Don’t start counting your “massive profits” just because you think you have an idea for a better” mouse trap.” At this point in your business life, no one cares about you. Get-rich-quick businesses only work in the movies; real life is another story.
Starting a business and reaching a level of success takes a long time. The main player for achieving profitability is you (yes, a mentor may walk with you on your journey).
Overnight success usually comes to those that have first worked countless hours to prepare themselves and their products/services. They place their business in a position to explode at a future date and then everyone else thinks that it was an instantaneous success.
Too many business owners believe that they can “speed” up their success by spending money on advertising, public relations, internet marketing, sending out news releases to major publications, etc. Most business owners cannot afford a good support team; it may cost tens of thousands of dollars and to compromise for a less expensive alternative is a waste of money.
Building a foundation to achieve that explosive stage requires building a customer base and having some history. There has to be a story to be told. Do a little homework and look at the big brands today, for example Starbucks and Apple. Both of these companies are now household names, but they first built a foundation and put in long and hard hours to achieve success.
Many small businesses have a vision of becoming an overnight success; one of the reasons for that “need vision” is a lack of working capital. All their efforts are put into an unrealistic dream instead of planning to make a small profit which will allow a business to gather a customer base and to develop a story.
Always work towards building a solid foundation. Take small profitable growth steps even if it takes several years. Eventually that profit will grow as well your story and customer base and you then can become an overnight success.
If you develop the habits of success, you’ll make success a habit. Michael Angier
Nick J. Petra CFP building a foundation for future “quick success” is my expertise.