Jason Bernic | Executive Life Coach | Success Coaching | mail me |
In the face of a shrinking job market there has never been a more urgent need for entrepreneurship than now.
A new year is upon us, and as we grapple with the ongoing effects of COVID-19 on our lives and livelihoods – with thousands of South Africans having lost their jobs over the past few months – many people are looking at fresh new ways to earn a living.
However, it is unfortunately the case that many business ideas never see the light of day. Most great ideas remain dormant because people do not have the courage, resources, time and/or money to take action and turn the idea into a reality.
Converting an idea into a reality is never an easy task. In fact, it is extremely difficult as much is required mentally, physically, emotionally, and intellectually to go from idea to reality. As the saying goes, ‘If it were easy – everyone would do it’.
The only thing that will move an idea from thought to reality is the person themselves and the actions they take. There are a number of common barriers that potential entrepreneurs face early on. The first is feeling overwhelmed by too many ideas and finding it hard to pin down where to start, another is fear of failure, and this is a big factor. As humans, we have a natural aversion to risk which can make us resistant to trying if we think there is a chance we might fail.
Some advice for those who want to turn an idea into a money generating business:
- Take action. Break the big overarching goal of creating a new business into tiny little steps. I often ask my clients what the first, smallest little step is that they can take. The answer is usually simple and highly achievable, and it gives the person the confidence to move forward to the next small step. Then the next and the next.
- Have a vision and keep your vision clear at all times and believe in yourself. If you believe that you can succeed, you will find ways through different obstacles. If you don’t, you will just find excuses.
- Face your fears, take the risk, and challenge yourself.We never know the outcome of our efforts unless we actually do it. Walt Disney said, ‘Dream, Believe, Dare, Do’, however most people get stuck at the dream stage. Overcoming fear isn’t easy, but it must be done.
- To bake a cake, you need ingredients – and to bring an idea to life, you need resources. Some you will already have, whilst others you will need to obtain. It is important you do not use a lack of resources as a reason for not starting. Even if you need money, you can still get started – remember, small little steps.
- Know your goals and focus on why it is that you want to start this new venture. This is the fuel that drives you towards making your idea a reality and not giving up at the first hurdle. Is it a passion project? A service that is in dire need? For many entrepreneurs right now, it is a need to create a source of income for themselves and their families.
- Put some key checks and balances as well as systems in place that will help you move towards a successful outcome. What needs to happen regularly to turn your idea into a reality? Is it regular meetings with key team members? Is it working with a coach to challenge your thinking and offer perspective? By creating systems, you make the process easier and allow a consistency for ensuring things get done.
Some key points and personal characteristics that turn dreams into reality:
- You need to have passion towards the idea – to explore and pursue it, to talk about it, to run it by others and to receive feedback.
- Faith and an undying belief that the idea can make a difference in the world and in your own life is important. You cannot truly back something if you don’t believe in it.
- Courage is required to pursue the idea and to take personal, professional, and financial risk in pursuing it.
- A willingness to give the new venture your all until it flies (or even possibly fails) is also key.
- Successful entrepreneurs are always upskilling, learning, researching, and reading to better their own knowledge and skills and develop themselves personally.