I often say that starting a company is like jumping off a cliff and building an airplane on the way down. It’s a vivid metaphor that contains a lot of truths. First, you’ll need courage and optimism. You have to believe you can pull it off. Next, you’ll need ingenuity. Assembling a plane takes talent and skill, even under calm circumstances. In the chaotic rush of a death- defying plunge, you need agility. You need to react quickly. You need to be calm under pressure. You need to find the plunge exhilarating.
And then there are the stakes. If you don’t assemble the plane in time, you crash. In real-world terms, you run out of money. This is why speed matters. Once you jump off the cliff, the ground comes at you fast. It’s why, in almost every case, a slow-moving startup is dead. That’s part of what makes entrepreneurship so grueling— because the default outcome, until you get the whole plane running, is death. Not just for you but also everyone you persuaded to jump with you.
So what does it take to succeed in these entrepreneurial leaps of faith? The answer is at once simple and infinitely complex: You need an entrepreneurial mindset.
And yes, it can be cultivated.
Denne historien er fra March 2021-utgaven av Entrepreneur.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra March 2021-utgaven av Entrepreneur.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The Better Way to Fail
The next time something you do flops, here's a new way to learn from it.
Making the Midlife Leap
After getting laid off in her early 50s, Keri Gardner decided she wanted to control her own fate-so she bought a franchise with her 401(k).
A Quick Guide to Franchise Ownership Costs
Franchising costs money. Here's what everything means.
This Doughnut Franchise Is Hitting the Road
To grow, DonutNV needed a steady supply of delivery trailers. So last year, it started making them itself.
3 Steps to Find Your Perfect Franchise
There are many brands out there. Finding the right one is up to you.
This Fencing Franchise Is Ready for Growth
Superior Fence & Rail nearly doubled its sales in one year. How? By stepping back and focusing on fundamentals.
What Are a Franchisee's Role and Responsibilities?
If you're going to be a franchisee, you should know exactly what's expected of you.
This Dog-Training Franchise Is Zooming Ahead
After a rough few years, Zoom Room made major changes...and has emerged as a stronger, faster, very well-behaved business.
What's the Real Damage?
Most clean-up companies just fix messes, like fire or flood damage. But 911 Restoration's new CEO saw an opportunity to help with the other emergency they often encounter: customers' emotional trauma.
Mental Health Services, Franchised
The U.S. is facing a growing mental health crisis. Ellie Mental Health wants to be the solution.