It is everybody’s dream to own a business; at least to relish in the satisfaction that comes with it. Thanks to capitalism and its unfettered driving force in almost every part of the world. No one can stop a determined person from achieving his business goal on the land where private ownership of properties thrives. The only constraint is your own sense of incapability.
The spirit of enterprising is a virtue that comes to those with focused minds. It is attracted to individuals who have certain measure of risk tolerance and discipline and so shall it be. It is not easy to see your business struggle under your watch; your time, money, the cost of lost relationships, the trust of friends etc. all written to zero.
Entrepreneurship is a journey pursued by individuals who have firm grips on reality, discipline and tenacity. Despite the challenges that come with starting a business, it’s really good and relieving to own a business. This is a natural test that helps to categorize the working force into potentially wealthy individuals and ordinary workers. On the continental level, we see countries wobbling under the burden of development whereas others take it as mere sports.
There are coming days in our country, Ghana, where virtually nothing would be controlled by the indigents if majority of us only cleave unto only pay slips. It is becoming the fact that almost every big business in Ghana is wholly owned by a foreigner or at least with a major stake. There are compelling economic reasons to accept this development; however, we wouldn’t want to have an economy where our incomes and job security are controlled by people who less understand our pleas. Would you? This is why you should allow entrepreneurship to take captive of your mind and heart as a student, employed and unemployed.
Start now regardless of your status and continue to improve. One may ask; how do I start a business without funds? Yes this is a genuine question. Without money, your idea is a mere intent even if there is proven viability. Arguably, some people refuse to see this as a challenge on the grounds that a good idea would always get funding. The reality is that there is no good idea and the success tendency of every business depends on the quality of execution and the availability of funds to carry out the strategic intents of the idea.
Funding startups are not mandatory and hence falls short of the focus of our mainstream financial institutions. Investors, even risk loving ones, need a thoroughly validated business idea purged from any mistake and farther from failure before dolling out funds. This is a heavy demand on the budding entrepreneur. One may decide to fall on savings, friends and families and bootstrapping to start. This is good in that it creates social capital and contracts all of which bind you and fuels your tenacity. The only issue with this is that it is often slow in terms of the needed amount and time.
Moreover, when the idea fails one becomes worried about the reaction of the friends and family; that why it is a social contract. It breaks down your tenacity and also slows your idea experimenting binge. “Too often we hear phrases and statistics like 6 out of 7 new businesses fail within 5 years. But we forget that entrepreneurs find new and better ways to do things through their failures. Someone might have a very simple business plan and lots of backing and they make a few bucks each year. That’s success. But had they failed, they may have taken a longer look at their business plan, looked deeper into their purpose and come up with something that is even better. Failure is not the end. It is simply a place to start again”. This opinion by one colleague entrepreneur is a fact. The moment one comes to accept entrepreneurship as a serious game to learn from failures, the better and the more successful one becomes.
But the real question is should one experiment with his hard earned money, resources of friend, churches and investors. Here is the cross roads which calls for a more radical solution. Every start up is a seed with hope to grow and become a tree and produce fruits. It can happen quickly or slowly depending on the caliber of the people at the heart of the execution. The times where an individual single handedly builds a business from the scratch is phasing out. Our increasing harsh economic environment is taking away this glory from individuals and giving to teams; not just any group but teams with exceptional dynamism.
After all when one builds a business, He will need an experienced management team to grow it and with time this business would go public which also means the relinquish of the one-man ownership status.
The modern entrepreneur should therefore experiment with TEAMS; mostly with like-minded individuals with experience from different industries. Building a business with teams has 70 percent chances of succeeding. With this, risk of failure is shared in terms of forgone time, money and other bootstrapped resources.
The greater the teams number the better; every partner or associate has a genuine interest in promoting the success of the business. On this premise, let me introduce to you a revolutionary idea for your team called CROWDINFUND.
CROWDINFUND is a network of entrepreneurs with the vision to bring budding entrepreneurs together to build and grow businesses. The focus of this institution in it pure form is to serve entrepreneurs with the tools to quicken their start-up process. If you understand the essence of team’s effort in business, then CROWDINFUND is a major breakthrough for building your business with your team. If you are also looking for a team to start a business, theAssociation has more than poised community of entrepreneurs who are willing to team up to collectively give life to any idea.
The funding strategy of the Association is unique and expedient. It is a collective funding platform devoid of stress and cost of raising capital. You can read more about CROWDINFUND. Make sure you take action to enjoy the privilege that comes with the membership of a community of thinkers, executers and leaders. This is a revolution!