A New View of the Entrepreneurial Journey
Working with aspiring entrepreneurs, we have learned that at the beginning, many are looking for the easy way in. Meanwhile, those who have been in business for a while have made it clear: there is no easy way in.
It is a journey that begins when you start your entrepreneurial endeavor. The entrepreneurial mindset varies from one person to another, but in general, they all come from the idea of finding a problem in the community that they would like to solve, or finding an opportunity that they would like to create for their customers.
There is a reason we emphasize, throughout our training, that you might want to consider your passion rather than just finding a problem or a solution is this: You will find and face speed bumps as you start your journey. The more connected you are to the cause, the more you will find ways to make it work, and the longer you will stay on course.
Steve Blank, recognized for developing the Customer Development method that launched the Lean Startup movement, has stated that in a startup you are searching for a business model. You are searching for a way to make money. A business, on the other hand, is something that you already know will make money.
That being said, many of the entrepreneurs leave their business once they have a system in place. Generally speaking, that is five to seven years.
One of the insights we’ve gained is that many of them leave once they hire an HR manager or hit the 50 employee mark. We believe, based on our experience, that once there is a system in place the search for solutions or problems to be solved begins to wain.
The entrepreneur may no longer be the person employees go to for answers, because now there is a manager. The entrepreneur feels they are no longer needed, so they move on to another passion, opportunity, or problem to solve.
We hope you will share these insights with aspiring entrepreneurs. We hope you will tell them, Yes! There are ways you could learn how to do business, but first you should follow your passion and discover what could be a better way, what problem can you solve?
BEFORE YOU GO
We see our blogs as opportunities for dialogue. Please share your thoughts as comments.
What passion would you like to pursue?
Who can you connect with those within the industry so you can learn more?
How can you interrupt something happening today with your insights of what will happen tomorrow ?
Faris Alami is Founder and CEO of International Strategic Management, Inc. (ISM). He works internationally, presenting Exploring Entrepreneurship Workshops and other entrepreneurial ecosystem — related ventures.