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BUSINESS START-UP BEGINS SUCCESS/FAILURE COUNTDOWN

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

 Many entrepreneurs who are just starting out do not realize certain dynamics that are present. Some are dormant, some are lying in wait, but all come alive once you start your business. Oh, you have dreams and visions and mean well, but there are some vicious statistics awaiting you in regards to failure.....

YOU GOT 6 MONTHS.....MAKE IT COUNT

Most businesses go under within 6 months. They either run out of money, or their planning fails, or they fail period or they fail to properly execute their business plan....the list is endless on how to fail...thus the famous entrepreneurs "elephants grave yard" where all great ideas go to die....

THE OPERATION WAS A SUCCESS.....BUT THE PATIENT DIED.....

I have started numerous different businesses from scratch on my own. I have worked for corporations and small companies. The rules to succeed or fail are no respecter of persons.....You gotta fight for your right to live and operate in the business world and do it on the clock and in the real

Every business person who has ever started a business is hoping to find the formula that sustains them and keeps the doors open.

Everyone means well. They feel good and get excited. Their family and friends support them and if others can do it, so can I.......is their mantra. Add time, money, inexperience and well meaning....and you will get an answer to the question of.... WILL I MAKE IT ?.....perhaps one you were not expecting to hear.....

START-UP.....THE COUNT DOWN

You are on a countdown to fail/succeed from the day you launch. Things come against you not singling you out mind you, but testing your abilities to survive. To see how bad you want to have this idea take hold. They will test you to your limits:

  •  Your competition is watching you and imitating your moves. They want you to fail....quickly
  • Your money to pay bills, salary, and expenses is vaporizing. You will need income at some point.
  • Your product or services have to be tweaked and perfected constantly until they can fly solo.
  • You have to monitor and manage your affairs daily, weekly, monthly, until they stand up on their feet. THINK: Hands on....Beat feet. Anything less than this......the doom clock calleth for you
  • Your idea's are going to be tested. Be ready to make changes or stand your ground. Wont know which one until you get there. Lower prices...? Stand firm..? Up the ad expenses..? Better signage? .....endless
  • Wild cards exist like...bump in insurance rates, bad locations that looked good, economy failures, acts of God, neighborhood dynamics, competition, cost of goods, and people just don't agree with your version of what you-are doing. The legend in your mind vs the legend in real time.....which one will prevail..?

DISTRACTIONS ARE....... THE KISS OF DEATH......

Spend too much time on anything (good or bad) other than your business and you will find yourself risking unnecessarily. You must stay focused, driven, and on track with your idea no matter what comes up to pull you a way from it. Can you finish what you start? Can you beat the doom clock...? Everyone says yes,...... statistics say NO

MAKE FRIENDS WITH ......SWEAT, DONKEYS AND DOGS....

Because you are going to have to work hard and long even after you are tired. Every business that enters start-up is going to find out a lot of things very quickly. How you respond will determine whether you beat the doom clock or it claims you as another statistic. Every business you see and pass coming and going says..it can be done. The rest is up to you

 

Comments (8)

Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Very good post Richie. Atarting a realestate business is a huge venture and sometimes takes years to really make it work. One way to help is mabe such an active member on AR.

Thanks for this info.

Noah

May 03, 2013 12:04 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Noah...yes to your commenting and finishing what we start is the real challenge....

May 03, 2013 12:15 AM
Beth and Richard Witt
New York, NY
The best Retired Brokers !!!!

SAGE ADVISE AS ALWAYS... i LIKE THE WHOLE THING BUT ESPECIALLY LIKE THIS TIDBIT...

MAKE FRIENDS WITH ......SWEAT, DONKEYS AND DOGS....

 

May 03, 2013 04:36 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Beth...my little light....be well

May 03, 2013 06:24 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Richie I completely agree, especially the focus.  The focus has to be completely on the business until it shows life.  I that commitment is not there, then don't waist time, and money.

May 03, 2013 07:11 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

George...The whole post in two sentences...well done George...You have a $50.00 credit at Richie's General Store & Post

May 03, 2013 09:26 AM
Pat & Steve Pribisko
Keller Williams Greater Cleveland West - Westlake, OH

Richie, well said.  My favorite quote from this blog is, "Spend too much time on anything (good or bad) other than your business and you will find yourself risking unnecessarily. You must stay focused, driven, and on track with your idea no matter what comes up to pull you a way from it."

May 03, 2013 11:21 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

P & S....I like your snippet in your comment too...It is a loaded and meaty statement and quite possibly the core of it all

May 03, 2013 11:22 PM