Entrepreneur Entrapment Syndrome: Errors by Enticement
There’s a MYTH that permeates our small business world, that Entrepreneurs in general are great business people. The public’s perception is, they are brilliant at running businesses, and have a unique ability for making millions. Truth is, however, there’s the Entrepreneur Entrapment Syndrome that causes many gifted entrepreneurs to FAIL miserably, when launching startup businesses.
Entrepreneurs long for economic freedom, and envision a life of ease. Therefore, they have a tendency to chase every new idea to the point of exhaustion. With every epiphany and envisioned expectation comes the sobering realization that the MUNDANE WORK of organizational management lies ahead. Consequently, at this stage, most entrepreneurs lose interest, and their current “big idea” evaporates. As a result, they begin the cycle of chasing their next enticing big idea.
Unfortunately, some entrepreneurs never truly understand or grasp WHY their business failed. Consequently, family, friends, even current employees can pay a heavy price for the entrepreneur’s syndrome of jumping from one idea to the next. Their family and friends will soon hear, for the umpteen time, all the exciting details of the entrepreneur’s newest, grand idea.
Think of it ... family and friends drafted into another new start-up, volunteering free labor; making another risky investment. All the while, they’re reassured by the unrelenting entrepreneur that, “It will work this time!”
The reason many of these new ventures fail is, most entrepreneurs don’t have a clue how to organize, much less turnkey a business to reflect their vision. Others refuse to embrace the mundane trench-work of building step-by-step processes for how the new startup will operate. Simply stated, this kind of work is just “not exciting, creative or fun” to most entrepreneurs.
Yes, for the forward thinking, always dreaming, and “seeing-opportunity-around-every-corner” entrepreneur, it’s much easier to fantasize a business start-up and operating it flawlessly.
Errors by Enticement: Time for Examination of Self
The enticement of an exciting, fast-growing business for some entrepreneurs is so intoxicating, it affects their decision-making process. At this point, they should STOP and self-examine, by taking a hard look at the ERRORS BY ENTICEMENT they’ve made, repeatedly.
An entrepreneur should consider embracing only ONE of the business ideas they have; at least, the one with the most promise of succeeding.
Before you decide I’m being rough or unkind to entrepreneurs, please understand, I AM ONE! Being enticed by every current idea was a flaw in my own character; one that side-tracked and caused others and me pain. Seeing an idea to completion takes discipline and good decision-making. Seeing how your grandiose ideas can affect others is crucial.
Remember, NO startup is worth losing the respect and love of your family and friends. And entitlement has no place here!
Entrepreneur’s Creativity Refocused on Systematization
So, how does the entrepreneur learn how to organize and turnkey a business? By taking all that creativity that’s constantly processing in their head and refocusing it on ORGANIZATION.
One thing I do know is that entrepreneurs have a lot of brain processing power. In other words, they have an exceptional ability to solve problems that some other folks just seem to lack.
Therefore, by just reading a few books about business systems, a true entrepreneur can fully understand the concept. They may even learn that turn-keying a business is EXCITING, and even FUN! Again, I can testify that this is a fact! I was, at one time, something like the Entrepreneur Entrapment Syndrome poster child!
However, the real issue here is, not IF or CAN an entrepreneur turnkey a business, but will they embrace the journey, complete the quest, and conquer the Entrepreneur Entrapment Syndrome? Will they make the decision to DO IT!
To sum up, if an entrepreneur does NOT learn the art of embracing the mundane step-by-step effort of building a business, then the unproductive cycle of chasing their next big idea, the Entrepreneur Entrapment Syndrome, will continue.
To be fair, it’s possible to “win the lottery” or “catch a rainbow with a pot of gold.” HOWEVER ...!
Did I mention? Great Systems Work!
Philip Beyer, founder/president of Ebiz Products LLC and founder of Beyer Printing Inc. in Nashville Tenn., is a chronic entrepreneur, business systems analyst and consultant. Author of "System Busters: How to Stop Them in Your Business" and recipient of an InterTech Technology Award for the design and development of System100 business process management software. Beyer speaks to business owners across the country on how to bring lean, sustainable order to their businesses. Contact him at (615) 425-2652.