Monday, June 2, 2008

Entrepreneurial “procrastination” – easy to be a victim

The first proof of the preacher himself committing the sin is my inability to do a Blog in recent weeks – shame on me for procrastinating!

Now back to preaching…

Procrastinating on getting to revenue equals sudden death.

Recently an entrepreneur passionately indicated that they have potential customers that are willing to buy their product NOW, but they are holding back until they raise more capital! because they are concerned about the growth and how they can control it; they have seen this before as they claimed.

Upon further investigation, it became clear that the product works, there are no technical reasons for delay, and that the customer is actually willing to pay a portion of the fees in advance; which can support staffing and internal expenses. This conversation has bothered me to the point of motivating me to write a post (thank god for the motivation!). So, I would like to remind some of my entrepreneur friends of the following key facts of entrepreneurship:

1. Avoiding a potential mistake, may be as bad as making a new mistake
2. A business is built on revenues not raised capital
3. The more of the company you keep the better off you are!
4. Before you control growth you should experience it
5. Risk is a part of life.
6. Fear of failure is as BAD as if not worst than fear of success
7. There is a thing called “competition” , while you ponder they are executing!