Email Reply to Top 10 Business Start-Up Mistakes

Posted with permission

Danny:

This is a great list, and coming off these past 90 days I see way too many violations of this list to be comfortable talking about them! Honestly, for most entrepreneurs I think that number one thing that you should do before launching any new business is try to talk yourself out of it!

That may sound very negative at first blush, but for those who have been self-employed or started their own company, they may readily agree with me. I think there are a great number of people who have wonderful business ideas—but that does not necessarily mean that they should start their own business. Many times (and I think more often than not) they should follow the strategies of Seth Godin and become a Linchpin in either their own organization or one that will support and promote Linchpin type personalities. This was the same practice that Napolean Hill encouraged in the venerable classic, Think And Grow Rich.

If one were to look at their great business idea and first try to vehemently talk themselves out of launching it as a new business, they will find themselves in one of four camps:

1. They Flirt: They toy with the idea of bringing a great idea to market and they exaggerate their success in their mind, never giving due diligence to the planning, developing and laboring—and they eventually fold.

2. They Fall Back: The risk of failure becomes too great and the individual retreats to more secure employment. These individuals are not likely to ever step out into a business venture and may even curse the brilliant ideas running through their head, seeing them as a distraction or a temptation.

3. They Flourish: They realize the merit and value of their idea, while simultaneously acknowledging their character is not designed to “carry the load” of a new business. These will seek to fortify and enrich the company they work for; They look for good soil in which to plant their ideas where it can be cultivated, nurtured and harvested.

4. They Follow Through: They realize that the pain of not turning their idea into their own business is far greater than staying where they are. After much searching, these individuals discover that they “must” give birth to their idea or “they die.” These are the ones who bring us FedEx, Microsoft, Apple, UNIX, McDonalds and the like.

While not every businessman who finds themselves in camp #4 will become a household name, it is certainly true that until you realize you’re at #4, there will be some obstacle lying in wait that will eventually succeed in taking you out. Those that find themselves at #4, find that owning a business for them is like water to a fish or like wind for a bird.

It has taken me many years and many failures to realize what I have known for a very long time: I am not in camp #4! However, I don’t think that list is necessarily progressive in nature—when you put numbers on a list, people suddenly decide they have to be the best or the biggest! I don’t think people go from #1 through #2 and #3 until they reach #4. I think these are just the places that we find ourselves in as we examine our career plans and work interests. Some people quite simply will never start their own business. I know way too many people like this and they literally get sick to their stomach at the thought of not having a “job.” While the exact opposite is true for those who find themselves in camp #4.

I think the key thing to realize is that great business ideas come to us all the time, but it doesn’t necessarily mean that we should strike out on our own. I think society puts way too much stock in “the next big thing.” From American Idol, to the Powerball Lottery, to Hollywood, we’re all hoping for our time to shine; our 15 minutes. If we realize that some of our great ideas are perfectly fit and designed for the place where we already work, then we may find that our rewards are even greater than striking it rich, putting up an IPO, or bigger bonuses. Doing what we’re called to do may prove to be the best reward yet!



Mike Grigsby

mwgrigs@gmail.com