Sue Rutherford was asked to write an article on Entrepreneurship for 20fourlabs and I think it’s worth republishing purely for the sake of being incredibly useful:
The idea
In order to start a new business, you’re going to need an idea and a vision about how that idea is going to be transformed from a concept into a tangible reality. As a budding entrepreneur, you may well have spotted an opportunity that you think will convert into a profitable business. Take time to research the idea, make sure it makes good business sense to pursue. Your idea needs to be different and useful in order to succeed, particularly if you’re looking for funding. Innovation is paramount – variations on a theme may limit your chances here, unless your plan for execution is both unique and outstanding.
Your passion
Successful entrepreneurs are passionate – not only about their product or service, but also about the future of their business. You must be excited about what you’re doing and the ability to share your enthusiasm with others is the key to finding great employees and generous funders.
Once you become an entrepreneur, you’re on 24-hour call selling the concept behind your business, its viability, and its future. Only someone who is truly passionate about their business can accomplish this.
Take a risk
To get your idea off the ground, you have no option but to dive in. All the theory in the world is not going to get your business started and sooner or later you’re going to have to take some calculated risks to see your new business come to fruition. Taking risks is what it’s all about and part of that is being willing to accept failure. Don’t be afraid to lay it all on the line for something you believe in..
If you’re interested in reading the rest of the article, you can do so by clicking here!
