at the end.
Bringing a product to market is hard work.
But most people just see the end results. The flash suits and the celebrity
parties and think that practically anyone can have a go at it.
The truth is that most people are just not
a good fit and do not have what it takes.
Still reading?
So, what drives an entrepreneur?
What belief systems cause one man to get up and try again where another one
would lay down and just give up?
As Roy H Williams of the Monday Morning
Memo would say: See it, believe it, say it.
I am also personally of the opinion that
what drives an entrepreneur to succeed above all else is belief.
Self-belief, belief in the product and
belief that the public will accept this new product, this new reality, with
open arms and hand over their hard earned dollars with open wallets.
This is what drives people to succeed. This
is what makes them squash that inner nagging voice of doubt which tells them
that maybe they are no good after all. It is what refuses to let them listen to
everyone around them, from their mother to their milkman, who tell them
that they are wasting their time.
Because time is something that they will
have to spend. An entrepreneur spends, an average of 80 hours a week or more,
getting their idea off the ground.
Do you have 80 hours a week to spare? Not
so eager to start, or still rearing to go?
The key to successful business is not to
try to earn more money or have a bigger car or pay yourself a bigger bonus than
the other guy. The real key is to find out what makes you jump out of bed in
the morning. What makes you tick? What drives your passion?
And once you have the answer to this
question, then you are well on the way to beating those two-thirds of people
who fall by the wayside.
Entrepreneurs
need to have a burning desire within them to go through the kind of hardships
that they have to endure - the years of failure and the heartache when things
go wrong. It is how Caterina Fake, founder of Flickr, can sit with a
smile on her face
talking about the time when they only had enough money left to keep going for 3
months.
Others have
spoken about just having one day’s cash flow left but they still kept going,
hoping against hope that something would turn up. And you know what? The harder
you work the luckier you become.
As Daniel
Goleman tells us, it is the strength of character, the steeley determination of
personality which drives them more than any other kind of trait. And it is
emotional intelligence which forces them to even try in the first place.
Entrepreneurship
is not for everyone. All the pieces of the jigsaw have to come together to make
one whole successful picture. And if even one piece is missing then it can mean
that a project is doomed to failure.
Just having
an idea, no matter how great it is, may not necessarily be enough. Some
unbelievably misguided people really do think that they have an
earth-shattering discovery and they only have to mention it, they only have to
whisper their idea and people will either:
a) steal it.
b) adore it.
c) finance
it.
Poor fools.
The first check they expect is not the reality check that they get.
If you have
managed to read down this far then welcome! This series of articles is written
for the kind of entrepreneurs who are destined to succeed. Those who have their
feet firmly planted on the ground. The people who can see the mountain
in front of them and the spoon in their hands, and they do not hesitate for
even one second. They simply start digging. Heck, if that’s what its
going to take to get them to the other side, then that is what they are going
to do. And nothing is going to stop them or get in their way.
In the next
article, we will take a look at some of the most successful business startups
and examine why and how they have succeeded. What are the beliefs which drive
their founders to do well? Is it money? Is it philanthropy? Why do these
businesses rise to the surface when others around them have sunk without a
trace? And how do they keep going when times get rough?