Think Big, Start Small, Be Smart!
It takes something a little bit special to transform an idea into what we know and recognise to be a successful, profitable and competitive business. But taking the plunge into entrepreneurship and running your own business can be both exhilarating and terrifying. And if you’re like me, you will have been living, breathing and dreaming about your business for what feels like a lifetime and fantasying about its potential in your head with every spare moment you have.
But despite all the anticipation and excitement, the reality of getting started and developing your idea into a business is often much tougher than you’d envisaged. All too often you find yourself doubting the durability of your idea and your ability to get it off the ground. On paper (and in your mind) it can’t possibly fail - can it?
So how do you overcome this initial stumbling block, where do you even start and if you have started, how do you maintain momentum?
Think Big! For an idea to work as a business model, it should contain several key ingredients (which will vary depending on the motivation behind your business idea):
Start Small! When starting out or even a year or so in, it’s very difficult not to get overly enthusiastic, jump in at the deep end and succumb to the urgency to do everything right now. But this chaotic, scatter-gun strategy is highly unsustainable, uses up far too much of energy (and resources) and can leave you feeling like you’ve lost control.
Regular planning and the prioritisation of all your business activities plays a crucial role in avoiding the sinking feeling many ‘start ups’ feel, even as far as a year or two in to their new venture, and done properly can and should result in a significantly more successful and long–term sustainable business.
There are several key questions to consider when starting and growing a business:
Be Smart! Do your research first before stating something new and learn from the mistakes of others! Try not to attempt more than you can achieve at any one time and be realistic about your goals.