“Only those who will risk going too far can possibly find out how far one can go.” -T.S. Eliot

 

The average entrepreneur will fail several times before succeeding or simply giving up and moving back into the corporate world. Contrary to popular belief, modern day starlets like Mark Zuckerberg (founder of Facebook), did not strike it rich on their first attempt. In fact Facebook was Zuckerberg’s sixth attempt at creating a business on the web. Zuckerberg had the gut, and the time (he was still in university) to explore his ideas and business models. Unfortunately, most “entrepreneurs” do not have the gut, time, and money to wait and wait and wait until they hit it big. But, here is the thing, the luxury of time, experience, and knowledge of running a business is essential to success. There is no “Cliff’s Notes” (abbreviated readings of a novel) that can give you the tools you need from day one.

 

As one of the co-founders of NextStep I get an interesting perspective on the entrepreneurial drive of expatriates and a growing number of Chinese in Shanghai. There is something about China, and Shanghai in particular that drives many individuals into seeking out what it means, and more importantly what it takes to be a successful entrepreneur.

 

You can learn how to open a business, manage a business, and even keep great books for a business, but the most basic skills that come along with being an entrepreneur are instinctual. There are one million great ideas conjured up every second, but 999,999 will most likely never make it to market, or will simply fail. The entrepreneur in the most pure sense has a gut instinct for what will and won’t work. Entrepreneurs are the drivers of change. Entrepreneurs cannot predict the future, but they help shape it. But, because we as entrepreneurs, and more broadly as human beings, cannot see into future, and if we are cognizant of the fact that the past is not a predictor of the future, than why do some entrepreneurs win, and some lose? Could it be luck?

 

Sometimes people do get lucky, and entrepreneurs get lucky too. Before counting on luck, a sound business must be created — the right team, business model, and market analysis needs to be made. Yet, even when the most diligent of efforts are made to capture a market, create a team, and build a go-to-market strategy are planned companies have, still do, and will continue to fail. This is where luck may be coming into play.

 

When I speak of luck, I am using it in a specific context, “a combination of circumstances and events operating by chance to bring good or ill to a person”. This is where we as human beings, unable to predict the future, are left unable to control what happens around us as business owners. Circumstances that are out of our control have a huge effect on what will happen to us and our businesses. It is absolutely necessary to be aware of what we don’t know, and what may or may not happen in the future. This may come across as being vague, but it is meant to be, because there is no clear cut answer.

 

What divides a successful entrepreneur from a failed one is his/her ability to make the right decision at the right time. Making the right decision comes from both careful analysis, and equally important, a “gut” call to implement a plan or strategy. The right timing also comes down to careful planning, but also relies heavily on chance. The question you must ask yourself is, do you have what it takes? Do you honestly believe you have the instincts and the skills to be a successful entrepreneur? If you do, welcome to the game. If you don’t, then it may be best to walk away while you are still ahead. Recall what I said at the beginning, it is only those who risk going beyond what others are willing to do that they gain the potential to see what may await them.

 

There will be no conclusions made here, this was simply designed to encourage discussion, please comment.

The best business directory in China, or at least we think so can be found at www.NextStepDirectory.com

Here you can find answers to your many business service questions. Looking for an accountant, a logistics manager, or a graphic designer? Find all this plus more. In the coming weeks we will be launching some new features that will enable our users (for FREE) to get quotes from multiple service providers with one push of the button.

Tell me what you think about our new tagline…”NextStep Changing the way you interact with a directory.”

 You ask, how can you possibly interact with a directory? Well I will let you find out about by exploring the comments, rating, and announcement section of the directory. Let your voice be heard and find out how you can take advantage of our ever-growing directory.

 If you have any comments or suggestions on the directory please let me know

joseph DOT constanty AT nextstepdirectory DOT com

Big business has been doing it for years, but the mom and pop shops of less than 500 employees have still yet to get on the band wagon of outsourcing professional services. The biggest barrier to entry for small companies, in my opinion, is there lack of resources dedicated to finding new partners and companies to handle outsourced tasks. Small companies do not have the means to find reliable partners. Obviously they could always pick up a phone book or search the world wide web, but the results typically do not come with an outside opinion and position on a particular company’s ability or inability to provide services at a level they say they are able to. With nothing in hand, what is a small business owner/manager to do in economic times where only the most thrifty will survive.

This article in the ecommercetimes enforced my belief in why a tool like the NextStepDirectory, of which I am a co-founder, really needs to exist–abundant and reliable business information at your finger tips.

It is time for SMEs to really take a hard look at their bottom line, and figure out how they are going to squeeze every last unit of productivity out of the inputs to their final service. Outsourcing and finding new service providers outside one’s personal business network may be the first step in the right direction