Being an accomplished entrepreneur can only be judged in retrospect. Many ideas and inventions fill the airspace looking for runways to trot on before taking flight. While some struggle at the stage of formation and structuring of the business ideas and plans, many strut the runway but cease to spread their wings and fly. Walking the runway usually starts with stuttering and failing steps, shyness, fear of the unknown that characterize the teething period of starting a business with the myriads of challenges from funding, staffing, production, selling, advertising, competition, having a structure and etc. Gradually comes the boldness and confidence to walk with spine straight, straight gaze, swaying hips even with a stiletto so it is with the smoothening stage of an enterprise’ process. Starting an enterprise, beginning production or offering of service is a gradual process, with concerted effort, it progressively gains momentum, builds competitive edge, gains profit and ultimately achieves sustainability.
The path of an entrepreneur is laden with so much potentials, opportunities, learning and lessons. It’s never a series of events with a predictable end but a mixed grill of ups and downs, twists and turns, profit and loss, boom and recession. It is important to understand that the period of boom is not the time for sharing the largesse and also embrace the fact that failure or losses is not a sign to call it quit. Having it all under control whichever end of the pendulum it swings and never giving up on one’s idea is not only a sign of maturity but the art of making an enterprise a life.
Having a business idea is the foundation of every enterprise but in reality, having a business idea is never enough! The grave remains the most fertile ground as many ideas die not seeing the light of the day! Business ideas remain the cove through which great enterprises are built. Many times, ideas and businesses go through different stages and different cycles which can involve ideation, starting up, structuring, growth, failure, remodeling, relaunching, it can even involve diversifying, divesting, partnership, collaboration etc. For further reading on life cycle of an enterprise, check Global Community for Advancing Studies in Entrepreneurship
One fact is certain, the whole world is ruled by ideas and enterprises that become success stories today are those whose ideas become known and desirable to replicate.
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