Ever wonder what’s behind an entrepreneur’s decision to take a risk? There is a spectrum for this, with the calculation and reasoning of due diligence on one end, foolhardy on the other, and a variable called faith that lives in the middle.
We’ve all heard stories about the legendary entrepreneur’s hunch. But without some foundation of facts and reasoned assumptions supporting a financial projection, a hunch is the equivalent of a belt without loops. And we all know what you call trying to hold up pants with a belt that’s not connected to anything – foolhardy.
Still, that foundation you seek is challenged by the truth that most important decisions come packaged with their own urgency. The time will come – usually sooner than later – when an entrepreneur must take action without the benefit of all the answers; when the fog hasn’t yet lifted on your quest for clarity. And in that moment of not knowing, but going forward anyway, we find the quark of entrepreneurship, identified by the paradoxical twin emotions of apprehension and exhilaration.
As arrogant occupants of 21st-century Earth, who can rightly boast of creating exciting innovations, like the computer, talking paint, and the margarita blender, it serves us to believe we’re also the more enlightened generation.
If you’ve read my column in the past, you know that I consider the only positive to accrue to the Main Street economy during the Lost Decade (2007-2016) is the unprecedented financial strengthening of America’s small business sector.
“This is for one of those customers from hell.”