For entrepreneurs, sometimes the long way to success is best
Running a business is exciting, but rushing things and cutting corners can put the most motivated entrepreneurs at a disadvantage. Sometimes entrepreneurs face an opportunity that is too good to be true when starting out. The question is, should they take the opportunity?
Unfortunately good fortune can turn out to be a pitfall if hasty actions take place. The road to success is long and there are many steps along the way, starting with incorporating your business. A strong business requires a solid foundation. Entrepreneurs should take the time necessary to ensure this happens. It is paramount to what the future will hold in terms of success or failure.
This point is made in an Inc. magazine article that details the story of a young entrepreneur in Brooklyn who created a business making artisanal saltwater taffy. Her business was doing well and she envisioned owning a storefront where customers would be able to witness the taffy-making in action. However, since she did not have the funds for her vision, she had to determine another way to generate more revenue. At this time, another business owner approached her with a partnership offer that would make her dream a reality. However, it ended up being a bad idea after she realized the partnership would have failed.
What can small business owners learn from this story? It is important to note that just because one road might get you to your destination more quickly, it doesn’t mean that you should take it. Had the owner of the saltwater taffy business made a bad partnership move, it could have cost her her business.
In some cases, a shortcut or lucky break may turn out to lead you down a quicker path to success. However, before you decide, be sure to weigh the pros and cons of any opportunity that comes your way.