“Rome wasn’t built in a day either…”
I first saw this unapologetic declaration on a billboard sign on a highway that is perennially under construction. And it always reminds me that startups have to be treated the same way.
Entrepreneurs and wantrepreneurs approach creating a startup empire differently. Firstly, what’s a wantrepreneur? They are the eager beavers who may look, act, and seem like entrepreneurs – but all without owning an actual business!
Let’s examine the wantrepreneur scenario when building a startup empire:
- This is the one…the idea of the century!” Wantrepreneurs rarely focus on the problem to solve.
- “Oooooh features! I love features!” Wantrepreneurs don’t create a foundation and work incrementally, but instead fast forward and jump in the deep end before learning to swim.
- “I’ll just whip together the business in no time!” Wantrepreneurs always underestimate the time it takes to grow a business.
- “If you build it they will come.” Wantrepreneurs believe the only thing stopping them from customers, is the lack of product.
- “Money… I’ll figure it out later.” Wantrepreneurs severely minimize the needed funding for their projects.
To build an empire you need a foundation, vision, support, and patience. Serial entrepreneurs know this; it is second nature to them. As they move with tremendous speed, they know they have to learn to walk before they run. A scalable, repeatable business model is necessary before expanding too big or out of reach.
How do you approach building an empire? Let us know in the comments below.