Ideas are free and often plentiful. Entrepreneurship is gaining the recognition it deserves and has experienced a huge boom in the last few years – it seems everyone wants to be an entrepreneur these days with their “k3wl” startup idea. Business opportunitues, on the other hand, come from small business ideas that have been more thoroughly thought out and researched. An entrepreneur has to determine that there’s something actually missing to a specific market - something he / she is going to supply. This is where strategy comes in.
Do you have what it takes to be your Own Boss?
Sorry but successful people don’t care about your brilliant startup idea. Entrepreneurship aka the “funky” startups “agenda” that yield a lot of PR but very little startup success. A great startup idea executed poorly will not become a good business but an average startup idea with excellent execution can become profitable and fundable both. Thinking all the time, being super competitive, obsessive, can make someone rich! On the other hand it makes a person anxious, a victim of the money, it is all about entering this vicious cycle, no more coming back!
Entrepreneurship and Pakistani Youth
Today, as Pakistan sets off on the road to progress with CPEC, it needs the contribution of its young entrepreneurs more than ever! The Pakistani youth, with impeccable skills for planning and prioritizing, knows when to take a leap and grab the future. Unfortunately, due to lack of exposure and avenues of opportunities in the past, Pakistani’s lack innovation at hand. The following business model canvas is deemed fit to help those with a startup idea to turn it into something innovative:
In many respects the problem analysis is the most critical stage of project planning, as it then guides all subsequent analysis and decision-making on priorities.This business canvas is a great logical framework analysis tool.
If you can still ask ‘how?’ questions and not find the answer in the draft Logframe (with the accompanying draft workplan showing activities), then it is not complete. - Red Cross (2006: 23)
Demand is the first check point before launching any Startup Idea
Apparently it may seem that business success starts ‘With One Person, an Idea and a Passion’. It’s all about image and creating the perception that the customer ‘needs’ this new product, even if it is not an original idea. A ” need” out there creates a ” service” to embark on your project and market the ideas. Planting the seed of success will flourish. Unfortunately, we’ve seen so many people put the startup idea before the need and then try to manipulate the need to fit the startup idea!
1. Identify your potential and market worth in order to be able to set realistic goals.
2. Always take action, have passion, stamina and be positive when things go wrong. Fatal blunder at Oscars is just one example. Here is the list of actions you need to turn your workplace ideas into reality.
3. Don’t be afraid to fail, but when you fail don’t try to make excuses. Turn the chaos into growth.
4. Remember that finding the best practices is the 1st step to success. The 2nd is to follow them. Perform some market analysis and act on all positive and negative indicators.
5. Teams often encounter challenges that make them commit mistakes. Learn from your mistakes and if possible from others’ mistakes. This is the true gift of leadership.
6. Build your network of partners and always be trustworthy to them. Influencer Marketing is important to success.
7. Be the leader of yourself, be careful of mind games. Building consensus is important but don’t let others define your future.
8. Whatever you do, do it your way.
Ideas are no business. Results are!
Entrepreneurs retain significance only if they prove something. The rest is pure pretence. Don’t waste too much time worrying that your idea isn’t unique enough, take something existing and make it better. You should spend your cosmically finite and precious time working towards strategically and methodically pursuing your goals.
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