So you want to start a business?

Posted in: Business Development, Startup by jrobinson on April 14, 2011 | No Comments

Everyone has ideas. Ideas are sexy, fun to talk about and fun to dream about. It’s pretty intoxicating to consider that this little idea you have could change your market, provide a much-needed service, or secure a big paycheck. But, executing and building a company around your idea is a whole new animal.

When I started my first company three years ago, I was admittedly a little lost. I’d had no business classes in college and hadn’t yet had a post-graduation job. But, I knew my idea would deliver a valuable service, so I started down this road. There have been times when I couldn’t wait to move forward and keep building, but other times when I’ve just wanted to quit. Maybe for an hour or maybe for a day, but when the workdays drag on and the planning keeps you up at night, you want some relief. That relief comes in a big sale, a new contract, or a growing customer base. There are incredible highs and deep lows, but focusing and striving for those “winning” moments can push you right through.

That isn’t meant to discourage anyone from entrepreneurship. Sure, there are concerns & difficulties, but creating a product or service that people grow to rely on is one of the most rewarding feelings I’ve experienced. Customer by customer and dollar by dollar, building a business from nothing is something few care to take on, but those that succeed have complete control over not only their bottom line, but the kind of life they choose to pursue. That continues to be one of my biggest motivators and is the driving force behind many aspiring entrepreneurs.

I want to be very clear – it isn’t easy. Too many people get fed up with their current job and see the appeal in “working for yourself”, “setting your own hours”, or “having more free time”. There’s certainly a misconception of self-employment that goes something like: sleep in, work in my pajamas, do what I want (when I want), and somehow along the way, build a profitable business. If all you want to do is sell baseball cards on eBay, that might actually work.

Once you have an idea and start to move forward, you need all the self-confidence you can muster. You’ve got to be so confident (almost arrogantly so) that what you’re pursuing creates value for potential customers and that you can deliver.

If you’ve got an idea, want to move forward, and aren’t sure where to start, read Michael Gerber’s The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It. Then, keep reading. Listen to podcasts. Subscribe to Inc. magazine. Find a mentor (or two). Follow the right people on Twitter. Talk about your idea to everyone that will listen. Get critical feedback from people you trust. Deconstruct your idea. Consider how you’ll build a business around it. Think through every aspect — creating a website, opening a store, keeping the books, finding customers, keeping customers, building value, studying the competition, developing a marketing plan… The list goes on forever.

I am not an expert on entrepreneurship or telling you how to cash in on your big idea. What I do have is first-hand experience of taking an idea and building a business around it. Sure, it’s a non-stop struggle to create something worthwhile, sustainable, and profitable. Entrepreneurship is a long, hard pursuit that affects every aspect and waking moment of your life. If you can (and want to) take that head-on, then let’s go. It’s an extraordinary ride.

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This post was contributed by Jonathan Robinson, a young entrepreneur living and working in Birmingham. Jonathan’s companies include FreeTextbooks.com (founded 2009) and theClubhouseLeader.com (founded 2010).