Before starting dissecting such an important theme, a Disclaimer is needed: 

Please, don’t take this personal!
Take the following text as something written by someone that has started multiple businesses, from Clothing (Sports and Casual), to Real Estate, Medical Goods & Services, passing by Football & Scouting Agency, and that effectively (which does not mean efficiently) runs a couple businesses daily.

Everyone has the right to pursue their dreams and wishes, I truly believe in that.

Now, does that mean everyone should follow the entrepreneurial route?
Absolutely NOT!

It’s amazingly hard, requires a deep connection to self, loneliness and resilience.

If you’re not ready for that, don’t even start reading this text – there’s a lot of questions hidden and is not for everyone to be ready to answer them all.

Let’s do it – YOU Want to Start Your Own Business – Great!

Many questions are important, but I would start with: “Are you solving someone’s problem?”

This is a critical question, because you must ensure that there’s market for whatever Good/ Product, or Service you’re looking to sell.

If so, many more arise (just shouting some random questions here that are popping up my mind now while at the airplane):
. What is that? 

. How are you going to sell it? 

. Which market? 

. Niche or Broad?

. Physical or Digitally?

. Locally or Global? 

. Who is your buyer? 

. Why should they buy from you? 

. At what cost? 

. Is it 1 Product or Multiple Products, or Services? 

. Do you have Front-end, Middle-end, Back-end and Recurrent Offers? 

. What is the expected LTV of your Clients? 

. Why?
. Can you change? Adapt? Evolve?

. Can you Streamline Processes? Expand?
. How?
. Who is going to sell?
. What is the expected timeline for Sales to happen?
. Do you have Precautionary Measures (depending on the Services these may change dramatically, as a Repair Shop for a Product, or an Insurance for Specific Services, etc)?
. What is a Crisis at your Company? How to solve it?
. How does success look like?
. Are you going on this journey alone, or need help?
. What kind of support? Who’s your ideal partner? Why?

. And so on…

More than what any MBA or Management Bachelors will teach you to do for your Business Plan and Proposition – from PESTLE or SWOT Analysis, Six-Sigma Presentations to SMART Objectives, among others – that are sincerely important ( just to clarify, by sincerely, I mean that I’m starting my 3rd MBA soon), my perspective always reverts back to YOU:
. Who are you?

This simple act of knowing yourself, your strengths and weaknesses, where you’re comfortable and where not, and knowing the context of the area you’re getting into, are tremendously important for you to define not only the Product or Service you’re Offering. But also, to understand if there’s a demand for that, if you should partner with someone or not (and what are the profile of person you want to back you up on this journey), how much energy you are able to spend at the project and for how long, what are the limits (defining a Crisis Management Strategy), how you want to be perceived, where to position your brand, what’s the Strategy you are setting up for Marketing, if you have been producing content to support that, does people see you as an expert in the area, etc.

There are a lot of questions – it gets invasive, personal, almost mentally abusive at times to answer to all of them – but only then you’ll be sure you know your Offering.

Therefore, I always lean on a simple, yet powerful, tool – 5W & 2H:
. What ?
. Why ?
. Who ?
. When ?
. Where ?
. How ?
. How much ?

This Analytical Tool, allows me to better understand it all – literally to all my questions and answers I would apply at least 3 to 5 of these questions, because they are cumulative, compounding and integrated, where some will complete the others.

A simple example: I want to have Offer a Premium Service, therefore it only makes sense to have an Exposure and Positioning based on Premium Quality and Delivers. What does that look like; Why do I want to be seen (or my Service seen) as such; am I producing content or any other means of Communication to the Public explaining why my Value is equivalent to my Offering; with what regularity and where; etc. 

Then, assuming it’s Value, I have to position the Price at a specific point, not allowing the Discounts fever to take over and devalue my Offering – is this correct?
Ok, but there are risks within this Strategy (everything is a Strategy) – you will probably take more time to sell these Products, to create that Positioning you’re looking for, to be seen as an Expert, to be trusted with someone else’s money and time, for people to see Value in you. 

Are you ready for that hit?
Are you ready to sustain for months or years without success?

Well, what does success look like to you, in the first place?

By now you’re probably hating me, I know.

Or, you don’t believe me.

It’s fine.

The first rule is always “Don’t take it personal”, and I follow it with all my strengths.

There are different cases, but here, if you feel this way, you’re not frustrated with me – YOU’RE FRUSTRATED WITH YOURSELF.

I’ve been there.

Many questions raise many doubts – mainly the one that reinforces the barrier we all have: “Am I good enough?”
The old self-doubt we all face, at times.

One thing I know for sure, if you’re not ready to answer these questions (and many more that will arise when time comes), DON’T EVEN START.

And, again, it’s fine.

We don’t have to be all entrepreneurial spirits, we don’t have to run our own business to be important or significant to the world and others around us.

However, we do need to know ourselves, what we are and what we aren’t.

And if that means you have an entrepreneurial spirit, cool – Go Ahead!
If not, cool – find the best Company to work for, one that values your abilities and develops your potential.

Each of us has a different path ahead.

I would even say, we don’t even have to be exclusively one or the other, we can mix it if it’s possible.

Why not?

The limitations start with you, the barriers you create based on your context.

We don’t have all to believe in Plan A, B and C, just as we don’t all have to believe in the same “Work-Life Balance” scheme or understand “Obsession” in the same way.

These are only subjective perceptions of the reality you face daily, your Cultural Values or the Education, friends and exposure you got – it doesn’t necessarily mean they’re an absolute true worldwide.

On the other hand, I want to finalize it with something special – THERE’S NO ONE LIKE YOU!

In the same way that is true that your perspective is only subjective, and with that you’ll have to face the good and bad sides of it, your Value is equally unique, and only you can do it in your own way.

If it’s better or worse than your competitors, the market will decide – but uniqueness is within all of us, you just need to be able to find your path and go for it!

If you’re starting your ventures, or thinking about it, I hope this small text helped you.

I did my best to guide you through the foundational aspects for the challenges ahead – it starts (and ends) always with you, your values – good luck!

If this text made you realize that you’re probably not the person to drive the wheel of a Company, I hope you understand the importance of acknowledging that soon enough. 

You’re absolutely not more or less competent or human based on that, the great majority of people isn’t done for the ups and downs of having a business anyways.

Perhaps you may need more time, to gain more experience, to start small, with zero expectations and build on top of that.

Or you need to start in a mixed-format.

Or, maybe, it’s just not for you.

And it’s fine.

For the first time in my life, after so many mistakes, ups and downs, moving countries, cities, houses, studying, investing, losing money and so on, I’ve made my first ever 10-year Plan, defined a clear Strategy which I’m following it religiously – almost to the point where I’m not even looking at the likes, comments, shares or followers.

Why? 

Because I truly believe that within these 10-years someone will give-up, stop adding value, stop looking for their Positioning, stop posting content, stop being relevant, stop pursuing their dreams and stay at their comfortable zone.

Just like the majority.

But it’s very hard to deny those that always fight back (resilience).

I will definitely be on the last group, the ones that fight back.

Always.

Which stage are you now?
Where, and how can I help you?

I’m a click-away.
Drop a comment below, get in touch on my socials, I always reply to every single person that contacts me.

P.S – Don’t trust your friends to sustain your Businesses, just because they’re your mates. It doesn’t work like that. My wife doesn’t read half of what I write or publish, and vice-versa, and that doesn’t mean we don’t love each other. Friends are Friends, Family is Family, Businesses are Businesses, Clients are Clients – as simple as that. Some will intersect with each other, some will be raised on top of the others, but in your mind, they must be in each other’s boxes clearly. 

Manage your expectations, always.