An Entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
The entrepreneur starts off like the rest of us with varying degrees of financial risk, domestic responsibilities, health needs, and future career options. Before becoming an entrepreneur, some people have been very successful, and some become entrepreneurs out of necessity. But whatever the situation, that step before becoming an entrepreneur is loaded with both risk and opportunity, with the risk assured and the opportunity less probable.
Few who make the jump predict the worst-case risk as an outcome and often put some or most of the risk “out of mind”. Those who jump into this exciting, glamorous place where you get the world’s best boss – YOU, don’t expect to fail and normally are planning for a long run of success or a fast-rich exit.
No matter how well informed this entrepreneur is – jumping is intentional. Often, they recruit friends or family to join them, provide seed money or support them in unimagined ways over the first few years to save the dreamer and their dream.
Seldom do entrepreneurs jump without a purpose, mission, dream or passion. The passion can be about them making a LOT of money, having control, showing the world how smart they are, or it can be about making a difference in the world by adding value to customers, investors and staff.
Whether the goal is only about money and independence or some worthy intentioned product or service, the entrepreneur and their tribe find some combination of the following conditions facing them down.
Bubble Economy: The Entrepreneur finds a buyer frenzy for their product or service. In a buyer frenzy, there is a lot of room for variations. There can be variations in price, cost, quality, delivery, customer service, customer satisfaction, available capital, and others. Basically, this is the old story of the “right place” at the “right time” with the “right product” and the entrepreneur wins if the bubble does not burst.
Tough Times: The entrepreneur finds every day tough. The economy is tough, interest rates are high, banks won’t talk to them, buyers move slow (if at all) and buyers favor established and proven providers of similar products and services. If the entrepreneur is a good enough business person to survive there may be real opportunity if technology doesn’t satisfy the customers better and cheaper.
The entrepreneur is unprepared for the bubble or tough market: Entrepreneurs love their products and are sure the products will sell themselves and be praised by the buyers creating such a demand, funding will find the entrepreneur. Compliance, taxes, labor law, insurance, website, social media, and CRM sounded simple before the jump and less so now. Why don’t staff, partners, and customers do what was expected?
Surprising competition: The entrepreneur’s product or service is very cool and certainly does some important things very well and can make a difference in the buyer’s world. BUT the buyer doesn’t think the difference is big enough to change and changing is too hard, and the buyer has had a workaround for five years that is not perfect but works and there may be some new technology soon that eliminates the need to do anything.
Prepared: No matter what, the entrepreneur has risk. No matter what, the world is still changing. New technology, financial conditions, workforce conditions and demands for value from the buyer, but Revenue Science™ provides entrepreneurs the “Safest Way” to jump into all that risk. There are safe ways to decide if this entrepreneurial venture is just risky (almost all are) or dumb.
Revenue Science™ has a long list of “Dumb Stuff” that has proven to be fatal to finances, home life, health, and career every time. For the entrepreneur “Dumb Stuff” shows up on the income statement as high costs of operation, unnecessary expense and often way too many people on the payroll. Revenue Science™ calls this the “Cost of Chaos” to produce revenue. The “Cost of Chaos” is 20 to 50% of total sales, which starves the business and the humans in a short time.
Prepared jumping requires hundreds if not thousands of decisions that most people making the jump have never had to make, at least never outside a classroom or corporate headquarters. The answer to any of these questions can be right or wrong without being fatal BUT each of these questions is linked in the real world to all the rest of the questions.
Fifty right answers in a row don’t matter if the next one is not aligned to the rest and can be answered in a deadly way.
Revenue Science™ provides the “Safest Way” because a scientific approach links all those thousands of questions in ways to be aligned, in the right order and shines light on bubbles and “Dumb Stuff” answers that often seem right but increase risk and the “Cost of Chaos”.
Jumping off to be an entrepreneur is risky. To jump off and then have to figure out everything on the fly, often for the first time, increases the risk. Applying Revenue Science™ to the entrepreneur’s passion for the future increases the chance to safely move the entrepreneur into and out of year one and then year two and on into the future.
Most entrepreneurs answer these hundreds of early questions so poorly (they pick “Dumb Stuff” way too often) that every penny and relationship in their life is at risk when different answers would make immediate and long-term success much more likely.
Revenue Science™ is the “Safest Way” for any entrepreneur to take that jump and live to jump a lot of days and years reaping the rewards of being an entrepreneur while avoiding the pains (most of them anyway).
No matter your business direction, let Revenue Science™ show you the “Safest Way”.