Creating your business makes you basically a parent of it, and being biased can be common, understandable, and almost justifiable. However, this biased vision about the company of Project can be counterproductive. If you are in love with what you build, it is time to ask for the point of view of someone who is not involved, someone impartial who will give you real feedback. Your clients, for example, are the best thermometer since they can offer you solutions or observations where you can detect your areas of opportunity.
This biased vision might even lead you to lose a possible investor, you can be too narrow-minded to understand that your “son” can be better and lose the opportunity to achieve what you want.
Entrepreneurship is one of the most exciting and demanding things. Whenever they approach the concern about opening business my answer is the same “Do it.” Although it obviously doesn´t end like that. I give my opinion on that particular case since the cost of starting your own business will depend a lot on who you are.
I am aware that being an entrepreneur is not easy. The first thing you should ask yourself is why do I want to be an entrepreneur? It seems incredible, but many take this step out of the belief that it is just what they should do maybe just out of social pressure. Others, believe that it is the only way to really obtain success in life.
This point becomes tricky, regardless of the prejudice it reflects but because it ends up being a pretext, not a real reason or passion. My advice is that what motivates you to undertake this task, be a reason for strength, a dream that has become a decision, because it will demand all your time and when you are tired, it is that passion that will allow you to continue with renewed stamina. Start thinking about your work team, because there is nothing worse than believing that you can do it alone, make sure they are convinced and motivated by what they are building.
The financial aspect is, without a doubt, a key point but it is a very common mistake to think that it is the most important thing, and to believe that with a reasonable amount everything is possible. An economic boost should be just that, what is necessary to propel you, not all you need to start.
A solid project has a high probability of finding an interested investor. However, you should not do it without first reinforcing yourself with experience and knowledge of the field in which you will work. Show them that you have traction as a small business. Show them that you have already thought about sales, alliances, income, and so on.
Looking for an investor is a sign that you are already dedicating all your time to undertake and structure your business. You should ask yourself some questions before: why will they invest in you if you are not completely committed to making the investment return? If you are not completely willing and prepared to do so it can be counterproductive since the experience of finding an investor will hit you both morally and in your reputation as a company.
You always need to be mentally, emotionally and physically prepared. It is sad to see when an entrepreneur is disappointed for not achieving his objectives and after this setback he leaves instead of thinking that, if he makes some small adjustments, it could become something really worthy. It is necessary to be persistent if you want to achieve your own dreams.