The right time to become an entrepreneur is when you have an idea
that you feel you can capitolize on.
One might argue, yes, but what if you fail? A true entrepreneur is not afraid of failure. Why? Because a true entrepreneur will learn from mistakes. A true entrepreneur to a certain extent will challenge the system to see if something can be successful. Only then can he/she know that this or that can or cannot be done successfully.
Once you’ve tried something and failed at it, then you learn it cannot be done successfully in your particular circumstances, so you learn from it and change. That is what a true entrepreneur does. Adapts to the circumstances in his/her arena.
Franchising is one arena for an entrepreneur to explore. There are a lot of
different types of franchises out there. For the most part, a franchise is a business plan that has worked for others. That’s not a guarantee it will work for you. You still have to make it work. Check www.thefranchisemall.com
Entrepreneurship is a bumpy road, not for the faint of heart. Even with the best of plans, some ventures will fail. You need a lot of support to be an entrepreneur. Either that or you need balls of steel.
The arena is constantly changing. Technology is changing rapidly. To succeed you must keep up with technology. Think of it as preparing food. You like certain spices with certain foods. Certain foods go together. For variety you might try going outside the box with your choices. New technology changes the flavor of an idea.
Be prepared to see someone steel your idea. The internet is an open market. Once you put your idea onto the internet, someone may see the benefits of it and try to better it. That’s the entrepreneurial game. Reap the benefits of bettering another person’s idea.
OK, now that you’ve got the right mixture and you’re ready to forge ahead,
what’s the next step? One important step that gets overlooked at the start is
how to get out. Many entrepreneurial ventures are short lived. It’s been said,
maybe 5 years. If your idea will be short lived, what’s the step when it starts
going downhill? If you’re prepared, it will be much easier. So, before you even start a venture, plan an exit strategy and time. If, in you time frame, the business is still accelerating, GREAT! Keep forging ahead, constantly watching for acceleration. There will be some bumps to iron out along the way, but, at some point, it will be time to initiate your exit plan.
Have an exit plan in place.
