Can you say that you are an entrepreneur, or are you still at the stage where you are just dreaming of becoming an entrepreneur?
As a dreaming entrepreneur, you are quite perceptive, passionate and possibly familiar with business problems in general. But you do lack basic fundamentals in entrepreneurship, as well as capital and other resources necessary for a business to succeed. Or you may be at the stage where you have already started the business, but you’re still not seeing any success you thought you would. You may also have started a business, but it didn’t survive its first year (great for providing valuable learning experience, however).
>> RELATED: Pursuing Your Dream of Becoming an Entrepreneur
Your response to the realization that you are still at the dreaming stage might be “one of these days I’ll get out there and have a successful business on my own”. And you may have been “pushed” by a significant other-successful individuals”, to make good on those often-expressed dreams.
If you are still dreaming of that first taste of success in business, the first thing to do is to enhance your expertise before seeking out any kind of capital, venture capital or not. Until dreamers undertake an active program to improve their entrepreneurial expertise they will be more comfortable letting others do the venturing and thereby experience a lot less trauma.
What You Should Do
You likely have a significant level of entrepreneurial experience in a particular field of business or in a specific industry. So look for opportunities to bring your entrepreneurial drive and attitude to any business venture, but not yet one of your own. Definitely participate with others in a business venture, and as you do, make a determined effort to enhance your entrepreneurial expertise by undertaking a program of experiential entrepreneur learning.
>> RELATED: 25 Lessons for Start Up Entrepreneurs and Home Business Owners
Begin by becoming acquainted with the entrepreneurial “success script”. This could start with reading the biographies and case studies of both successful and unsuccessful entrepreneurs. Take a course in entrepreneurship. Join the local chapter of the entrepreneurs’ association. Spend time learning from successful entrepreneurs, new venturers, or institutional experts, start up companies, investors, successful entrepreneurs in the field).
Try to create your own success script in your mind. One way to do this is to begin to compile a venturing “do” and don’t list. Use this as a basis for building the knowledge structure required for success in a new business.
And remember, if you’re a DREAMER and intend to undertake your own new venture without this exposure (designed to enhance your consciousness of the expert script)… your chances of failure in a new business remain high.