Over the past 7 months, I have had the opportunity to mentor a number of would-be entrepreneurs as they began the trek toward starting their own business. Each of these situations was different. Some were truly at the “dream” phase. They had an idea about a business, but no idea about how to start turning that dream into something more. Some had businesses underway, but did not know if they were making money (a business that is not profitable is known as a “hobby”). Still others had begun the process but hit a snag where they needed help to keep going.
Among all these were a few constants. The biggest one that I have run across is that each was surprised by the capital needed to get up and running. Either we discovered that together or they already knew that and needed help finding the capital. My point on this particular topic is a simple one: If you have a job, keep it. If you don’t have a job, find one. Your job is the most direct source of start-up capital available to you. Sure, it will require you to spend time working on something other than your start-up. Welcome to entrepreneurship, where your time belongs to your business. Generating your own capital is a lot easier, for most people, than asking friends and family for an investment or borrowing money.
Commit to being “all in.” Your time and your money will need to be poured into your dream to make it a reality. Are you ready to work harder than ever before? If so, you can be a success.