What Did Your Beginning Look Like?

[Conquest]

Yes. But, I start with the concept first. I start with checking out the market and how my business idea fits. I need to understand the nuts and bolts of what and where I'm going to be putting my heart and all of that work. That takes gathering a LOT of information and understanding. I talk to everyone. I try to find people doing what I want to do so I can ask them all of my questions. I ask what they would have done differently if they were to start the same business today. What are their strengths and weaknesses? I try to find the people who have failed so I can ask why. I read everything that I can about my target business and that industry.

These are my basic questions to answer:
Who am I going to serve?
Do they need new products?
Who is serving them now?
Are those sources doing a good job?
Does the market need a new source for products?

When I determine that the market is "deep" enough, I then must decide that I still want to jump in. After doing my research, does it still feel like a good idea? I examine how I feel in my gut. If the answer is yes, I can then start checking out what is going to take to make my idea work.

I know that most businesses that fail in the first 5 years, simply run out of operating money. The business owner cannot support himself and the new business during the start-up phase. Do I want to take the financial risks that come with a new startup? Do I want to work that hard? Do I still think I will create a profitable business? Will I still love it in 5 years? 10 years? What level of success do I need to achieve in order to feel it was all worth it?

And this is only a thumbnail version of how I vet a new business idea... Does it help you?

You ask, "Are you this meticulous in every part of your life?"

The answer is no longer. I created habits and ways of thinking a long time ago. I no longer must think through every move that I make in my daily life. Compared it to being a professional athlete. They practice every little move that they make in their chosen sport until those moves become a part of them. Business and healthy living are the same way. In time, those decisions and ways of thinking become part of who you are. Decisions become intuitive rather than deliberate. They are effortless.

I understand that I truly need to obsess over every detail before I fully commit. The plan needs to be impenetrable so there is no excuse or doubt on "can it work." That limits the only variable to how much effort I am putting in. Exactly the point I want to be.

I'm also grateful you showed me that vetting my idea should take weeks, if not months- rather than days. I'm confident you have helped me avoid several mistakes in this thread alone.

Thank you @WJK.

 

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[eramart]

The beginning looked like me being subservient, asking for permission, thinking I'd "get in trouble" for things, feeling shy, to list a few examples.

The beginning was necessary, but man do I look back and facepalm at a lot.

I am so struggling with this right now. What was your way of overcoming this?

 

[Itizn]

I am so struggling with this right now. What was your way of overcoming this?

In short:

Keep on pushing

 

[eramart]

In short:

Keep on pushing

Thought so ) If I took my own advice every time, I’d be way farther now. Will get there anyway, me thinks.

 

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[woken]

My beginning..

It was dark, then I saw a light which turned out to be the delivery room’s light at the hospital.

25 years later the story is still being written.



Remember to take a step back sometimes and enjoy the journey.

 

[WJK]

I understand that I truly need to obsess over every detail before I fully commit. The plan needs to be impenetrable so there is no excuse or doubt on "can it work." That limits the only variable to how much effort I am putting in. Exactly the point I want to be.

I'm also grateful you showed me that vetting my idea should take weeks, if not months- ratherI ne than days. I'm confident you have helped me avoid several mistakes in this thread alone.

Thank you @WJK.

When you do commit, give yourself a back door. Go so far and then look at it again. Sometimes when I'm doing something new, I end up pivoting. New opportunities that weren't apparent show up in the process.

I'm starting a new business this coming spring. I'm getting another state license as is required. Today I start the necessary classes. I never guessed that I would do this, but it's the natural next step in my side gig. It's a nitch I identified that no one is serving. It will take me almost a year of preparation before I actually start. I have already gathered a lot of community support for this new business. It's all falling nicely into place. I reserved my business name with my State a couple of days ago. I have enough time built into my plan to take care of any glitches. Since it's a side gig, I still must do my daily routine for my core business activities.

 

[SSTrey]

Having become aware of the Unscripted lifestyle, there is a responsibility to make a choice. MJ's books remove the veil of ignorance, so all decisions thereafter are active choices to remain in or leave the script.

While this is refreshing in that all the responsibility is on oneself, I feel that the beginning is messy.
I am constantly unsure if my idea is worth pursuing. Unsure if I have enough value to offer, is my offer redundant. Still blind as to how to spot new opportunities.

Entrepreneurship seems like training a sixth sense, learning to see the ethereal- opportunities that aren't apparent. I've been more mindful of what I consume, and how much I am consuming vs producing. As well as retraining my mindset, removing limiting beliefs around money.

These are good, but I've yet to find my footing. I feel lost. I'm hoping anyone can share what their beginning looked like. Am I lost because I am action-faking, or is this part of the journey?

For me, the beginning is most certainly messy. Each setback feels like a new beginning. I'm not going to lie, it's exhausting, frustrating & lonely.
My journey in a nutshell:
As kid - I always wanted to be rich (hearing my folks go on about money hurt me but gave me a chip on my shoulder)
I finished grade 12 & then got myself a degree in engineering. I then got a good job & so began my rat race. I soon discovered 'Rich Dad, Poor Dad' & then started my thinking & questioning of a lot of ideas in the direction of my childhood dream of wanting freedom (coz that's what rich means to me).
Unfortunately CENTS was unknown to me at the time, I only knew conventional business from what I saw around me.

Each action I took from then on was a step forwards but also wishing I had knew more sooner or younger.
Ive:
* done private tutoring (tried turning it into a business),
* resold furniture
* buying/renting apartments
* had 3 carwashes
* and now I co-founded a mobile tech platform which am currently talking to as many customers as poss to reiterate the concept & find a proper sustainable market for it.

The point here is this - going back I would never have even guessed I'd be able to do what I'm doing now. I'm very far from being successful but had I not tried, tested, got my hands dirty, failed, researched, been called weird by people, I'd never be where I am.
Things continue to be messy BUT I TOO cannot stay in a job - yes I do have a day job whilst I built my MVP, but I think of the escape daily, each minute of each day.

I have so much more to say ... I'm just glad I'm not alone.!

 

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[WJK]

The point here is this - going back I would never have even guessed I'd be able to do what I'm doing now.

I have gone places and done things that I never imagined when I was young. I am so grateful!