Starting a business is a popular thing to do right now. People from literally all over the world are turning to the Internet and are excited about the opportunity it can offer them. And, of course, there are the offline businesses, too. Of all these businesses, some succeed, some fail, but all of the entrepreneurs who started them long for a golden future.
So why was my friend among those who were failing? He loved starting businesses but after our discussion I learned that he had started 4 businesses. They all jumped out of the gate really strong then fizzled out and died. What was the problem, he wondered.
We talked about his interests and he related that he loved entrepreneurship. I pressed him on details and he said that he loved the edge of the seat excitement that came from dreaming up a business and making it a reality. I asked him about what happened after that and he gave some good, stock answers about the need to create a long term growth plan that would see a profit for all stakeholders.
If you had seen my friend talk you would have noticed it right away. When it came to describing the STARTING of a business he was animated, passionate, excited. But when it came to RUNNING a business he was subdued, bored, and confused.
Even on those occasions when he hired someone else to manage his business, he simply lacked the passion needed to build the business further. He would move on to something else.
Is it possible, I wondered, that some are destined to start businesses but never run them? Why not! My friend, after all, is not alone. There are many businesses that fail and not always because of the specified reasons. Sometimes the business-owners interest wanes or they move on to a new opportunity.
At the same time I know of many entrepreneurs who love the idea of starting a business but frankly have no idea where to start. I try to help those people a lot on this site but I still encounter many who say that they are reluctant to start a company because they don’t have the ability or know-how to get the appropriate licenses, set up the contacts, and start manufacturing. However, once they are in a business setting they can thrive and make the business thrive.
So my friend and I detailed a plan- but not a typical business plan. We put together a plan for his business, which would be starting businesses, making them initially profitable (which he was very good at) then selling them before he unintentionally tanked them.
Now, he can work at exactly the kind of business he loves- the start-up! Then, he can sell it to someone who wants to own a business but simply doesn’t have the ability to take the leap into the uncharted territory of a brand new business.
My friend is excited and already onto his next idea.
Now, I should include a disclaimer here: like many business ideas, this may not be the right business idea for you. It still takes planning to start businesses and sell them. However, if you find yourself in the same situation as my friend, it could be something for you to consider.
