1. Most young entrepreneurs have no business experience. They have not been confronted by business challenges and they do not know how to solve intricate business problems. But experience and competence are probably the most important characteristics investors want to see in an entrepreneur. When you start a small business, you will gain experience and improve your business skills.
“The world is filled with brilliant million dollar ideas waiting to be funded but the world lacks seasoned entrepreneurs.” – Robert Kiyosaki
Starting a small business is highly recommended for young entrepreneurs because that business will be their learning ground; their own business school. I recommend you start your own small business because business mistakes can be made and corrected quickly in a small business.
“Underneath every mistake in business is a valuable lesson. Unfortunately, many entrepreneurs miss these lessons because they lament and blame others over the mistakes.” – Tony Martins
Decision can be made quickly in a small business and the consequences of such decisions will be felt directly by the entrepreneur and most importantly, the entrepreneur can get a feel of how every part of a business system inter-relates to make a successful business.
2. If you start a small business, you will faced by the initial startup challenges of finding new customers and managing the business system as a whole. Now the truth is; if you can handle these challenges, then you are preparing yourself to handle the business challenges of building a big business.
3. In business, there are unforeseen challenges. If an entrepreneur should humbly go through the entrepreneurial process of starting a small business, he or she will come to realize that there is more to building a business than just finding customers and making sales. An entrepreneur running a small business will come to understand that business is a people’s game; and it takes good people management skill to bring these people into fusion.
4. If you are able to start a small business and grow at a rate of maybe 35 – 45% per annum, investors’ confidence in you will be boosted. The investors will come to reason that since you have bootstrapped the business to the current level that you are, a little support will make a big difference. The truth is if you can confidently handle a small business and grow at a steady rate, then you can handle a big business.
In retrospect, I have seen entrepreneurs start and build small successful businesses but they refuse to go beyond the small business level. They started a small business, grew it into a success and got contented with the small business level. These set of entrepreneurs simply got contented with mediocrity. So for you who intends starting a small business, don’t make the same mistake; don’t get infected with the “staying small” syndrome.
“There’s nothing wrong in starting small, but the danger is in staying small.” – Robert Kiyosaki
“It is easy to stay the same but it is not easy to change. Most people choose to stay the same all their lives.” – Rich Dad
I want to encourage you to just start a business, no matter how small. Don’t wait for the right time because there will never be a right time. You might make a few business mistakes and experience a few business failures but don’t quit. The entrepreneurial process rewards only those who stick it through to the end. Good luck.
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