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Oct.14
2:02 PM ET
Tuesday, 14 Oct 2008
The Gut-Wrenching Journey of Entrepreneurship
By Jeff Chavez, CEO, Northstar Thinktank
Entrepreneurship is a wonderful thing. It provides incredible rewards. But let’s be honest,
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The Fowkes Family |
Our good friends, Roger and Kathy Fowkes of MiraLinx, LLC, are learning that truth in a very real way right now. Facing an extreme financial crisis and on the verge of losing their home, Roger and Kathy got a swift kick in the pants from Donny Deutsch and his team of experts today. It was rough to witness. But it was done in love and wisdom.
They learned a few very important lessons today:
• When the financial well runs dry, go back to work if the needs of the family are not being met.
• Don’t let the emotion and excitement of your dream cloud your judgment.
• Remain flexible and open to a new path and a longer than anticipated timeline.
• The dream doesn’t have to die when you have to take a different route!
• MiraLinx has a great mapping product with a broad application and there are resources available to help them get a jump-start.
Roger and Kathy’s scenario is not unique. In fact, any successful business has a compelling story of risk, sacrifice, reward, and growth behind it. The trick is learning how to weather the obstacles until success is achieved.
So, how does an entrepreneur navigate the myriad of decisions, alternatives, risks, and crossroads that arise on the journey?
The answer is more like a recipe than a proclamation. There are many unique characteristics of entrepreneurship that can be studied, learned, and developed. At my company, Northstar Thinktank, we refer to them as “The 11 Killer Instincts of Entrepreneurship.”
In fact, we’ve prepared a free report about these killer instincts that you can access easily by stopping by www.northstarthinktank.com
Take a look and see if you’ve got the instincts of the world’s greatest entrepreneurs or not. I’ll bet you’ve got many of them just waiting to be developed and mastered.
Yes, the journey of entrepreneurship can have its gut-wrenching chapters. I’ve lived many of them. But I’ve found it to be well worth the experience—and if you’re willing to pay the price—you’ll come to the same conclusion.
- Jeff
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