I have no shame in admitting that I fall into this category.
Foolishly I thought starting up a business is simple. With my redundancy money idle in the bank earning
zero interest. It made logically sense
to use it to build a company as I always liked the notion of being my own boss.
After reading numerous
literatures, attending seminars and spending hours researching in the British
Library on copy rights. Suffering from analysis paralysis, I could not come up
with a business idea. Impatience and eagerness to get started, I took the easy
route and copied someone else’s idea.
Being ignorant, of course I
ignored the advice to take baby steps instead I went all out to mimic the competition.
However, by not having the passion or the know-how each day became a battle and
a drain to my bank balance.
Finally, after nine months of denial, realisation kicked in
that my business was not viable and also I cannot sell even if my life depends
on it. I do not have what is takes to be
an entrepreneur. I certainly would be fired by Lord Sugar if I were on his show.
Running a business is not simple and hard work does not
equate to success. A business without a
unique selling proposition would destine to fail.
