Bushnell has said that true entrepreneurs are doers and not dreamers. While agreeing with this quote, I also believe that it starts with a dream. A dream to do something extraordinary and different makes a great entrepreneur. The right ingredients of knowing how to make a dream a reality is what turns a dreamer into a doer.
I’ve researched about entrepreneurs of Sri Lanka, and especially the female entrepreneurs. I’ve interviewed close to 20 such great female entrepreneurs and have found interesting and exciting stories about how they made their dreams a reality. However, this article is not about their stories, although some of the ingredients that I would talk about are influenced by the research results. This article is more about a dreamer becoming an entrepreneur by coining all ingredients together.
Every good doer was once a dreamer. But they just didn’t stop at that. They made sure the environment around them fell into place.
Family understanding and support, personal characteristics, institutional support and timing are predominantly found to be common supporters of fueling a dream that becomes a viable idea, into what the entrepreneur does in the end.
Family Understanding and Support
The most important ingredient is the immediate family understanding and support. It is very important for the ones who know you the most to believe in you, understand that you are not going to be around at times, but still, to support you. Now, how can they understand you unless you tell them? You can try explaining what you are doing, but most of the time, human psychology works best when it sees potential results. So explain the result.
Personal Characteristics
Having said about family understanding and support, it’s also important to note that most entrepreneurs didn’t have any support. They became doers because of their personal characteristics. Will power, ability to foresee opportunities, determination, internal locus of control, need for achievement, participative management and decision making styles are very important key contributors that make a dreamer, a doer. Cultivate a never giving up attitude. The entrepreneurial road is not a bed of roses. Although you revel in the joy of being your own boss, you go through a lot of stress, doubt and risks. The most important is to not waver from the end goal and the reasons why you decided to do it all in the first place.
Institutional Support
This should start with schools, universities and other institutes. Don’t put students and people into boxes and then ask them to think out of the box. Let them start outside of the box and dream big. Support them therein to refine dreams into viable ideas that push them to do something big. Financial and Government Institutions also play a very pivotal role in supporting entrepreneurs. From funding the initial capital required, to constant backing up for growth through financial advice and consultancy is very important.
Timing
Getting the idea out and launching it to the market at the right time is very important. The right time will make the idea greater. How do you know the right time? Well, the market will tell you. Observe and research the market trends and behaviour. Test the market by brainstorming with those who are already in. Keep everything ready; the marketing material, sales pitch and the product. Build the audience and keep them interested and looking forward to your idea. Decide on a date, and don’t be a second late to launch.
Last but not least, the most important…
The Viable Idea
Some of the best ideas you think might work will turn out to be market unworthy. But, an idea you deemed not good can turn out to be the best market worthy idea after all. So all ideas are good ideas unless and otherwise proven bad. Keep on reading, researching and modelling the idea. Talk to friends and family, they are your best critiques. Listen to all advice but you decide for yourself. Don’t discard bad ideas, store them for future, because the market will be worthy of it in time to come. If it doesn’t, you can laugh at the fact that you had such a crazy idea back in the days. Continue to refine the idea you decide to go with and make sure it’s the greatest and most viable idea out of all and is absolutely market worthy.
Dream it, but then make sure you Do it as well.