View Full Version : Bursting with energy, but stuck in a lull!!
28-06-2006, 11:41 PM
Does anyone else ever get into a 'lull' for just a day or few days at a time? My business is doing well and I'm looking for a house to buy as an investment, but I keep looking into new ideas so there isnt much focus on the one business. My logic is that its better to go with the right idea with big potential than keep working on one which doesnt.
As a 22yr old graduate I'm briefly tempted to go back into the working world for a bank or similar, but completely appreciate the short-term benefit of the lifestyle is at the cost of the long-term. He who says you'll never get really rich or successful working for someone else is indeed a wise man and quote for all of us to remember!
I'm basically bursting with energy and enthusiasm and love being in business, but just lacking what I see as the *one* right idea to put all of my efforts into!!! Kinda like an entrepreneur sideways.. does anyone ever feel the same or have any advice?
29-06-2006, 09:19 AM
He who chases two rabbits catches neither!
Focus on doing on thing and do that and that alone. I have sooooo many business ideas every day but I need to block them out to concentrate on MK Printing.
If you work in one direction then you make much more progress than going in several at the same time.
29-06-2006, 11:22 AM
There's no such thing as a RIGHT idea. An idea could be great but you've no chance if you don't know how to implement it successfully. Likewise a mediocre idea could be earning you a fortune with the right processes and people in place.
You've got to just do it! If you work on your mediocre ideas now then when you do get that great idea eventually (and you will becuase it might just spin off your mediocre ideas :) ) then you will be better prepared for fulfilling it because you will have acquired the skills to communicate, the contacts to use, the market that's understood, the potential that you'll realise.
Go for it...read '"Screw it! Let's do it" by Richard Branson.
Good luck and start being a doer.
29-06-2006, 03:20 PM
Anotherone by Richard Branson is that if a business is not working after 6 months scrap it and move on.
Fair enough Richard thats easier said than done if you don't have millions of pounds backing you.
Although it maybe right to have one average idea and work on it you could use your experience and money from that to put into THE idea.
29-06-2006, 04:35 PM
I don't think Richard had millions to be begin with...you've go to start somewhere.
For example, the maximum I've invested in my business is £4k but I've spent over £10k without any loans. Plus I'm getting a further £16k through sponsorship. Admittedly I am not in a position to pay myself a salary as all the money goes back in to the business by creating more products and increasing the business image.
It's all about imagination. My busines does not owe any money to anyone and is owned by me solely.
You need to develop the knack for fundraising or finding ways to be paid BEFORE you have anything.
I was lucky to be given informal training whilst I worked as a volunteer in a youth group. Now I'm enjoying the opportunities that have opened up to me. It's called creativity and following a very academic life I've found out that I actually have some!!! :)
BTW I have not included any income generated through sales in the above figures. Just the amounts required for individual projects within my business.
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