Here we go. The tale of the tape, 3 different people, 3 different specialties but ultimately one goal: Start it! Make it viable! Scale it! behind most successful businesses there are three types of people. Which one are you? Lets take a look:
1st the Technician / Starter:This cat is the one with the technical capabilities to get the product or service to a level that brings value to the life of people. Those who fit under this category are people like doctors, artists, chefs, musicians or IT personas. They are great at the craft and normally would need help in every other aspect of the business. Truly, an essential part of the team.
2nd the Entrepreneur / Opportunity Spotter and Innovator:Slick, cool, calm and collected.. he has to be. Why? because when everyone else doubts, this person believes. He/she is uber flexible, a growth hacker of some sort and is usually unpredictable. While not many can figure the whats, why and whens of this person - miraculously they get $%!T done. What people don't usually see is the emotional fortitude mental work and creativity that comes with this type of persona. The entrepreneur is best with big ideas, innovation and developing new adjacent businesses for an existing one.Truly, an essential part of the team.
3rd is the Manager / Organizer.This dude is meticulous and organized. They dig the routine and the putting out of fires. This would bore the hell out of the first two but this person is also the one who drives a business to scale. While true managers are sometimes notorious for a lack of imagination their ability to be consistent and focused is vital to a business's growth.
So who is the best of the best? ......(drum roll)....... Mark Zuckerberg. LOLs, nah - you are all good. You, you and you. Oh and yes, even you too. Thats the good news.
Team work my friends. Team work. Good hold HONEST teamwork...that's the name of the game. The three of you should unite and not allow egos to rise up and destroy the harmony. Peace!
Either your an Entrepreneur or you aren't. the only way to know if it's in your DNA or not is to give it a try and see if you love it and if it works more often than not. I love it just as much as food, cooking and education.
Brian Tracy says that only about 1% of people have the ability to really take risks, real entrepreneurial risks. That's about 1.2 million Filipinos. The other 99% can work on or for a business once it's established. Only 1% have the ability to make those entrepreneurial breakthroughs that create 99% of those jobs.
I love this topic. It's how I got started. I was 21 and broke when i started my first business. I had failed in about 4 different business ideas in 3 years. My fourth idea was the one that worked. Today, that forth idea turned out to be one of the largest and most respected culinary institutions in the country ( www.globalacademyph.com) . I have since opened, closed and sold about 5 businesses since then. Lost some and made some and am at the point in my life when passive income is at it's strongest. Here is what i learned:
JUST GET STARTED - Just get started already. I'm not syang quit your job. Do it on the side. Start small, profit right away, do not scale too fast, instead focus on growing the profit. It is better to have a small business that makes more profit with less effort than to have a big business that gets you on the spotlight but earns so little.
DO NOT MIND THE NAY SAYERS - People will always doubt the entrepreneur. Naturally you are making something unique. Do not argue with them, listen to them, they also have wisdom to give. Take it with a grain of salt. Use the information you think leads to higher productivity, toss out the garbage.
REALIZE YOUR WORTH - So you don have money, that's cool, it forces you to be more creative. You can raise equity by being the proponent of business idea. You can raise it further by assuming and quantifying the risk on your time, current job / salary displacement and even reputation. You can defer a portion of an agreed salarty to buy you more shares. You can also pay back your shares through paying for them with dividends should you get any.
THERE IS ALWAYS FUNDING OUT THERE - Remember, ideas and people who try to make it work are WORTH something. People with money in the bank only earn 0.25% interest a year, bonds give about 3.5 - 5%. If investors are willing to take a risk and you return more than that, dude that's awesome. learn to chill.
DO NOT BE GREEDY - For heaven's sake don't try to own every business idea 100%, while it is ideal, you'll have a hard time doing anything without partners. Just make sure you get the right partners. Some can screw you over. Others can demotivate you by not being supportive. Get well intentioned people. This is an art in itself.
Goodluck! for questions, comments and suggestions you can reach me at firstname.lastname@example.org