06.01.16

Starting a Business: Fantasy vs. Reality

By: Michael Fritsch, Entrepreneur in Residence, Northeast Indiana Innovation Center

When one starts thinking about what it takes to start a business, the initial thought that comes to mind is that it would be simple to do so. It’s an easy straight line from beginning to end. Right? You start with an idea, get some people together to help you, get an office, and just go with the business flow. Psh, if it was this easy then everyone would start a business.

Well let me tell ya, starting a business isn’t a straight line from beginning to end. It’s a long and squiggly line that goes back and forth, up and down, right ways & sideways, that takes you on the ride of your life.

Take a look at this info-graphic:

Twisted Path

Have you ever thought about it this way? To those who aren’t there to witness you put in all those hours to make your business a reality, it seems like an overnight success.

But don’t let the fact that starting a business is difficult deter you from starting. Here are few tidbits of advice for you:

  1. Don’t be afraid to make mistakes, that’s how you learn. If you fail, fail forward.
  2. It’s good to know what resources are available to you and your business. The SBA, The NIIC, and WEOC are examples here in Fort Wayne, IN.
  3. Network! You can never do too much networking. You never know how who you know can help you grow.
  4. Be a good leader. What does that mean? Know when to lead, know when to trust your employees, and know when to take a step back.
  5. Go for what you want! If everyone played it safe, we’d never be innovative or progressive. Take that risk every once in a while, but be smart about it.

Remember, YOU ARE THE EXPERT AT WHAT YOU DO! Go and make an entrepreneur of yourself and prove that YOU CAN DO THIS!

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