Blog -Most often than not great entrepreneurs have started their journey to success by first creating an idea either by accident or design.
A great example of a person who is currently doing well in the world of trade is Stephen E. Gerard who had worked in corporate world – large Fortune 500 companies and then early internet start-ups – for 20 years and at 40 decided to venture into his own businesses. His first company was founded in 2004.
He came up with very useful pieces of advice for those who may be willing to bid bye to their 9-5 office job.
Do What You Love.
There can be nothing as interesting as doing what you like. For Gerard, it must meet these three criteria: He can’t wait to do it, he loses track of time when he’s doing it, and he gets upset when someone interrupts him doing it. Though entrepreneurs can find a career they love at any age, midcareer professionals benefit from knowing what they like and don’t like as well as their strengths and weaknesses.
Refine Your Idea.
For a business idea to thrive, it must meet a market need—and make money. Beware of trying to elevate a hobby into a business, Gerard says, recalling a time when he considered becoming a professional winemaker. “I wasn’t that good at it, and I wasn’t willing to put the time in to be good at it.” Instead, talk to as many people as possible about your idea, refine it until it’s a viable business, and get referrals to speak with business owners who have done something similar.
It’s Never Too Late.
Midcareer can actually be the best time to become an entrepreneur, whether you’ve set your sights on starting a side hustle or launching a major corporation. Why? You’ve likely developed the necessary business and leadership skills by that time and bring significant know-how to the table.
That means learn by making mistakes. Don’t spend so much time thinking and planning that you never take a chance. Get out there and try to sell your idea. Understand that mistakes will be made, but it’s all part of the process of adapting and advancing the idea. Alternatively, too many roadblocks may reveal that you need to come up with a different plan entirely.
Sleep on It.
Entrepreneurship is emotional. Each day brings a new challenge, and it’s hard to determine whether the right reaction is to stay the course or completely panic. Gerard’s tip? Sleep on it. “Everything looks different the next day,” he says. “You’ll have more clarity and a better idea of what to do.”
For those who understand success not just in business alone, it doesn’t just come easily; and for the faint-hearted it is even a nightmare. It takes pain and persistence to test first dollar.
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