If you want to be an Entrepreneur, you have to be ready to fail. Failure is part of what you go through a lot. It’s like when you’re dating. You date person after person looking for that perfect match, but you’re going to have failed relationships until you find it. And oh, by the way, even the perfect match may be destined for a failure… but we try not to think that way.
As an Entrepreneur we are looking for opportunities to make money. Can’t find any opportunities you say? Hundreds pass by you every day, you just have to be tuned in to be looking for them. So be on the lookout. You could read business magazines or books to help you get tuned in. Just make sure you make yourself aware.
The problem then becomes choosing the right opportunity, because once you choose you will find 10 more that may work even better. You could be methodical in choosing which one to pursue, by evaluating the market and surveying potential customers. It is probably a good idea to do this, but sometimes the best opportunities look a little weird in the beginning, then develop into great products or services.
Take the leap and select an opportunity, which I will assume is a product or service but it may also include methods of marketing or a new way of doing an old business. Ultimately though you are selling something, so spend a little time and or money to attempt to sell your product or service, and get feedback from potential customers. Make little changes based on the feedback you get and try again. Ultimately you will find out if your product is worth continuing with. Perhaps it’s not… then it’s time to move on to a different opportunity.
You may go through several different opportunities, or perhaps you will start and fail at several businesses, before you find the magical combination that creates winning growth. Keep at it because you will get there. Just remember that you only need one success and if you try and fail enough, you will try and succeed at least once.
One important thing to keep in mind: Because you will need to be able to fail, you don’t want to bet the farm on your opportunity. You always want to have a fall back in case things get bad. Then you will be able to build up some money and try again. If your failure leaves you flat broke it will be very difficult to start again right away.