Peter Jones

Launch Your Business

background

3.2 | Commit to starting up

One of my 10 Golden Rules is COMMITMENT. Great entrepreneurs have a shared quality: they commit to action. They are doers. They get things done.

COMMITMENT is the bridge between DECISION and ACTION. Once entrepreneurs have made a decision, they make a commitment to act on it; to take the action to get the results they want. It’s the IGNITION to make things happen.

Becoming a successful entrepreneur requires making a big commitment, both to yourself and to your vision of where you are going.

With commitment comes responsibility, not just to yourself, but to your staff, your customers and your suppliers. If you are not committed, why should they be?

One less positive entrepreneurial trait induced by commitment, is the inability to switch off. But, if you find something you believe passionately in and enjoy, this is less of a problem, as it doesn’t feel like work. Good organisation also helps. It reduces the amount of sacrifices you need to make as an entrepreneur.

Commitment is empowering, it’s an invaluable ally. In my experience, the simple act of just making that commitment seems to create a momentum all of its own.

Exercise:

My business will be called ...

The business will provide ... to ...

These people or organisation(s) need this product/service and will buy this product/service because: ...

The products/services my business will provide will be ... than the competition.

On my part, I bring the following skills, experience and contacts to the table: ...

Knowledge and skills missing include: ...

Key weaknesses and risks are: ...

These will be managed/overcome by ...

The business will succeed/I believe in this idea because: ...

In two years time the business will be: ...

In five years time the business will be: ...

With commitment comes responsibility, not just to yourself, but to your staff, your customers and your suppliers. If you're not committed, why should they be?

Once you’ve committed to your business by conducting research, getting an understanding of the market, the potential customer base and what’s already out there; once you’ve committed to writing a business plan, and sourcing finance, you’ve started to take the action needed to get you to where you want to be.

But the real journey begins here. You’ve done the leg work necessary to justify why your business will succeed, but you’ve only just begun. Just as an Olympic athlete does a huge amount of preparation before getting out on the track to start a race, entrepreneurs need to prepare adequately. But, just as what an athlete does on the track determines whether they succeed or fail, the same is true in business. It's the actions you perform once the business has started that wil determine its outcome.

Preparation without performance counts for nothing.

Return to Categories