Starting your own business requires the right attitude

Pri Notowidigdo, Contributor, (e-mail: jakarta@amrophever.com)

Starting your own business is a scary yet exciting experience. It can represent the biggest risk as well as the biggest opportunity of your life. It makes sense then to know what you're getting into and what's required to make it succeed.

Get away from following the conventional way of doing things. It may not necessarily be the right way. What do you stand to lose by being creative? Be flexible and responsive to quick change by being informed about the marketplace and current events.

People who have run their own businesses talk about several important factors. Foremost among them is to know your personal goals. What do you want in life? Where do I want to be 10 years from now? What kind of income would I like to have? Your personal goal should be something that is something truly important to you.

Operating a business is demanding. Ask yourself if you're doing something you want to do. Are you working with the people you want to work with? Are you getting the kind of return on investment you expect? Unless you answered yes to these questions, you won't be happy and you won't be a good businessperson.

Your business idea must be accompanied by a personal desire to start and operate a business. It must be a part of what you want out of life. Does starting and running a business fit into your personal goals? If not, the ideas you came up with have no meaning because they stand little chance of being converted into a successful business.

Prior work experience is another key part of any business idea. For example, if you want to start up a restaurant and have never worked in a restaurant before, it may make sense to first work for somebody. In this way, you can avoid making costly mistakes. After working in the restaurant and understanding the operations, you can decide whether this is the kind of business you wish to start on your own.

A knowledge base is also another important factor. You must have an idea or a concept that you know more than anyone else. Instinct or feeling is no substitute for knowledge. Instinct only enhances knowledge. You can acquire this knowledge base most naturally by having the relevant work or business experience. It can also be acquired by asking questions, listening, reading or doing research.

Many ideas for starting up a new business stem from a desire to get rich quickly. But starting a business with this attitude is definitely wrong. While money is important, it will only come later than many of us would like and after considerable effort. What is the intrinsic reward going to be for all your efforts? Do your best. Give something that people need. In this way, you will get rewarded all the way along even if you are not making a lot of money in the beginning. It has to be an inner vision. You can't be motivated solely for profit. Isn't it about combining profit, philosophy, and vision?

Putting a business idea into effect is normally difficult. It only makes sense then that you must be committed to success. You should start your own business only if you have a unique idea, vision, or an ability to execute something much better than anyone you see on the horizon. Don't be satisfied with doing an average job but aim to do something superior. If you have this attitude, then you can seriously consider starting your own business.