“You don’t know what you don’t know until you know.” Sometimes, it’s too late and at a cost. Darren Hardy, Publisher and Editor of Success Magazine recently stated in his Entrepreneur Roller Coaster book that in the next few years, 10 Million new businesses will be started by Entrepreneurs. This age is shifting from big corporate America employment to being your own boss, living and breathing by your own terms. He also stated that it now costs a fraction of what a start-up cost for a new company was a decade ago. So what are you waiting for? But wait, before you jump on that roller coaster and throw caution to the wind while screaming excitedly down the long, windy, twisty rails – get prepared. Plan, review, execute and pray. Plan how you see your new business blossoming and growing. Who will be by your side making your dreams come true? How long do you plan on riding this roller coaster business and finally, what is your escape plan? Praying is optional but believing in yourself and your plan is not.
Too many times business owners with great skills, ideas and/or energy start a business and come out battered, worn down and frustrated. Why is that if owning a business is truly an American Dream? Did they really mean “Nightmare” instead? On average, five percent have that figured out and do live the dream and pass on that dream to others fortunate to be around them. My take on this is simple: Study, read, mentor, love numbers, love people and know that the sucky part of owning a business outweighs the fun part BUT the fun, exciting part is so worth it. So, before you consummate a marriage (business), do your due diligence during the courtship and plan for a future divorce (exit strategy) and join the fivers living the dream.
Lucinda Stanley, CCIM
Grand Mesa Commercial Real Estate