Dream to start-up!

Most of us have probably had a dream of our own venture, giving a break to the existing, leaving behind the employer & becoming an employer. 

A city side food joint or a brew-pub or a book store with a cup of coffee to relax or an IT firm with an office in a real state  or a hill top maggie & tea point. I have seen some professionals in my career where they have left their current to start-up on their dreams . My case is upturned here & i am still enjoying my profile. Still, in the back of my mind, I harbor that little daydream too. My business of hill side cafe, where i would be making coffee & pastas for my daily customers. People come early in morning & late in eve, have chat & disappears.It’s a nice idea because in the dream I don’t have to worry about making enough to live on, pay rent, deal with suppliers or fend off fierce competition.

Just to give you a break even, more than 50% of startup's fail within 1 years & just 20% manage to sustain for 5 years or more. I have looked over around 200 firms who failed to sustain in market for 1-2 years & i found 90% of them had an absolutely rocking idea. So,question is how do they Fall?

An old saying is "failing to prepare is preparing to fail" absolutely fits in most of the case studies. The ideals for a business to take velocity needs to be surfaced & uprooted & here are some keys which i found missing in failures. 

Kick starts with a solid business plan, and there are many great books and resources that can help a fledgling entrepreneur develop one. Once your business plan is done, it’s ideal to bring in some experienced to be pulled in & reviewed & evaluation is done. Flaws & pit holes in the plan should not shake you up & are obvious things to come in picture.

Financing & its distribution over collateral(friends & family) & funded(banks & investors) allocations is a big task. Identifying the suppliers & differentiating your business with a vertical line in market play as key.  The team you form & believe in that they are a part of your success will open gates of long term establishment. 

Downs & ups, probably this could be the sequence & downs would be just before the success line. Staying calm & focused with not a give up approach will take you through this line. Spouse, partner,  friends & family can help you stay motivated through the early days, when you might experience more downs than ups. If your enthusiasm starts to waver, the encouraging voices from your personal cheer leading squad will keep you going.

Goal Setting or bench-marking is important. set the goal & once reached, tell yourself successful & cheer yourself & team with beer. But, in case you don't reach out, probably you need to do something else or think through. Be honest, realistic & harsh towards your evaluation & describe whether your venture is working out or not. May be you had a rocking idea & you are emotionally attached to it & obviously you should be as you have altered your life on this. Believe on the stats & findings.

It's Just the matter of following your passion & climbing up. Until when you follow your dream into reality, success is your door step .                                              If you turn the odds & draw examples, big or small you are true contributor to the society & economy, as this will create employment for some & a necessity for others.        

 Through history, it’s been people’s willingness to take risks that has brought great innovations and kept the economy, and our civilization, moving forward.

Follow your passion because psychological rewards do count. The shame isn’t in failing; it’s in not trying.