Friday, April 1, 2011

Entrepreneur and Business Ideas - Independence is the Key

Entrepreneurship has, by definition, never been an easy path for the novice. People at work tend to keep reflecting on the ultimate possibility of starting a business at some point in time, with all the intent to cut loose from the grind of employment. "Why be your boss' subordinate, when you can be your own boss?" "Starting your own business", indeed, an enticing thought that keeps pushing one toward the brink, before the practical realities of life drive some "sense" into the dreams, making people stick to the safer option that employment is.

Those who do make the decision to travel the rough, however, need to be clear about an undeniable reality - being one's own boss comes with a good deal of risk and responsibility. Business is commitment to the core, and exposes entrepreneurs directly to the firing line. And business is responsibility for one's decisions, processes and means. The key factor is absolute independence, which is an idea that might catch the new businessman unaware. Any degree of dependence on a professional body or government for advice, suggestions or provision of a safety net, is only bound to make matters worse when faced with the actual consequences of one's decisions. To quote Lord Sugar, "Do not expect to get any advice from the government about what products you should make, what ideas you should pursue, what services your business should provide or how you should market your products and generate income, because that is what you are supposed to do". Business ideas demand analysis based on facts, not just whims of fancies or a rush of adrenaline.

The daunting task is to get accustomed to the realisation that it's all for the entrepreneur to handle his or her own baby. Starting a business takes a lot of planning and foresight to make a quality judgement whether one is really prepared for the decision. If one could consider his personal situations, his professional experiences, the markets, consumers, the industry, competition, the state of the economy, and most importantly, the level of financial preparedness that one is in, the answer whether or not to take the ultimate decision to set out on an entrepreneurial venture would reveal itself, founded firmly on business ideas. And it takes an objective mind to make the ultimate call towards the road of entrepreneurship. Becoming a successful entrepreneur is much farther than it may seem. 

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