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Thursday, September 10, 2015

Dream big but act wisely

I am studying medicine to be a doctor, but maybe I should consider alternatives.

Entrepreneurs tend to be dreamers.  They see the future of an idea and try to turn it into a reality.  There is no age limitation to being an entrepreneur or a dreamer.  However, dreams like entrepreneur may be improved with time and work.  Allowing an idea to mature properly and studying underlying business principals may be the difference between the success and failure of achieving dream goals.

All dreams are not going to come true regardless of how hard you try.  It does take hard work, but proper study and some luck is needed.  Failure to attempt to achieve a dream ensures failure because you never try to achieve the goal.   The same is true of trying to achieve a dream when insufficient time has been devoted to the planning and maturing the underlying concepts.  There are also occasions where a person’s skill-set requires improvement to ensure the best chances of success.  The same is true of the improving one’s economic standing.  Starting a business without sufficient funds to maintain a lifestyle prevents the entrepreneur from devoting sufficient attention to a new business or may cause them to close the business too early.  After all, it is important be able to eat and provide shelter for yourself and your family.  Insufficient funds to take care of daily needs become a major reason to vacate a new business and find a job that pays.

The desire to accomplish a goal may be with you for a prolong time before you are ready to tackle the tasks. Perhaps you want to write a book at age 20 but finally get around to it at age 60. Expending your energy too early may result in burn-out or failure because of starting at the wrong time.  Timing is critical in many ways.  For example, creating the light-bulb 50 years too early would have caused loss of patent-life before an electrical network was available to allow the product to be useful.  Trying to create a medical device before you understand the market and the medical disorders is likely to put the product at a disadvantage in the market place.  The same is true if sufficient education is lacking because of insufficient studies of the business area and market.

There is often a critical timing for executing on a dream, especially when it comes to entering the market place.  Trying to enter the market place too early limits market adoption.  Entering it too late, allows competition to take the market.  Developing a product that is not properly designed to meet the market needs can be equally destructive to the business.  It is not sufficient to have a great idea, the timings and maturation along with study and hard work are essential to convert a great idea to a reality.

The goal is to be successful and limit the failures.  This requires acting wisely and understanding that perhaps dreams take time to mature just as much as the people working to achieve them.  The best way to some up these concepts is: DREAM BIG, but ACT WISELY!  Take the right steps and look for the optimal time to start the tasks of achieving your big dreams.

Taffy Williams is the author of:  Think Agile:  How Smart Entrepreneurs Adapt in Order to Succeed to via Amazon