Startup Wisdom

How long does it take to build a successful business is a question on some employees’ tips of their tongue. Only a seasoned professional who has walked the plank is able to tell it like it really is - the whole honest truth.

What I can tell you is an extreme amount of work. It takes years of ongoing effort, a burning passionate desire to be successful under any circumstances, an all-in approach that often kicks you in the butt, and vision in the belief that you’ve got what it takes to be a winner.

Winners aren’t born, but rather aspire to greatness. They need knowledge and experience. Then their ideas needs to be sound. They have to put a massive amount of effort to walk the tightrope to:

1.  Keep their balance, 2.  walk the distance, and 3. stay on track.

These three points sound simple, but as you already know, walking a tightrope takes skill to maneuver along for any distance. Imagine having to get from one building to the other, and the only thing between the buildings was a thin flimsy rope. Yes, you’d be scared, especially if it was 1000 feet above ground level.

Like a car, it won’t go the distance if it isn’t maintained, so that means changing the oil and filters at regular intervals. Then when things wear out, they need replacing. That’s when replacement spare parts are renewed.

There needs to be a plan. One that gets acted on with precision. Sloppiness causes mistakes to be made which doesn’t go hand in hand with a successful venture. A really prosperous business can take seven to ten years to perfect. If you are in this, it’s for the long haul.

As a small-time entrepreneur, I’ve always had to get a financial return immediately i.e., if you don’t have investment capital you have to make money quickly to survive. Many businesses close in the first year or two because the return on their investment (ROI) isn’t sufficient to keep the doors open.

Keeping overheads down is your best bet even if you have an allocated portion of your savings available for your startup. The last thing you want is to struggle and your savings to dwindle away. Often new businesses require the leader to do more than one job. Do it and economize, rather than waste money employing others for the sake of it.

Don’t misunderstand me, I’m not saying you should do everything because that would mean being tied up when you might want to concentrate on more productive work that makes the business successful.

However, due diligence is required to keep expenses down, especially if your funds are limited. Of course, if your startup has great potential, you could find seed money, by seeking angel investors.

The more you put in, then the more you pull out. Going the extra mile is your way of saying, “I won’t be beaten. There is too much at stake. Believe in yourself. Turn the page and go for it!

Take care!

Prof. Carl Boniface    

Vocabulary builder:

Walk the plank (idiom) = refers to a historical method of punishment used by pirates, and has evolved into a figurative expression.

Butt (n) = the fleshy part of the human body that you sit on. synonyms: ass, backside, behind, bottom, bum, buns, buttocks, can, derriere, fanny, fundament, hind end, hindquarters, keister, nates, posterior, prat, rear, rear end, rump, seat, stern, tail, tail end, tooshie, tush.

To be sound (idiom) = isn't a full idiom like "kick the bucket." The phrase "be as sound as a bell" is a well-known idiom. This idiom means to be in very good condition, healthy, or undamaged. The phrase "safe and sound" is also an idiom meaning completely safe and without injury or damage. 

By the mid-1800s, sound was further attributed to people considered “trustworthy” or “of sober judgment.” In the 20th century in the United Kingdom and Ireland, sound spread as a slang term for someone you like or something that you enjoy, similar to “cool” or “awesome,” hence an expression like you're so sound. "He is sound!"

Tightrope (n) = a rope or wire stretched tightly high above the ground, on which acrobats perform feats of balancing. "A tightrope walker goes from one side to the other."

Sloppiness (n) = messiness, untidiness, chaos, slackness, carelessness

For the long haul means a long distance (in reference to the transport of freight or passengers). "a long-haul flight" a prolonged and difficult effort or task. "Getting the proposal passed is likely to be a long haul."

Small-time entrepreneur = typically refers to someone who owns and operates a small buisness or works as a freelancer or independent contractor on a smaller scale than a large-scale business or corporation. It can also refer to someone who's just starting out in business or who has limited resources and time to devote to their entrepreneurial ventures. 

"Dwindle away" means to become gradually smaller or less, often to the point of disappearing or vanishing altogether. It describes a process of shrinking or wasting away. 

"For the sake of it" means to do something without a particular reason or purpose, just because you feel like it or want to. It suggests a lack of a specific motive or need, and instead, doing something out of simple inclination. 

Seed money (n) money allocated to initiate a project. "We'll give you some seed money for a few stores."

"Too much at stake" means there's a high level of risk or potential loss associated with a situation. It implies that if something goes wrong, the consequences will be significant and potentially damaging.