Wannabe entrepreneurs, the many that I have met, show an alarming “quick to rich” ideology, as fast & slick as their business plan, potentially substituting “want it now” for actually making it?
Of course “quick” happens, I’d like it to happen to us, but for most lesser mortals (like us), it’s Murphy’s law, or to quote Black Adder, business progression can be “strewn with cowpats from the devil’s own satanic herd”, actually I work both these laws into all of our go/no go management protocols!
There are no short cuts, depressing as that sounds, we are not trying to impress our friends, the bank, investors, nor are we imagining the car you’ll drive (yachts & holiday homes have been mentioned) when “own boss” status is achieved, secondly, the speed at which this is going to happen is mind blowing , all of this sh*t comes when you have made it, if that floats your boat (or yacht).
None of us know when we’ll make money at the beginning, truly how the market/competition will react, what smelly manufacturing/supply issues we’ll step into and how deep the poop is (it pongs, but it’s warm at least, isn’t a consolation), all of this adds time to attaining success, I, like you, want my products out in the market in five days, but 18 months is the quickest, two years a reality, that’s for product design to launch, all money spent and no revenue, so how long after that before I can stack some profit cash?
This doesn’t mean you delay progress, but do two things:
Do your market homework-don’t hope you’ve found a gap in the market, lift a rock up and find out, at least you’ll know, I recall one invention I had, every time I checked the market, I closed one eye, I didn’t want to know either-but rip the plaster off, no surprises.
Optimism-you have to have optimism to establish a product or business, but it isn’t your friend (Murphy’s Law), an old business partner used to say to me, “it’ll take a lot longer to launch than we think and will be over budget”, he’s right.
These will Archive your business
Stalled business designs or ideas, vertical sales dead ends and financial projections based around optimism, will burn your available cash and finish your ass, allow 18 months for a complex launch and assume it will cost you a lot more, make sure you have another way to fund your success during this time if you need it and you’ll significantly increase your chances of making it.
This is not the endless diet of split second philosophical business “feel nice” statements that mascaraed as helpful, devoid of substance, that I see/read every day, because you gotta make it, if this is hard to hear, good I’m glad you read this far.