If ever anyone ask me to describe our current era in one word, my reply would be “ENTREPRENEURSHIP” and I am quite certain that most of you would say “I agree”
A word, which has truly changed the complexion of our modern day global marketplace.
The world (as we speak) is no longer a bi-colored canvas of small & large enterprise companies. Every passing moment, some or the other person is creating the next billion dollar idea which could possibly cause serious disruption in the way we were planning our business.
While, most of us think (and some believe) that our idea has the potential to become the next Facebook, Google, Alibaba or Amazon but very few people actually spend time in crystal gazing into the idea’s future.
It is a lot like visualizing bond movie’s starting action sequence or planning your moves in the Chinese Checkers game. You go 3 steps forward in your head and get airlifted to see how the idea looks from the top.
Remember, the person who is investing his money in your business idea wants you forecast not just the profitability but also get him a sneak peek into the near & distant future. That’s why I said it is a lot like crystal gazing.
The exercise I personally recommend to every budding entrepreneur, is a lot like formula 1 race track simulation where the driver races the entire track in his mind just to get accustomed to the track.
As a startup business owner, you need to see every twist & turn (how you would operationalize the idea? what would be the day 0 of your new business?, from where would get that first deal? how would you reward your employees and make your customer your best friend? ) in your business idea even before you are actually in the race (acquire funding).
Some investor are not just interested in knowing how much return the business will offer, they are interested in knowing how will you do it? The return on investment is non consequential if the path to success is not carved out properly.
Since your idea is your dream, your need to bring your investor into your dream and that would be possible only when you have done some serious crystal gazing.
Remember, being a visionary is of no use if you cannot show the path to others.