The Art of Winning. The Startup Guide. Yury Yavorsky
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will overstrain you, undermine your abilities, and, most importantly, destroy your confidence.
Never be afraid of experimenting with searching for a suitable field and environment for a business.
For example wholesale purchasing of food from individual or collective farms and subsequently selling it by retail is rather a simple thing, but it requires a lot of physical labor (driving around, meetings). Not everyone is able to endure so many business trips and negotiations. Then the entrepreneur, having no time to manage all aspects of their business, decides to engage hired employees. They have to share profits with them, and at this point it is important to balance the expenses, in order not to go bankrupt. Lack of profit or, even worse, loss of money is bound to cause disappointment and break your entrepreneurial spirit. Making profits is the main purpose of any business.
If an entrepreneur, does not set him- or herself the goal of making profits, but is trying to fulfill the desire to be appraised by someone without relying on the final results, they will inevitably find themselves at a dead-end.
In the world of entrepreneurship success is estimated solely by the results, not the intermediate actions. After all, the winner is determined by the score. Remember that the people around are not going to judge every step you take.
Admirers, critics and analysts – everyone who is ready to buy the fruits of your labor and call you a successful entrepreneur, will appear only after the results are reached.
If there are no results, everything seems pointless and you find yourself face to face with your failures. It does not matter that the failed entrepreneur was an art patron, that they helped the weak and the poor, the authorities, the security services, or the city administration: they become a “nobody”.
In case a company collapses, a good lathe operator or a baker will always find a new employer. Hired workers have it much easier: they collect diplomas, ranks, titles which have an impact on their competence and the rate of remuneration.
As for entrepreneurs, they might not find their path a second time, having no qualifications, no ranks and no titles. There have been numerous examples in history when owners of great fortunes went bankrupt and found themselves on the margins of life.
Nevertheless, surely everyone has the right to go back to entrepreneurship. A potential merchant or industrialist may return to business even after taking on the role of a hired worker. If a person is aspirational enough to dream of becoming a member of the royal family, getting a title of nobility, earning a fortune of billions, then ambitions supported by the abilities and extremely hard work will help him or her to reach the desired level, or at the very least pave the way for his or her children. That is what happened to Ford, as well as many other well-known European and American entrepreneurs. But 99.9% of people who start their own business do not focus on such ultramundane goals. Maybe, they should: sometimes the impossible is possible!
As a rule, going back to being an entrepreneur after a failure is much harder because of the looser label, both an inner, psychological and an outside one. This is another reason why it is not worth going back into the area where you once failed. Of course, there are exceptions to this rule, but there are few of them. It is better and safer in every way to drop out of the game prior to a total meltdown which will give you a small chance of recovering in a different field, either related or opposite.
Business growth, occasional bad luck and even state of instability – these are equally constant elements of entrepreneurship.
Business is more demanding that sports, it is better to give up bad habits and hobbies at the very beginning of your business career. Your regime becomes totally dependent on your work and is no longer regulated in accordance with the orthodox eight-hour working day and a five-day working week. Business takes over all of your free time, especially at the beginning. The environment where a leader finds him- or herself after becoming an entrepreneur requires mobilization of all physical and psychological abilities. This is something that not only a burgeoning entrepreneur, but also their close ones should be ready for. One should not expect to stay afloat working half-steam. This would mean fooling yourself: there is no such thing as half-business.
I have mentioned before that when the business environment starts devouring all the time an entrepreneur has, he or she inevitably hires other people to boost the production and sales. But it will not get any easier unless you concern yourself with the HR policy, get to know more complicated accounting techniques and arrange the production system. In this case it is very important to perfect the schemes and mechanisms of profit-making in the face of the growing expenses (salaries, the amount of rented facilities, transport, etc.). Theoretical knowledge given at colleges and universities is not enough. Until the aspiring entrepreneur fully understands the entire mechanism of controlling overhead expenses in the course of the production process and gains the first profits, they will never get the feel of how their business is functioning. Evaluate the advantages and disadvantages of certain steps you take, dispose of the first and increase the second. And even if the business is growing successfully, one should never stop developing it, otherwise the vector of luck will immediately go down.
The job of an entrepreneur is an endless row of events and struggles. If you are truly interested in business, you should accept a simple truth: entrepreneurs virtually exchange their time, their loved ones and themselves for what they do and love.
Being a “composer”
Becoming an entrepreneur is not something one can do effortlessly. But what you can do is grow into an entrepreneur following the rules of the consumer market and at the same time breaking them. This is something that only people with non-standard abilities and way of thinking can allow themselves to do.
The crucial quality of a future entrepreneur is the ability to “compose” the process. An entrepreneur must be a “composer” or aspire to become one.
It is great for a burgeoning entrepreneur to combine the qualities of a “creator” and an “organizer”. A businessman must not only be able to “create a melody”, but also to “organize” its production and marketing moving from the handicraft stage to the stage of modern structured production.
Creativity, aimed not only at producing goods and services, but also at their marketing is the cornerstone, or one might even say, the philosopher’s stone of entrepreneurship.
Many examples of success on the market are based on exceptions, and it is those exceptions that modern gurus use as the basis of their training programs in business schools. However, the reality of business is way beyond the examples of Coca-Cola, McDonalds, Microsoft, Ford, Trump or Steve Jobs.
The overwhelming majority of aspiring entrepreneurs do not understand how one can create such a miracle as the Internet, or to build a company like Apple, Facebook or Skype.
Entrepreneurship is a daily routine full of headaches and hard work which very rarely turns into a celebration of an unexpected financial success. Moreover, success must never be a one-time thing, but a matter of years and stable growth. A business process can be compared to an escalator that only moves downwards. Want to be successful? Walk upwards. Want to get ahead of the others? Run without stopping.
So, your business has taken off, you reached your first success – you allow yourself to buy an expensive car and an elite house guided, at times, not only by your own desires, but rather by the established traditions…
A villa, a yacht, VIP-resorts, exotic countries – out of fear to lose all that the entrepreneur holds on to the steering wheel of their business