I've recently been making a lot more time for hanging out and talking to other entrepreneurs, all in various different stages of business and with differing experience and results. Being around like minded people is critical.
I was speaking with a good friend of my AJ who is a little younger than me, but has built a number of web businesses (together with his brother and business partners) and is on a path to serious success (how dare he). Maybe we can talk more about AJ's background later but lets just say he could write a book about his experiences and inspire a whole generation of others as to what is achievable in business.
As someone who is just starting out in business, he had some interesting points I've remembered and thought I'd impart. I'll paraphrase this as best I can. You'll get the general gist anyway.
I'm currently researching a good product to sell, and this process could take a few more weeks until I've found something that meets my requirements. I have financial goals for the next 12 months (and 2,3,4,5 10, 20 years) and I'm currently working on a few different options on how I can achieve those goals. One thing I must be careful with is being too overly analytical and trying to plan out the future.
Analysis Paralysis
AJ made the point that Analysis Paralysis can give you the impression that you are getting somewhere, where in fact what you really need to do is take some form of action. Perfectionism also has a part to play here as you search for "that one thing" whether it be a great product, or the best time to quit your job, or the best business to get into or whatever. Having a plan is important (and downright essential), but mapping out exactly how you would like things to go is unrealistic and an attempt to simplify/control your future.
Businesses don't exist in a vacuum, they exist in the real world and for the purposes of this discusison they could be called 'organic'. Unexpected situations and opportunities present themselves that cannot be foreseen, and will inevitably create changes to your business that you coudn't have imagined in years of planning. It's just simply unrealistic to plan out how all the steps are going to unfold. Be mindful of that.
If you're optimistic then you might think unforeseen circumstances could bring great and unforeseen opportunities. Those who are more guarded may prefer to err on the side of caution, and not take action for fear of loss.
If there's one thing I took away from our discussion, it's that you really need to focus on doing something, getting active, even if it means making a mistake. We're all going to make them. It's a necessary part of learning. I'm not saying be gung-ho and just go out and do anything, but the point that AJ tried to impart is you won't be able to plan out everything perfectly.
All decisions are made on insufficient evidence.
Rita May Brown
Baby Steps
The key takeaway here is to start small and take baby steps. Do something. Don't do nothing and succumb to analysis paralysis. Don't try to plan out everything before you get started. Your plan will inevitably change anyway!
