Next to communism, waiting is the greatest enemy of an entrepreneur. Too often I’ve found myself waiting. It’s an innocent mistake I keep making. I do not do it out of laziness. I simply think I’ve exhausted my current resources and need to wait for my plans to come to fruition or I’m waiting on the perfect timing or season. This summer, I have found myself waiting on a pitch competition as an opportunity to raise capital. That plan did not come into fruition. So what did I do? I worked the month of July trying to make money through hard work in order to raise enough capital to start my business. Alas, that was a mistake. Making money is necessary. I need to do it. My mistake was waiting for the money to come. Through prayer and dissatisfaction with work, I’ve come to the realization that I need to seek a low cost means to test my concept. And so I’ve resumed researching through vast corners of the internet. This experience has taught me a lesson that I want to relay to you.
Waiting Is Not A Step In Starting A Business
I can’t recall hearing any stories of entrepreneurs who waited until the right moment to start their business. Perhaps there are times when they started a business when the opportunity cost dropped such as job loss, but that’s when they decided to become entrepreneurs so that doesn’t count. The entrepreneurs you hear about did things. They did not sit around and wait for their plans to come into fruition on their own by someone else’s will. They hustled, grinded, and their venture came into fruition through their hard work.
There’s No Time Like The Present
It’s a cliche saying but true. For me, I have as much free time as I will have for the next five months. I need to use this time to start my business. Otherwise, I should pursue something other than entrepreneurship. I’ve found myself doing more research on jobs I think would suck less than my own than I have on my venture. That’s a mistake. I need to use my job as hunger for launching. I have since corrected my error.
Low Cost Entry Means As Opposed To Saving Up
I have a somewhat steady job that I do not foresee being able to save up in the near future to launch a business in full force as I want to. The bright side of that is that I can start a business with low opportunity cost. I can launch and hopefully not take so long to be making the same amount I was bringing home before.
Research Research Research
You should never find yourself lacking for entrepreneurial tasks. There is a lot of research in every endeavor. If you’ve think you’ve done enough, then you need to pick up a book. Warren Buffett reads a lot. That’s what keeps his mind sharp for investments. Oprah is successful due to reading as well. The researching stage doesn’t end as far as I know.
Again I want this to be taken in an encouraging light. I don’t want you to be making the same mistakes I’ve made. I’ve wasted a lot of time that could have been put to good use. But I believe God has set me on a new path for my venture.