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Entrepreneurship as a Timeline

LMRM

Contributor
Nov 2, 2018
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South Africa
Hello,

This is going to be another visual based article on how I perceive the entrepreneurship cycle/life time to be and how it goes in a main linear path with branching realities. Once again this is merely my opinion based on observation and is at no point fact nor definite.

Introduction

The path to becoming an entrepreneur, and a successful one at that, is no easy task. Being ambitious while not being too greedy, taking risks while not taking too many and over coming failure when success seems out of reach are all essential parts of being an entrepreneur. Now this graph I will present is the most logical and systematic approach to being an entrepreneur that I could think of. I hope it is of some use to anyone reading this.

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Slide1.JPG


P.S I am currently being bombarded with tests at University so I am mentally drained currently. If there are any thought process errors or other mistakes I apologize.

Thank you for reading.
 

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NC Bidniss

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You're looking at entrepreneurship wrong. The purpose of entrepreneurship, at its core, is to provide a good or service to the market. The good or service you provide must come from need. Making something up that sounds "neat" is not enough, you must identify whether it is something the market has a demand for. Desire to make a profit is a step of entrepreneurship, because that is a given. That is like saying "desire to have air to breathe". As an entrepreneur, you need to provide what the market demands, and you cannot magically create demand by simply coming up with a business model.

I think you're almost on the right track. Instead of focusing on making a profit, focus on creating something worthy of profit. It sounds the same, but the distinction of the latter is that you develop the product or service around the demands of the market, then figure out how you can make that thing profitable.
 

jpn

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The diagram is not a reflection of the reality of starting a business.

It shows a linear progression of steps. This is false. The process is infinitely iterative. Every step is a loop. And every loop connects to all the other loops. Your idea will evolve. And so will the plan. And the challenges in the plan will modify the idea. Etc.

And Depending on the business, figuring out if it’s a success or a failure can take years.

Reality is chaotic and trying to force a messy process into the straightjacket of a linear process is not going to be helpful. Nice for the academic students of entrepreneurship, but they’ve never made a dime in business.

If you’ve never started a business the best way forward is to pick an idea, any idea, and start working on it. No need to see more than a few weeks ahead because in the beginning the idea and plan will change all the time. Once you’re a few months in it, you’ll see what I mean by chaotic.

Ideas never survive first contact with the market.

Stop the mental masturbation of trying to think too much about entrepreneurship, entrepreneurship is like dancing, it’s something you need to do to learn it and become good at. Reading and writing about it is not something a lot of successful dancers do.
 
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LMRM

Contributor
Nov 2, 2018
22
21
21
South Africa
The diagram is not a reflection of the reality of starting a business.

It shows a linear progression of steps. This is false. The process is infinitely iterative. Every step is a loop. And every loop connects to all the other loops. Your idea will evolve. And so will the plan. And the challenges in the plan will modify the idea. Etc.

And Depending on the business, figuring out if it’s a success or a failure can take years.

Reality is chaotic and trying to force a messy process into the straightjacket of a linear process is not going to be helpful. Nice for the academic students of entrepreneurship, but they’ve never made a dime in business.

If you’ve never started a business the best way forward is to pick an idea, any idea, and start working on it. No need to see more than a few weeks ahead because in the beginning the idea and plan will change all the time. Once you’re a few months in it, you’ll see what I mean by chaotic.

Ideas never survive first contact with the market.

Stop the mental masturbation of trying to think too much about entrepreneurship, entrepreneurship is like dancing, it’s something you need to do to learn it and become good at. Reading and writing about it is not something a lot of successful dancers do.
So are you saying that entrepreneurship is born from an idea but survives on the evolution of both its plan and its creator?
 

Patrick Jones

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jpn

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So are you saying that entrepreneurship is born from an idea but survives on the evolution of both its plan and its creator?
I'm saying that an idea (or more accurately, the discovery of an under served need) is a spark that sets off a journey. This journey will lead you to make plans, meet people, and adjust plans and the original idea as much as is needed in order to get to a revenue generating business.

I second @Patrick Jones to check out Steve Blank if this theory interests you. But frankly, its very little use without going out. My personal complaint with Steve Blank's approach is that it is very heavy on process, and I think reality is more fluid than even described by Steve. Getting to plan B by Randy Komisar is also a pretty good discussion of the same reality.
 
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LMRM

Contributor
Nov 2, 2018
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South Africa
What's the point of this?
In general my posts are meant to present my ideas and opinions on many different business topics, have people view, criticize and give their own takes so that I may learn from their experience and thoughts. This is to correct information I know and to learn new information at the same time.
 

Xeon

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In general my posts are meant to present my ideas and opinions on many different business topics, have people view, criticize and give their own takes so that I may learn from their experience and thoughts. This is to correct information I know and to learn new information at the same time.
All these arrow diagrams, pie charts, dot graphs, thesis documents, flow charts, bar graphs, analytical documents, scientific venn diagrams, research papers......are only good for people who are passionate in getting a business degree or MBA.

Do you want to get a biz degree and work for that 39-year old entrepreneur, or become an entrepreneur yourself, or become a professor in college teaching others about these academic theories?
 
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LMRM

Contributor
Nov 2, 2018
22
21
21
South Africa
All these arrow diagrams, pie charts, dot graphs, thesis documents, flow charts, bar graphs, analytical documents, scientific venn diagrams, research papers......are only good for people who are passionate in getting a business degree or MBA.

Do you want to get a biz degree and work for that 39-year old entrepreneur, or become an entrepreneur yourself, or become a professor in college teaching others about these academic theories?
All the documentation and visual aids are meant to portray my ideas better to others in a more logical way so that criticism can be made easier. Of course, I wanna be an entrepreneur who's own ideas and ambitions lead to immense wealth, I want to be the owner of a business whose growth and value outshines all the competition, but I want to compensate for my inexperience by integrating the ideas and experiences of others to my own to minimize the risk of any venture I take while still being able to know how to adapt to any failures and setbacks well beforehand. Many entrepreneurs fail flat out and suffer massive consequences because they are so eager to make money without knowing exactly how and I know you have to take risks to succeed, and not all situations can be predicted so things will go wrong from time to time, but I'm not gonna take risks when I haven't prepared as much as I can. I know you can't make preparations forever and theorize constantly, you have to do things to get results and that's why I'm using these forums, so I can get to results as quickly and safely as I can.

"The only way to move forward is to take risks but if your gonna run in blind you'll eventually fall into a hole that you can never climb out of"

"What's blind to one is as clear as day to another"
 
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