The range of problems (and opportunities) that founders confront is vast, but entrepreneurs can only tackle few of them at a time. This is why a clear strategy and guidance is so important in order to prioritize and distinguish critical issues from normal pains.
Improvisation takes a venture only so far. To make it sustainable we need a clear strategy that accurately defines not only the companies goals but also your personal aspirations.
1.- Define why do you want to launch a business: Reasons can be very different: create value for society, make money quickly or build a sustainable company, a flexible lifestyle, etc. The identification of those reasons is very important to determine the kind of business you are creating and the resources you need to get it. It will also help you to define the risks and sacrifices we will face and define the skills we need to make it work. A good and deep understanding of ourselves will help to define those goals.
2.- Define how: What is the strategy and the personal skills you need to get there. The strategy should integrate both the entrepreneur’s aspirations with the needs of the company (resources, geographic reach, etc) and ensure that the company will be able to generate the desired business results. In that sense, establish the right growth rate is very important.
3.- Back to reality: Once your goals and the strategy is defined ask yourself: can you do it? Do you have the resources (workforce or a team with the required talent)? Do you have the infrastructure to make execute your strategy? If the answer is no, how are you going to solve it?
Becoming an entrepreneur impacts all your life and, if you have a family, it is important that your husband/wife/kids understand also the risks and are aligned with your vision. You will need a lot of support from them. The world is full of opportunities, you only need to choose the right one for you!.
It is an amazing journey. Enjoy it 🙂