Most idea generators have great business ideas but don’t know what to do next. Where do you start? How can you avoid wasting time going down the wrong path? What will make your business a success?
It’s a well-known fact that most new businesses fail. But what most don't know is that they don’t fail because they have a bad business idea.
Your immediate environment has a big impact on motivation and long-term passion.
If those around you are well educated and well established, it will give you more emotional and economic confidence in choosing your entrepreneurial steps.
This will make it easier to not be driven by “fears” or the pursuit of quick achievements that can undermine your success rate in the long run.
It’s important to make sure you have full support from home before starting a new business.
10,000 hours of investment
Malcolm Gladwell points out in his book ”Outliers: The Story of Success” that 10,000 hours of practice can help anyone be excellent, regardless of talent.
Studies conducted in the 1990s among composers, basketball players, writers, ice skaters, concert pianists, chess players, and others suggest that with 10,000 hours of practice you can achieve a world-class level of expertise in every and any field!
Long-term economic assessments
Robert Kiyosaki and Sharon Lechter in their book “Rich Dad Poor Dad” talk a lot about the differences between poor and rich thinking.
When you decide to embark on a new path and develop an entrepreneurial idea, it is important that you prepare a financial assessment for it.
In Kiyosaki and Lechter's definition, the index for a "rich" person is not derived from how high their monthly salary is, but from how long they can exist without active employment.
In the last 2 years, I was a Co-Founder & Chief Product Officer at Arborknot LTD.
I specialize in user-oriented psychological techniques and product strategies and have 11 years of experience in senior roles for global leading companies such as Teva pharmaceutical & Unilever Israel.
Before ArborKnot, I worked for 5 years with startups and published two books that received world-class reviews: “Essential Read: The Pipeline Guide” in 2019 and “The Business Empowerment”, which reached 1# Bestseller in 3 categories on Amazon in July 2020.