Chasing ideas is by far the best part of being an entrepreneur. I say that with some caution because chasing ideas without knowing the process can land you in days full of nothing but daydreaming. The earlier you run the numbers on an idea the better. It’s okay to chase ideas but the sooner you know that it isn’t feasible financially, even better. It saves you time and energy, along with a lot of capital.
Eventually, you become a master at thinking ideas all the way through – from conception to a full-fledged business – but now with the accounting portion in the beginning stages. If you realize early on that the money won’t work, then you free your mind to move on to another idea. New ideas are exciting! And, we all feel this new idea is a great one – the right one. This can make figuring out the financial part counterproductive to our free-thinking minds. Avoiding the numbers keeps you from getting lost in the disappointment. An entrepreneur is aware of this, so you learn to adjust and the more ideas you think about the sooner you will get to one that is a hit.
We are trying new things all the time within our company walls, i.e. “MINDSPACE”. It is the cheapest yet the most important training tool utilized when teaching people about small business entrepreneurship. They can stumble, get picked back up and keep on learning. All the while we have a cluster of companies that are doing good things and creating cool ideas.