I often say that starting a company is like jumping off a cliff and building an airplane on the way down. It’s a vivid metaphor that contains a lot of truths. First, you’ll need courage and optimism. You have to believe you can pull it off. Next, you’ll need ingenuity. Assembling a plane takes talent and skill, even under calm circumstances. In the chaotic rush of a death- defying plunge, you need agility. You need to react quickly. You need to be calm under pressure. You need to find the plunge exhilarating.
And then there are the stakes. If you don’t assemble the plane in time, you crash. In real-world terms, you run out of money. This is why speed matters. Once you jump off the cliff, the ground comes at you fast. It’s why, in almost every case, a slow-moving startup is dead. That’s part of what makes entrepreneurship so grueling— because the default outcome, until you get the whole plane running, is death. Not just for you but also everyone you persuaded to jump with you.
So what does it take to succeed in these entrepreneurial leaps of faith? The answer is at once simple and infinitely complex: You need an entrepreneurial mindset.
And yes, it can be cultivated.
Esta historia es de la edición March 2021 de Entrepreneur.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 2021 de Entrepreneur.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Why Small Businesses Can't Afford to Grow
Big companies take a long time to pay their suppliers. Sometimes, so long that the supplier goes out of business. Two entrepreneurs wanted to find out why this system is so broken-and wound up creating a solution.
MY FAVORITE CUSTOMER
For small, independent businesses, loyal patrons are benefactors, protectors, muses, and mascots. They make sure the show goes on. Here, three business owners celebrate an irreplaceable member of their community.
Do You Say 'Yes' Enough?
We don't give ourselves enough credit for trying. So let's start doing it right now.
He Does $10 Million-Plus in Sales
When Jeffrey Bell gave up horse training to buy a Floor Coverings International franchise, he wanted to get out ahead of his new pack. To do that, he had to learn to delegate.
How This Business Rookie Became a Top Seller
After competing in two Olympics, Cammile Adams dove headfirst into her second career - and became SafeSplash Swim School's #1 franchisee. Here's how.
How to Pick the Perfect Franchise For You
There are a lot of great brands out there. But that doesn't mean they're all a great fit.
Serving the Underserved
When Dennis Johnson opened a Pizza Ranch in Minnesota, he hoped to serve the nearby Native American communities in more ways than one.
When Life Is Preparation
Vanesa Ellis was no expert on mosquitoes or lawn care. But as it turns out, something else made her the perfect fit for two home-care franchise brands.
Changing Careers? Consider Franchising.
Here are five reasons why franchise ownership could be the right fit for you.
WRANGLING THE MANY-HEADED MONSTER
For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts say, is to stay flexible.