Business Opinions: The right startup

Mihai Chiratcu speaks about decisions and honesty when starting a business: “It is important to startup, but is more important to startup right!”

Over the past few years we have seen a new trend, particularly in the young professional’s circle. Young specialists decide that they will perform and feel better working for themselves instead of joining an organization. Being one of them I decided to share my initial analysis as it might help other making their choice.

 Before you make your first step and start your own business give yourself the answer to a few questions: what can I do, what do I like, what do my potential customers want. If you start by doing your homework about what, how and whom to it will not necessarily be easier to reach success but at least you will not lose time finding the answers the hard way.

One more advice will be to check out your competition. Unless you have a something that no one else did, try and choose your fights carefully at the beginning. Prove yourself first and go one on one with the big players in the market after. It might be a good idea to ask for advice from the more experimented people in that area or maybe even form a partnership with them. It might be hard to believe but true experienced professional enjoy helping young and passionate people as they remind them of themselves.

I believe that the diagram above can be a great tool in your analysis. This explains how to find the place on the market where you can be happy and at the same time make money.

The most common mistake most people do is just take into consideration only two of the three circles in the diagram when starting their business. If we look at the combination of only two we can easily see the following results:

1. If you are passionate about something and you are also very good at that but you don’t make money, that is a hobby not a business (kite flying is a good example I think)
2. If you are good at something and you can make money doing it but you are not passionate, well most of the times that is called a job
3. If you are passionate about something and you know that you can make money doing that but you are not good at it, we can consider that a wish. The good news is that if you apply yourself and get the skills required you can transform that wish into a business.

            See if you can find your role in the market, draw a plan and act on it but remember one more thing before you begin your journey: accept the fact that there is a good chance of failure and be sure this is the right move for you. Yes you have your freedom and need no one approval  for your actions but the other side of the coin is that you are 100% responsible for them and there are no more excuses.

            Statistics show that over 80% of start ups don’t make it through the first year but it doesn’t matter how many times you fall as long as you get up and move forward every time. And if you will remember only one thing let it be this “you will miss 100% of the shots you don’t take!”

         Mihai Chiratcu is an opportunity creator, trainer and free man. After 10 years experience in sales and business development, he is using the knowledge gathered trying to bring a new approach in training and business consultancy. He brings you every Thursday special information and gives advices through the section “Business Opinions”.