The Psychology of Starting A New Business
Entrepreneurs are creative individualists with strong forward looking ideas and “out-of-the-box” mentalities. Nevertheless, those assets that serve to foster the creation of new business models and concepts also prove to be liabilities when it comes to business implementation and management. To transition from the creative stage to the systems and management stage often involves the necessity of both a shift in personality as well as a shift away from an individual approach to a team approach. Being more individual and self-oriented, entrepreneurs often find “team-building” difficult. Part of the reason for this is the fact that a collaborative approach to building the business often involves some loosening of control as well as sharing of opinions and business strategies. The fact remains however that all successful entrepreneurs can and have made this transition in building their businesses.
To ease the shock and make the transition more natural and seamless, it is always preferable to start off with a team approach. Having legal, accounting, internet marketing and other professionals on your team to guide you from the beginning of your business is an invaluable way to avoid common mistakes typically made by new entrepreneurs. Moreover from a psychological standpoint starting off with a team approach lessens the difficulty often experienced in inevitable loosening of control and need to delegate that comes with business success and expansion. To the extent building a new business can be likened to the construction of a building, the establishment of your initial systems, employment positions, advisors and initial marketing relationships and strategies all can be equated to the building’s foundation. Without a strong foundation, any building will not endure.
Accordingly, it is vital that you as a new entrepreneur understand that although your business may be about a new product or a new concept in some industry or even as simple as your grandmother’s recipe for meatballs, its success is really about the people with whom you surround the product or concept. New ideas, products or concepts do not manufacture, manage or market themselves – people do. Thus, it is vital that when you are rolling out that new product, concept or idea you do not lose sight of the need to surround it with the proper people that can nurture it, manage it, market it and protect it from the legal and accounting shoals that lead many a new business to shipwreck. To that end, Charlip Law Group, LC can assist you from day one in charting a clear course to success. Contact us for all the ways we can assist you!