Startup Now!

There is no time like now. Remember that every day without revenue puts off the moment of becoming an entrepreneur. Of course people in some places have it better than others.

Whoosh! Have you ever watched an owl sitting on a branch surveying the scene? If you have had the delight of seeing the owl decide to fly off, you will probably have heard that whoosh as the wings open and take the bird into silent and purposeful flight. There is no doubt or hesitation. Startup now!

It may be one simple step, like incorporating the company or printing a business card, but take that step and feel yourself in flight. It is not a matter of, "I am going to start a business." It is, I am in business."

In many industrialized countries it takes only hours or days to become established as a formal business, whereas in some less fortunate countries it can take years. The top ten countries are: US, Switzerland, Denmark, Sweden, Germany, Finland, Singapore, Japan, UK, Netherlands.

But wherever you are, do not rationalize why you are not ready. It is no surprise to know that there are 6 million people in the US thinking about starting a business at any given time, but none of these excuses should get in your way:

• no money, poor credit rating, market conditions
• product not perfect, no patent, selling is daunting
• time pressure, family constraints, I do not know how...

If you are going to do it, nothing will stop you.

The research study, The Economic Future Just Happened, answered the question, "What effect do recessions have on new firm formation?" It analyzed data from the U.S. Census, the Fortune 500, and the Inc. list of America's fastest-growing companies, presents three main findings:

1. Recessions and bear markets, while they bring pain and often lead to short-term declines in business formation, do not appear to have a significantly negative impact on the formation and survival of new businesses.
2. Well over half of the companies on the 2009 Fortune 500 list, and just under half of the 2008 Inc. list, began during a recession or bear market. We also find that the general pattern of founding years and decades can help tell a story about larger economic trends.
3. Job creation from startups is much less volatile and sensitive to downturns than job creation in the entire economy.

Strategic Thinking

If you are not thinking strategically, your business is not going to survive. It is as simple as that. You may have got the best thing since sliced bread, but if there is a huge trend away from bleached wheat, maybe your bakery will go bust.

It is not just about using your powers of critical thinking and having the best market research in the world, but you need some flair and 'smarts' too. Read more about strategic thinking and the techniques to use...

Purpose & Goals

Examine the source of your motivation. It is a matter of peeling back the layers to be really sure of your goals. "This is a great idea," you may tell yourself and others. But does it fit the purpose of your life? The question of purpose is far more than body, mind, ego—or wallet. You could ask yourself what you want to be when you grow up. Your business is doomed if it runs counter to your deepest motivation.

A clear business vision will tell you if you are on the right track, while. at the same time, business is a track that you discover as you act. Remember the Japanese proverb, "Vision without action is a daydream. Action without vision is a nightmare." Read more about purpose and goals...

Value Proposition

The Value Proposition is a key to validating your business idea. It will answer two vital questions: What is the customer problem that your business will address? How will the customer get value from your solution?

You need to define the value proposition of your business at the outset. Do not skip this step.

Doing it now will save you headaches later, as well as being important in the preparation of both your business plan and your marketing strategy. Read more about the value proposition...

Business Model

The business model describes how you are going to make revenue in your new business. How are the pieces arranged so that your wonderful idea is transformed into a reality that works and makes money.

You business model is key to your success. Inventing a better mousetrap will not do it for you. Can you create a disruptive business model that leads or creates the marketplace and keeps you out of the fiercely competitive space? Read more about business models...

Ends and Means

You will want to align the means by which you want to achieve your ends. If your way of doing business is at odds with your purpose, you will be quickly found out.

This alignment is like creating a magnetic field to draw all the diverse parts of the business together making the whole irresistible.

If your only purpose in setting up in business is to make money, my advice is that you will have a greater chance of success by some other route than business startup. Read more about the ends and means of business startup...

Urgency & Momentum

You should feel very pleased that your business is off the ground. This is a major achievement in itself, but now is the very moment not to relax.

if you don't maintain a sense of urgency and continual momentum, all that planning will have been for nothing. Easy to say, hard to do, especially since it concerns not only you, but others, too. Read more about maintaining urgency and momentum...