FOF

     I’m going to take this blog post in a little different direction.  Let’s go back to the first time you thought about what it would be like to have your own business.  How many times since that first thought have you considered “why have I NOT done it yet?”

     One of the biggest obstacles that you will have to face is probably not one you have wanted to face.  In considering what would be required to “get your business off the ground” you may realize there are a LOT of things that you have to consider.  You have this great talent or perhaps a unique idea, both of which would be wonderful in creating a new business.  However, we all know that more must be considered.

PLAN

     You must have a solid plan in moving your business forward.  I spoke about this previously when considering the business plan.  Here I’ll only review a few points briefly.  You MUST invest the time it is going to take in preparing your business plan.  Spending the necessary time at this stage of your business will no doubt save many headaches in the future as your business becomes operational.  Don’t forget you’ll need to periodically review your plan and make necessary adjustments as your business develops its own life.

     Within this plan you will need to consider management, employees, finances, structure, marketing, perhaps even an eventual dissolution.  All of these elements will need to be looked at as if under a microscope.  Various possibilities must be taken into consideration and a plethora of “what if” scenarios will need to be examined.  However with all the planning that needs to be considered and reviewed and then reviewed again, NO business will materialize until you get out of the planning stage and execute!

EXECUTION

     Sadly this is where many individuals fall victim to the FOF.  The Fear Of Failure holds so many back that regardless of all the planning, all the great ideas, or all the individual’s personal talents or ambitions NO execution is done to put the business into reality.  This fear is the one thing that “kills” some great ideas preventing them from getting “off the drawing board” and into the real world.

EXAMPLE

     I’m a bit ashamed to admit it but I’m just as susceptible to this fear as anyone.  A number of years ago when I worked in the auto industry the major vehicle manufacturers developed this idea of putting computer controlled chips with satellite connections into their vehicles so that vehicles could be located wherever they might be by means of the GPS.  General Motors called theirs On-Star at the time.  Ford and Chrysler had other names for their similar devices.

     This gave me the idea of using a GPS chip to tag our pets.  If they were ever lost, ran away, or got stolen you could locate them by means of this device.  However considering the amount of funds that would be needed to create this device and being overtaken by the Fear Of failure I let the idea “die.”  Sometime later the idea was developed and I’m sure someone made a considerable amount of money from this business venture.  But I’m not counting myself out just yet.  I’m still working on the “rocking” toilet!

CONCLUSION

     Don’t let your ideas, your hobby, a business venture, or any other creative idea of yours be stifled because of the Fear Of Failure.  Do some research for yourself and you will find out that MANY successful individuals failed a lot of times before they finally hit on THAT idea or product that made them winners.  Besides if you never put your plan into execution you’ve already failed.  Believe in your product or service.  Believe in your research and your planning data.  But most importantly believe in yourself and NEVER let the Fear Of Failure hold you back.    

PS

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QUOTE TO CONSIDER

THOUGHTFUL GEM

“Even if your steps are small, continue to move forward and NEVER let anything hold you back from success.”