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You’ve got a killer idea.
(But, hey, you have a busy life.)
You’ve never seen or heard of a business like it.
(But does the idea already exist and you just haven’t seen it?)
You have the money to start it up.
(But you’re not sure you want to risk the money.)
Etc., etc., etc….
Welcome to the mental machinations just before you reach what we call…
The entrepreneneur’s Do Point is somewhat akin to the meteorologist’s
"Dew Point" you might remember from High School science class.
Whereas the "Dew Point" descibes the moment in time when air becomes saturated, the "Do Point" for an entrepreneur is when his/her mind becomes saturated with motivation and conviction. At that point, there’s no going back. It’s a fact of nature – you’re about to make rain.
We want as many people as possible to reach the Do Point. So we thought we’d offer a few perspectives to make sure nothing – no misinformation, no fear, no distraction – gets in the way. Here goes:
1) Money is never the primary stumbling block. If your business plan is strong enough, money can be found.
2) In hindsight, failing while trying is always far, far more palatable than failing to try at all.
3) If you feel alone, you are. Immediately identify someone you respect who could help guide you, and ask them to be your mentor. (Or become part of a club or community of like-minded people who can support you).
4) If making the leap is too terrifying, remember this trick: take baby steps. We often advise people to start part-time and ease their way into entrepreneurship.
5) If you take baby steps relentlessly, a few months from now, you’ll lift up your head, look back behind you, and say to yourself, "Wow! I am really doing it!"
6) Combining your instincts about your business opportunity with prospective customers’ feedback is an incredibly powerful combo and a great basis for assumptions in your business plan.
7) Never believe someone who says, "No!" all the time to your good ideas. Similarly, never believe someone who says, "Yes!" all the time to your ideas. Both are equally dangerous.
8) If you’re told "No!" in the process of trying to develop some initial momentum with your business idea, always promptly ask, "Why?" – You need to understand what’s behind all "No!"’s.
9) People less smart, less wealthy, less connected, less healthy than you have also tried their hand at starting up a business… and they’ve met with wild success.
10) Find "superstar people" to work with you (on team or on contract). As we said in our book, superstars can make even an average idea into a huge winner because they’re so damn capable.
Always trying to get you to the Do Point,
Rich and Jeff