There is a new “buzz” in the air – having a business that costs next to nothing to set up, working minimal hours to get the greatest rewards. The list of those wanting and even stepping into this strategy is on the rise and yet, many are coming up short – why?
All the experts of the world can share the greatest accolades and stories of how they achieved such heights, however, this itself will not path the way into guaranteed business success. 95% of start ups fail in the first year and it may be even up to 98%.
There is a saying “if you want it done properly then do it yourself” which seems to contradict the mentality of outsourcing and watching the business grow from the greens of the golf club. This saying holds more validity than one could expect when it comes to the success of a start up.
It is using the all too familiar principle “work smarter not harder”. With the growing entrepreneurs within Australia alone, it would be wise that during the course of market research and compiling the faithful business plan is to seriously look at the proposed model from a realistic, not idealistic, view point.
It is easy to compare this to someone else’s wheel which spins efficiently, however without the visibility of logical and commercial viability this model may turn out to be more of a square peg than a wheel, potentially dictating the demise of the business venture prior to the official first day of operating.
In western society/culture there is such an ingrained mentality of what could, should, would do that the freedom to think beyond this is deemed taking a risk or even dangerous to consider. Consequently many remain on the same career path for twenty, thirty or even up to fifty years never allowing themselves to consider alternatives.
It is the “I must work to provide for my family, pay the bills, the mortgage, the school fees”. There is nothing wrong with this mentality if this is what is wanted. It becomes a problem when this isn’t what is wanted and those that are loved tend to become the ones that wear the frustration and regret.
Is working a means to an end or is there more; can there be more?
A start up and being an entrepreneur is not for everyone and this is one hard fact that needs to be faced. There are such options as joint ventures to provide other opportunities. One of the most fundamental mistakes is the lack of honesty of one's capabilities including what they are prepared to undertake to get from A to B whilst maintaining professionalism, ethics and integrity. Reputation is everything in a start up.
So, is the business buzz simply a smoke cloud of promised millions only finger tips away or is there truly an avenue to be taken that will keep one from being part of the 98% that fail within the first 12 months? When it comes to business the only truth is the one in the mirror and when trusting in this, then the answer will be clear.
Subscribe to the Business Boss email newsletter and learn about running a small business. You will find lots of useful tips and articles which will not only save you time and money, but also your sanity.