Millionare or Bust

October 19, 2006

So you want to start a company so that you can get rich quick….In the words of New Yorkers “forget about it.” You can’t wish your way to a million. It requires passion, a great and unique idea, capital and a bunch of luck and hard work. And, it takes time. So do you have what it takes?

Let’s start with passion. Do you have a fire in your belly for your product or service? Are you prepared to put your future on the line for that passion? O.K… good start.

Now, what about your product or service? Is it really different and better then other products or services currently on the market? Be OBJECTIVE!!!! Don’t kid yourself into “smoking your own exhaust.” Who says it is different and better beyond you and your family? Have you asked experts? Consumers? Customers? Can you deliver this product or service with quality and with scale?

Now if all that works, are you ready to make the plunge? Do you have sufficient capital to pull this off? Whatever your financial projections are, they are probably overly optimistic. What if you do not achieve your numbers in the short term? Can you ride it out? Is your business model realistic or just a dream?
So, the road to a million is not easy… if it were, everyone would do it. Are you up to the task?

More later….

Rich

Bizvice:  Strategy, Marketing & Entrepreneurship

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