Many entrepreneurs will admit that when they began their businesses, they were not spending
much time doing their homework! Entrepreneurs are typically focused on actions to take instead
of researching. Here is a great metaphor that describes how entrepreneurs think:
Imagine you’re driving 70mph down a road at night. Your headlights light up the next 200 yards
of the highway ahead. You are confident that you could get around any obstacles or completely
stop if necessary. So, as long as you can see the 200 yards in front of the car, you will confidently
continue driving at this speed in the dark.
This is the same as an entrepreneur’s business. They don’t care to know what is going on a mile
away, and most of the time can’t possibly know what is waiting for them down the road. What
truly matters is that they have the confidence to handle anything that comes their way.
The Importance of Doing Your Homework
Most entrepreneurs say that when they first began their business, they found many obstacles and
tried to avoid them by spending an excessive amount of time, money, and energy. Some
eventually give in to these obstacles which leads their businesses to misfire or end altogether.
With the advantage of hindsight, it is easier to see why some things do not work out as planned.
? If they could drive the same route during the day or had the opportunity to talk to people
who use that route every day.
? If they had done their homework BEFORE encountering the obstacles!
There is the possibility that the business may have still failed but look at the time money, and
energy that could have been saved.
? Good entrepreneurs learn much from their own mistakes.
? Seasoned entrepreneurs learn even better from the mistakes of those around them.
Successful entrepreneurs with the right mindset and started multiple businesses seek others who
have ‘been there, done that.’
Entrepreneurs are always striving to be more effective, efficient, and faster in everything that
They want to find the guy who made the path and ask:
? How long did it take?
? What did it cost?
? If you had to do it again, what would you change?
They want to know what worked and what didn’t so they could improve the best strategies and
create a new path for themselves.
Questions Find Solutions
A great skill to have as an entrepreneur is to ask good questions and to pay close attention to the
answers given. This will help you to learn and grow your business.
By using this skill, it prepares you to speak to future partners, customers, or anyone looking to
promote your business. Also, it is a good idea to remember to ask, ask, ask instead of tell, tell,
tell when meeting someone for the first time because it creates a more compelling impression.
Which Strategy is Best?
By doing your homework, you can find exactly what works, but be aware that the same strategies
may not work for everyone. You will find alternatives that will be a better fit for you.
What happens very often is collaborations with someone who has experience with the strategies
that have not worked for you. If you channel your strengths and they channel theirs, there is no
room for weaknesses.
When it comes to starting and growing a business, your mindset is very important. Strategies are
something that can be learned quickly, but a strong enthusiastic and determined mindset is
necessary to reap long-term rewards.
The more time spent with other entrepreneurs, and more questions asked will help you to learn
faster and you will see it in the growth of your business. This option is also much more fun than
working for an employer as well!