We all have brilliant ideas.
During our graduation days, most of us had ambitious dreams of bringing some severe change in the world around us with our unique and innovative ideas. We were young and vibrant with energy. The adrenaline rush pumping through our bodies was incredible.
Then, finally, we wanted to do something on our own. We had ideas, and we spent hours talking about how we could convert the concept into a full-scale business.
We wanted to control our fate and be our boss.
Most of you can relate to the above statements. But what goes wrong with those ideas? What is the outcome of all those sleepless nights spent planning and plotting?
Life happens! Responsibility increases.
Most of us even struggle to make ends meet. Spending hours planning for an uncertain future is no more a luxury for us. Our energy and enthusiasm dip down along with our ambitions and aspirations.
Yet, business ideas remain the wishful thinking of our youth.
However, today’s generation is a lot more proactive than us. But why? The world is no more the same as it was during our times.
For instance, the pandemic has witnessed an unprecedented rise in new startups and young entrepreneurs. But on the other hand, lack of job opportunities, rising unemployment, and economic instability have pushed many young people to find an alternative way to make money.
And entrepreneurship is one of the most promising ways out of the hell-hole. These young graduates are full of ideas. They have an undying passion for bringing changes in the existing status quo.
Even then, not all great ideas make it to the table. And most of them are relinquished at the ideation stage for want of resources, experience, and knowledge.
Many unique ideas end up in the cemeteries alongside their creators. Like it did with us.
Steve Maraboli once said, “Cemeteries are full of unfulfilled dreams… countless echoes of ‘could have and ‘should have ‘… countless books unwritten… countless songs unsung….”
As he said, our hearts are filled with countless echoes of ‘could have and ‘should have.’ If we had focused more on ‘haves’ instead of ‘could’ and ‘should,’ then maybe we would have had a fulfilling life.
Yes, entrepreneurship is not an easy task, but it is not an impossible one to accomplish. Steve Jobs did it, and so did Mark Zuckerberg. But, we didn’t try, like zillion other ‘could-have-been’ entrepreneurs. They are ordinary people – just like us.
Do you think successful entrepreneurs were blessed with extra stars?
No. Instead, they dared to face failure but didn’t dare to give up. And they didn’t.
That’s what we are going to explore in this article.
Then, finally, we will understand why great ideas end up in cemeteries and how one can salvage them from an inevitable oblivious state.
Reason #1: Fear of the Unknown
It is one thing to talk about inspiring ideas. But, it is an entirely different thing to live that idea. The fear of the unknown has always prevented us from treading uncharted waters.
However, we did forget that we are humans, and humans have come a long way from our ancestors because they dared to explore the unknown.
Do we wonder why there is a lack of courage to try new things? Why do people lack the courage to chase their dreams?
It is the fear of the unknown.
But, unless we try to explore the unknown, we might never have the courage to get a taste of better things in life.
However, most of us are okay with living 9-6 hours of monotonous corporate life. This is because we get a certain fixed amount of money at the end of every month. That money is utilized to pay bills and other expenses.
We believe that quitting the routined life and jumping into something new scares most of us. That’s because the fixed amount of money will not come to us quickly. And, with no money, there will be endless challenges.
Not wanting to give up on your monthly salary is the root cause of our lack of interest in trying something new. Because we fear the unknown endeavor might not turn out to be fruitful. And we might not make any money at all.
Yes, the chances of failure are immense.
But, unless you try, you will never know whether your bold step pays off well or not.
We agree that living penniless for a month or two or even more does sound scary. But what if we get some financial support from somewhere else? Then taking the risk will not be as risky as it sounds.
At least you won’t be dying disappointed.
If money is the primary concern, find a way to support your financial needs momentarily, make adjustments, cut down a few expenses here and there, and focus on your business.
Try once, fail twice, try again – who knows, your business idea might kick off into a promising future.
Reason #2: Lack of Knowledge
This significantly hinders turning an incredible idea into a profitable business.
And that is probably one of the crucial reasons why so many of us never thought of going beyond the ideation stage with our ideas.
Finding an idea might be one of the most straightforward tasks of all. But the stages that follow can be overwhelming.
Putting the idea into a proper business plan, creating a winning business proposal, and executing the plan into measurable actions sound easy.
But, in reality, that is highly daunting and crushingly difficult.
However, not impossible.
Then again, questions like – ‘What’s next? Or where should I begin? And, how should I begin,’ will worry us and give us sleepless nights?
That’s because we are inexperienced and lack knowledge about taking the idea to the next stage. So we lack the experience to launch our business and forget about running it.
Some entrepreneurs have successfully launched their businesses with minimal experience and help. But not all of us have what it takes to become a successful entrepreneur overnight. And, that too all by ourselves.
That’s okay. It’s okay to seek help from experts if you need it.
Reach out to the right people who can help you or guide you through the initial stages of entrepreneurship.
Spearheading the launch of a business and running it successfully is arduous. You will need help. So ask for it.
Companies like Project 10K help young entrepreneurs fulfil their dreams of running their businesses. So reach out to them and get the job done. Don’t allow your idea to perish just like that.
Reason #3: Lack of Resources
Yes, this is yet another hindrance most of us face when we attempt to convert our intangible ideas into tangible and measurable actions.
Resources can be money for capital, tools, or equipment to implement our ideas into products/services and a strong team to delegate responsibilities.
But, of course, resources can also be in terms of inventories.
Money is one of the essential resources. Once the money problem is sorted, the rest of the requirements will fall into place.
Then again, money should not be a hindrance if your services are solution-based. If you offer solutions instead of products requiring packaging and delivery, you have cost-effective means to take care of your project.
Here comes your want of knowledge. But, even that can be addressed.
All you need to do is launch a prototype of your product in the market and get customer feedback. Then you should start adding features and making changes as per requirement.
Well! If you are unaware of how to develop an application or a virtual platform, you can always cite the help of software developers.
Reach out to them in your network instead of hiring a development company. The latter will charge you more for a half-baked cake.
So the network is essential. Build solid professional connections online.
Of course, there are platforms like LinkedIn to do that. Convince a developer from your network to work alongside you on your idea.
If that prototype garners enough attention in the market, you both have a product to sell and a business to run. So make your developer your partner, and enjoy the roller coaster ride together. How about that?
Or, you can approach tech incubators like Project 10K, as mentioned above. The idea will be yours, but resources and efforts will be of Project 10K.
The company has a target of launching 10,000 tech startups by 2031.
You have to do a lot of homework and research the market properly to figure out where and how you can get all the help you need.
And, as we say, fail thousands of times but try even more. Learn from your past failures, remember the lessons learned, address your shortcomings, and try a new perspective and approach.
Success is bound to be yours.
The bottom line is…
You are bound to face innumerable challenges whenever you explore unknown territories, and you might have to confront powerful adversaries. But giving up for fear of losing everything is a cowardly act.
Learn from the mountaineers for once. They have accomplished the most challenging task of climbing and conquering the most formidable peaks of all, like Mount Everest. So many died on their journey, but the others never gave up.
No! Nothing can be as challenging as fighting the forces of nature and coming back alive from the jaws of death. Considering those daring mountaineers, you will find that starting a business is much easier and more comfortable.
Keep trying, and don’t allow your ideas to end up in a graveyard,
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