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It Is All Dependent on Hard Work. Hard work is absolutely necessary, but not sufficient, condition for starting and growing a business. The world is filled with over-worked, over-stressed, and not terribly successful small business people who struggle not because of lack of appropriate effort, but rather for lack of appropriate planning.
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If Your Product or Service is Compelling Enough, Customers Will Beat a Path to your Door. Remember: in a capitalistic marketplace there is NO distinction between value and perceived value.
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If Your Product or Service is Compelling Enough, Investors Will Beat a Path to your Door. N o matter how good and unique your business opportunity, there is always a strong, initial prejudice AGAINST investment that needs to be overcome.
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It Is All About You. The myth of the charismatic, "do and be everything" entrepreneur is just that -- a myth.
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The Government Is Your Friend. We are constantly astounded by the regulatory and paperwork maze that a startup company needs to negotiate and constantly monitor to both start and maintain a business.
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The Government Is Your Enemy. Having said the above, in the mixed economy in which we live, government revenue opportunities, on a local, state, federal, and international level, have never been greater for small business.
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It Is Only Worth Doing If You Become the Next Google. The vast majority of small businesses will always remain just that -- small businesses. The odds of starting a business and have it become the next Google or a publicly-traded company are very, very small.
While we would never discourage entrepreneurs for aiming for the stars, it is also important to have success metrics grounded in probability. An expectation of a minimum of 2 years of very, very hard work with little financial return but with a lot of learning (and some fun hopefully as well) involved is a good starting point.
From this first milestone, then and only then should there start to be an expectation of significant wealth-building. Find that balance between the long term vision and the Monday morning action plan -- and success, while not guaranteed, is very likely.
by J. Turo