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Starting a Business

What You Need To Know When You Are Starting From Scratch

What You Need To Know When You Are Starting From Scratch
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You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

The stern truth is that not everyone is going to be blessed with a truckload of cash to get their childhood dream of inventing something and then getting rich off that in the marketplace. Some don’t have the cash, some don’t have the invention, some don’t know what the marketplace looks like as yet, and others are suffering from all three.

But hey, that is part of the fun, right? The excitement of starting from scratch, the butterflies in your stomach like your first day at high school- that really is one of the first buzzes of being an entrepreneur. 

Being a successful entrepreneur is similar in many ways to being a successful corporation, or (if I was to tap into my sports background) a professional sportsperson- so many of the characteristics are just the same. Of course, what is cool about entrepreneurship is that it’s about you; however, for it to be about you, and for it to be successful, the first thing you are going to have to think about is this: who are you, and why are you here?

Related: Eight Ways Entrepreneurs Can Master Negative Internal Dialogue

Did that question freak you out? Too deep, too early? Relax, grab a cup of coffee and open your mind for a few hours, as this stage is vital, and to be honest, it is one that so many people do not give enough time and respect to at the start. The result of not doing this early is that during the tougher times (and, oh yes, they will come) people find themselves having to do this same exercise, and often realizing it may have been done too late. Remember you have the time now; you are starting from scratch, so let’s start properly.

This exercise is actually two-pronged. If you cannot answer that question on a personal level, then that is the place to start. Once you have that tapped away, then ask the same question for your business idea. Now, this may not be quite so straightforward, since we normally set out by telling people what we do, but as anyone who has watched the famous Simon Sinek TED Talk (if you haven’t watched it yet, then do so right away) will know, figuring out why we do what we do should always come first.

I have seen a ton of people set out with what they thought was a flawless business idea and fail sooner rather than later, as this key foundation was not in place. The truth be told, some of their ideas were more than sound, and should have essentially ‘Made It,’ but didn’t, because they never established who they were, and why they existed both as a person and a business.

Related: Five Lessons We Learned Along Our Startup's Journey

One of the major things that has to reign through you and your business from day one is passion. If you’re sitting there thinking about the who and the why for yourself or your business, and you are not filled with passion, and in turn, drive, then you need to ask yourself why. If you have nothing, not even passion, for what you do, then things are going to be infinitely harder.

On the flip side, passion brings energy beyond reason, and people really feel it, people will feel it in you, and when they feel it in you, then they will start to feel it in your business idea or concept as well. And that is it.

Don’t worry about all the things that may come later, as you cannot quite wrap your head around them yet. They will sort themselves out- for now, just focus on answering those initial questions for yourself. And once you do that, well, for want of a better cliché, remember that once you have the right foundations in place, you can build those dreams as high as you like. 

Related: From Startup To Conglomerate: Eight Tips For Entrepreneurs To Grow Their Businesses