The path of the entrepreneur
In this section you will be able to learn the needs and problems of entrepreneurs depending on the stage of development of their own business. After researching this path, you will be able to better understand what stage of development of your own business you are at.
Entrepreneur needs and problems depending on the stage
Desire/need to be an entrepreneur
- I want to be sure that entrepreneurship will lead to my ambitions
- Fear of being an entrepreneur
- How to make money
Find and choose an idea
- Find an idea that will help me realize myself
- I'm looking for examples, cases
- I can't explain my idea
- Crossroads of opportunities
- What will I make money on
- Where to look for ideas, cases
- Gain confidence
- Share the responsibility
- Criticism from of the environment
- How to distinguish constructive feedback from non-constructive
- Don't be afraid, move on
- Understand the worst/best schedule
- Understand how much money you need, schedule expenses
- What to count? How to count? Who will count?
- How to draw up your miscalculations for investors, banks, partners
- Not enough data to calculate
Going out into the world
- Quick victory
- "I can" confirmation
- To understand what can go wrong
- Paralysis of an imperfect solution
- Reassessment of opportunities
Search for a location
- Turn your idea of location into reality
- Find a compromise
- Impossible and not easy
- Red tape with documents
Search for partners/suppliers
- Get acquainted with all the possibilities and choose who to deal with
- Do not negotiate with a partner/supplier
- Sign an unfavourable agreement
- Who is reliable? How to avoid "throwing"?
Creating a product/service
- Bring the product to market quickly
- At what price to sell? Who to sell to? Where to sell?
- How to set up production
- Competitive analysis
Search for customers
- I want people to know about me
- Who is the customer? Where to look for customers?
Registration of the enterprise
- Not to be punished
- Do business with someone
- Where to start?
- Quests with documents
- What form to choose?
Search for capital
- To ensure operational activities
- The first debt
- On what terms to take money
Reporting, taxes, audit
- Do not have problems with the state
- Be a conscious citizen
- Reporting errors
- Search for an accountant
Exit to point "0"
- Make sure you choose the right path
- Prove to relatives that it is not in vain to become an entrepreneur
- Demotivation by insufficient results
- Don't see what came out in "0"
Access to the salary level
- I decide that I am an entrepreneur
- Could work less for the same money
- Stability, foundation
- Better quality of life
- Decrease in profit
- How to monitor business health
- Lack of system knowledge, skills
- Incorrect scaling miscalculations
- Bankruptcy risk
Increasing the team
- Reduce own involvement
- Take it to the next level
- Org structure
- Motivational schemes
- Everything gets out of control
- Search and training of personnel
The first losses
- Survive, do not break
- Cash gap / Management minus
- Loss of key customer/supplier/partner
- Unfair competition
- You invest in people, and they go
Systematization of business (I = enterprise)
- Reduce business dependence on yourself
- Restart processes
- Develop people from the inside or take someone from the outside
- Staff turnover
- Take a break
- Losing the market, opportunities, vigilance
Viewing the business model
- Do not die
- Continue to grow
- Take a fresh look at the business
- How to separate the unimportant
First export attempts
- Go to another level
- Work for foreign currency
- Create a new challenge
- Customers in other markets
- How to find partners
- Restrictions on legislation
- Realize the ambition to work in the global market
- Diversify business
- Production facilities
- Product adaptation for markets
- Service support
- Reputational risks
Exit from business
- Get resources for the new
- Not interesting
- At the start, no exit rules were defined
- Reputational risks
- Psychological risks
- Not the best exit conditions
- There is no way out
Closing the business
- Break free from the shackles
- Start something else from the beginning
- It is difficult to close a business
- Easier to sell than to close
- What to do with people, leftovers, equipment
- Social pressure: "I'm a loser"
If you see yourself at a certain stage — know that it is not accidental and you are moving in the right direction.
All entrepreneurs go through the same challenges.
A very interesting analogy can be drawn with the famous Hero Journey tool. This tool was created by Joseph Campbell and later adapted by Christopher Vogler.
Joseph Campbell is an American mythology researcher. With his book «A Hero with a Thousand Faces», according to George Lucas, he was the inspiration behind the Star Wars movie. Christopher Vogler is a Hollywood producer and author of the Screenwriting Guide.
We believe that the path of the Hero partially reflects the path of the entrepreneur.
The usual world
The Hero lives here before his new story begins.
A call to adventure
The Hero's adventure begins when he faces a challenge. There is something that disturbs the comfort of the familiar world of the Hero.
Refusal of the call
Although the Hero may seek to accept the challenge, at this stage he will have many fears that will have to be overcome. It is often a struggle with oneself.
Meeting with a mentor
At this crucial moment, when the Hero desperately needs mentoring, he meets a mentor. He gives him wise advice, practical training and self-confidence. The mentor dispels the doubts and fears of the Hero, gives him strength and courage.
Crossing the threshold
Now the Hero is ready to act. He will cross the threshold between the world he is familiar with and the world he does not know. He starts doing something for the first time in his life. Or something really scary. But this is the right decision.
Tests, allies, enemies
Outside comfort zone, the Hero faces an increasingly difficult series of challenges that test him in different ways. These can be physical obstacles or people that hinder his progress. The hero must overcome every challenge on the way to his ultimate goal. The hero needs to find out who can be trusted and who can't. This is the stage when his skills are tested.
Hike to the deepest cave
This may be an internal conflict that the Hero has not had to face so far. As the Hero approaches the cave, he must make the final preparations before making this leap into the great unknown. On the threshold of the most secret cave, the Hero may once again face some doubts and fears that first arose after his call for adventure.
The Hero must use all his skills and experience gathered on the way to the deepest cave to overcome his most difficult challenge. This is the most important moment in the story of the Hero. Everything dear to him is at stake.
Reward (capture of the sword)
After overcoming his greatest personal challenge, the Hero becomes a stronger person. And often receives a reward — more knowledge or insight. The hero must quickly postpone the festivities and prepare for the last part of his journey.
The way back
Now the Hero must return home with his reward. But the Hero's journey is not over yet. The moment before the Hero begins the last stage of his journey, maybe the moment when he must choose between a personal goal and a higher cause.
This is the culmination in which the Hero has the last and most dangerous battle. In the end, the Hero will succeed and come out of the battle purified and revived.
Сome back as a hero
This is the final stage of the Hero's journey, in which he returns home as a changed person. He learned many things, faced many terrible dangers, but now he hopes for a new life.