How Entrepreneurs Turn Big Ideas into Small Business Opportunities
Most of us take risks every day. Anyone who drives a car takes a risk. Although not dangerous, some consider it risky to ask someone out on a date. Most of us don’t think about the numerous risks we take from sunrise to bedtime. We take risks because the benefits normally outweigh any potential negative consequences such as suffering a car accident or feeling rejected.
You may find this interesting. When retired people are surveyed, many say they should have taken more risks and lived a little more “on the edge.” Many wish they would have followed their dreams. Good news! Even if you are retired, you can still live out your entrepreneurial dreams. There are no age requirements for thinking big ideas and becoming an entrepreneur and your own boss.
Who are your heroes? My heroes are single mothers, teachers and American entrepreneurs. My wife and I have four children, and I appreciate what single mothers and teachers do for young people. Since this is a small business resource, let’s discuss the great American risk taker—the entrepreneur.
My work involves helping entrepreneurs succeed, and I am often asked to share my insights. If you come to me and ask, “I have a great idea for a business. What should I do?” Here is what I will tell you:
- First of all, do it. Just absolutely do it! You have one life in which to live out your passion. You are given certain talents and gifts to complement that passion. When you lead a small business, you also seize the opportunity to change the American landscape, to make life better for yourself, your family and others. Small businesses employ over 90 percent of the American workforce. This percentage represents a huge number of Americans. So go pursue it.
- Don’t fear failure or allow failure to stop you. Failure is under-rated. If you delve into business-success stories, you learn that failures often lead to success. It is the nature of the beast. So successful people know how to pick themselves up and learn from their mistakes. They look back and say, “I’m glad that happened because I learned from it.” Take for example, Sir James Dyson, an English industrial designer with an estimated worth of £1.1 billion. He states that his products are the results of a series of purposeful failures. Dyson’s Web site provides details about his innovations and struggles that almost bankrupted him. As he said, “Enjoy failure and learn from it. You can never learn from success.” Most experts believe that people today have to “fail fast,” meaning there isn’t much time to respond. We have to rebound very quickly and move on fast.
- Stay mentally sharp with positive energy and positive expectations. You know your areas of strength. Take inventory of those strengths and use them to build steam. A justified level of confidence, combined with strong passion, will help propel and sustain you during the normal ups and downs.
- Have back-up plans. You also have to positively prepare yourself for negative results. In the event a deal fails, make sure you are prepared to move forward with something else in place. Preparedness and strategic planning in the business world are like footwork and agility on the tennis court. You give it your best shot, and you’re always preparing for the return volley—right back at you. If you miss a shot, you don’t drop the racket and walk off the court. In business and in the game of tennis, you are always prepared to meet the next volley or opportunity.
- Ask for help and build strong relationships. Many risk-taker types are bold and self-reliant individuals. It is fun and exciting to be your own boss, but that doesn’t mean you have to go it alone. Strong people also ask for help and support. Most people admire a startup-business owner and their courage. They want to help by mentoring, giving advice and sharing their professional expertise.
- Familiarize yourself with business resources. Learn all that you can from other experienced entrepreneurs and business experts. You can learn from other people’s ideas, experiences and networks. The Internet has vast amounts of online information and various organizations exist to support small businesses, such as the U.S. Chamber of Commerce. Local community colleges, universities and libraries are also valuable resources. The American Library Association has an award winning Web site especially created for small business and entrepreneurs.
If you have a big idea and you believe it can turn into a small business opportunity, plan it out and absolutely do it. Then join the other small-business entrepreneurs who employ over 90 percent of the American workforce.
Additional Resource:
America’s Small Business Development Center Network
Created by: Steve Arizpe
Last Modified On: 8/4/2008 10:53:25 AM
How Entrepreneurs Turn Big Ideas into Small Business Opportunities
Most of us take risks every day. Anyone who drives a car takes a risk. Although not dangerous, some consider it risky to ask someone out on a date. Most of us don’t think about the numerous risks we take from sunrise to bedtime. We take risks because the benefits normally outweigh any potential negative consequences such as suffering a car accident or feeling rejected.
You may find this interesting. When retired people are surveyed, many say they should have taken more risks and lived a little more “on the edge.” Many wish they would have followed their dreams. Good news! Even if you are retired, you can still live out your entrepreneurial dreams. There are no age requirements for thinking big ideas and becoming an entrepreneur and your own boss.
Who are your heroes? My heroes are single mothers, teachers and American entrepreneurs. My wife and I have four children, and I appreciate what single mothers and teachers do for young people. Since this is a small business resource, let’s discuss the great American risk taker—the entrepreneur.
My work involves helping entrepreneurs succeed, and I am often asked to share my insights. If you come to me and ask, “I have a great idea for a business. What should I do?” Here is what I will tell you:
- First of all, do it. Just absolutely do it! You have one life in which to live out your passion. You are given certain talents and gifts to complement that passion. When you lead a small business, you also seize the opportunity to change the American landscape, to make life better for yourself, your family and others. Small businesses employ over 90 percent of the American workforce. This percentage represents a huge number of Americans. So go pursue it.
- Don’t fear failure or allow failure to stop you. Failure is under-rated. If you delve into business-success stories, you learn that failures often lead to success. It is the nature of the beast. So successful people know how to pick themselves up and learn from their mistakes. They look back and say, “I’m glad that happened because I learned from it.” Take for example, Sir James Dyson, an English industrial designer with an estimated worth of £1.1 billion. He states that his products are the results of a series of purposeful failures. Dyson’s Web site provides details about his innovations and struggles that almost bankrupted him. As he said, “Enjoy failure and learn from it. You can never learn from success.” Most experts believe that people today have to “fail fast,” meaning there isn’t much time to respond. We have to rebound very quickly and move on fast.
- Stay mentally sharp with positive energy and positive expectations. You know your areas of strength. Take inventory of those strengths and use them to build steam. A justified level of confidence, combined with strong passion, will help propel and sustain you during the normal ups and downs.
- Have back-up plans. You also have to positively prepare yourself for negative results. In the event a deal fails, make sure you are prepared to move forward with something else in place. Preparedness and strategic planning in the business world are like footwork and agility on the tennis court. You give it your best shot, and you’re always preparing for the return volley—right back at you. If you miss a shot, you don’t drop the racket and walk off the court. In business and in the game of tennis, you are always prepared to meet the next volley or opportunity.
- Ask for help and build strong relationships. Many risk-taker types are bold and self-reliant individuals. It is fun and exciting to be your own boss, but that doesn’t mean you have to go it alone. Strong people also ask for help and support. Most people admire a startup-business owner and their courage. They want to help by mentoring, giving advice and sharing their professional expertise.
- Familiarize yourself with business resources. Learn all that you can from other experienced entrepreneurs and business experts. You can learn from other people’s ideas, experiences and networks. The Internet has vast amounts of online information and various organizations exist to support small businesses, such as the U.S. Chamber of Commerce. Local community colleges, universities and libraries are also valuable resources. The American Library Association has an award winning Web site especially created for small business and entrepreneurs.
If you have a big idea and you believe it can turn into a small business opportunity, plan it out and absolutely do it. Then join the other small-business entrepreneurs who employ over 90 percent of the American workforce.
Additional Resource:
America’s Small Business Development Center Network
When retired people are surveyed, many say they should have taken more risks and lived a little more “on the edge.” Many wish they would have followed their dreams.
How Entrepreneurs Turn Big Ideas into Small Business OpportunitiesThe content is not cached.
/insights/steve_arizpe/how_entrepreneurs_turn_big_ideas_into_small_business_opportunities.aspx
10172
The information contained in this document is for general, informational purposes only and is not intended to be legal advice. This information is not a substitute for the guidance of a professional and should not be relied upon in reference to any specific situation without first seeking the advice of a qualified HR professional and/or legal counsel regarding applicable federal, state or local laws. HRTools, Administaff and their respective employees make no warranties, express or implied, and make no judgments regarding the accuracy of this content and/or its applicability to a specific situation. A reference or link to another website is not an endorsement of that site or service.