Several businesses are often years in the making before finally getting launched. This is partly due to entrepreneurs trying to find their path and offer a product or service they are truly passionate about. Once they find their direction, it can still take some time to get the company off the ground. Dr. Constantino Mendieta explains why starting early gives you a strong advantage.
After you have a concrete business idea, you should take the time to develop a comprehensive business plan, according to Dr. Constantino Mendieta. This is literally your company’s blueprint and your step-by-step guide to building your business. Once you have a business plan, you might need more time to execute each section. When it comes market research, the internet and social media have made this easier than ever. Just don’t take any shortcuts in this critical step; dive deep into the readily available resources to gather as much information as possible.
Dr. Constantino Mendieta’s next advice is to continue to “tweak” your product or service as you work on the above-mentioned items. Very, very rarely do entrepreneurs get this right the first time. It usually takes several iterations before your offering is ready to be deployed to customers. Some products can take years to perfect. Don’t rush research and development, as the last thing you want to do is launch something before it is ready.
Lastly, according to Dr. Constantino Mendieta, getting an early start in your business means you are preparing yourself for what the journey entails. While it might seem glamourous from the outside, entrepreneurship requires a lot of hard work. Get ready for long days, financial stress, dealing with customers, and solving problems as they arise. He advises that you learn everything you can about launching a business before you embark on this path.
Entrepreneurship isn’t for everyone. For those who do find success in this path, it is due to getting a head start by preparing early. Rome wasn’t built in a day; your business won’t be either.
