Hatching Your Million Dollar Business Idea: The Journey Begins – Stage Two: Exploration

The Journey Begins and Stage Two: Exploration

In the last post we shared that each of the five stages of the internal process has three basic components: emotions, cognition and actions. Emotions are all about feelings. Cognition is the process of knowing, perceiving and remembering. Action is driven by the need to get something done and is the doing. Based on observations of both individuals and teams over the years, here are the stages of this process: pre-decision, exploration, introduction, launch and autonomy. Each stage features different emotions as well as cognitive activities and actions.

Stage one: Pre-decision was in last week’s post and below is a closer examination of Stage Two: Exploration, the other three stages will follow in the next several posts.

Stage two: Exploration

  • Emotions – excited, zeal, surprise, wonder, hope, fear, desire fear and stress are a few of the typical examples of emotions felt during stage two.
  • Cognition – pattern recognition, perception, calculating, concept formulation and decision making are elements involved in stage two.
  • Actions – information gathering, recording, developing, diagramming possibilities, collect data, gathering evidence and exploring risk assessment are some of the action elements of stage two.

Preparing to leap can really bring out individual differences. Each person prepares to make the leap into a new adventure in very different ways. Some individuals can make the jump without much investigation or accumulating much data. At the other end of the spectrum, the well-prepared individual needs to have done an in-depth investigation, gathered data and performed a full analysis, as well as having developed a highly detailed plan regarding how move ahead.

Sometimes after an exploratory investigation an individual will decide not to move forward. Reasons may include current obligations, lack of confidence, risk aversion, lack of supporting data or just plain fear. At other times, after only a preliminary investigation, the individual is ready to take the next step. The most important point here is, when the decision is made, it is a conscious decision on the individual’s part.

Once you make the commitment to move ahead, interesting things begin to happen that will impact your project. Helpful information and resources will appear or will be discovered. For example, an advisor may materialize through your research and will help you through the process. As you move forward, you will leave what you know behind, entering a world in which no matter how good your research, data gathering and analysis are, you will encounter unknown rules and boundaries. This leads to the final stage of exploration. You may begin to have “second thoughts,” have “buyer’s remorse,” or begin to think, “why did I decide to do this?” During this phase, you move from the known to the unknown. This can be the point where your greatest fear exists and you find the angel on one shoulder/ the devil on the other both are yelling at you at the top of their lungs. The unknown and unknowable are significant hurdles to overcome, but overcome them you must. This is the jump-off spot where you enter a new stage, the point at which you must be willing to leave the old behind.

Join us in our next post Hatching Your Million Dollar Business Idea: The Journey Begins for the next stage, introduction, with launch and autonomy in following posts. If you cannot wait for the posts and articles check out my book on YouTube, Amazon or visit us at Satori Inc. and “awaken your possibilities”.

Previous Article
business on main street

Albert Scaglione Founder and CEO of Park West Galleries

Next Article

How Xiaomi became the world’s most valuable technology startup

Related Posts
Read More

How to Motivate Your Team Using Milestone Charts

When planning and tackling a project, there are a variety of ways to help your team stay on track. You can keep a list, create a Kanban board, or use other organization resources. Another popular method is to focus on reaching your project milestones. Milestones are important steps that need to be completed to finish...
brand awareness strategy
Read More

How to Create a Brand Awareness Strategy That Will Generate Buzz

Have you ever recommended a restaurant to your friends or traveled to a city solely because your neighbor couldn’t stop talking about it? If you answer yes to any of these questions, you have experienced the buzz—hyping something so much that people start talking about it.  The concept of generating buzz to get consumers, marketers,...
hiring remote employees
Read More

Crucial Steps When You Hire First Employees for Your Remote Business

Are you the one-person show behind a thriving virtual business? If so, you likely handle all of your company’s sales outreach, customer service inquiries, order fulfillment, social media marketing, budgeting … and the list goes on. Are you overwhelmed by all of the daily tasks you need to do to keep your enterprise running smoothly?...
empathetic company culture
Read More

Attract Talent by Creating an Empathetic Company Culture

Each new generation brings something different to the table and tries hard to paint the social norms in their colors. Nowadays, it’s millennials' turn to make the world a better place and they truly managed to bring some extremely sensitive issues under the spotlight.  Let’s take the workplace as an example. What used to be...