This is the advice that my wise brother-in-law, Denver, gave me back in 2010 when I asked him about what business opportunities I should pursue. At first, I was a bit annoyed because it wasn’t the answer I wanted to hear. What I was seeking was insight for choosing the best idea out of many. I had brought myself to a standstill because I simply couldn’t make a decision … I just couldn’t live with the thought of going the wrong direction.
Just Pick Your Horse and Stick With It!
What Denver was saying made sense, but things became more clear as he explained his thought process to me. I am a serial entrepreneur (like my dad before me) who can find at least one new idea every day that could be a sustainable, profitable business venture. Opportunity is everywhere, and if you really open your eyes, you can see a very big world of possibilities. The problem is that when you see too many opportunities, you will come to a
fork asterisk in the road.
It’s impossible to walk down two or three roads all at once. Each road presents potential rewards, but you have to make a choice and then you have to commit to travel it to the end. If you keep going back to try other roads, you will lose important momentum and may never reach any destination. Ever.
I’m extremely guilty of starting down a path only to stop and run back to the asterisk in the road. Denver knew this about me and that’s why he gave me this hard-to-swallow pill. He knew that I would be successful with any one of the business ideas I shared, but he also knew that if I never chose my horse and rode it for all she was worth, then I would never cross the finish line.
What Horse Will You Pick?
Chances are you’re also sitting at a crossroads today. You have some great ideas you are passionate about and want to pursue, but you just can’t make any progress because you can’t pick one. It’s difficult, sometimes even painful, to think that you must let go of the beautiful horses in your stable, but you can’t ride them all at once. How do you decide?
- How long will you stay committed to the business? If you will get bored in six months and lose interest, it’s not a good idea to choose.
- What business opportunity would bring you the most personal fulfillment AND have people willing to pay you for your product or service? It’s equally important to be passionate about your work and to actually make a living.
- Why do you want to do this? If it’s just about money or fame, you will likely not see it through. Know your “why” before you decide.
- When can you start? If you can do it within 90 days, that’s better than an idea that takes several years to get started. You have to launch.
- Where can your business take you? Will it be limiting in the form of customers, income potential, ability to grow or outsource, or constrain you? You may not want to be limited or have a “shelf life” for your business.
Ultimately there is no magic formula for helping you to make a decision. You just have to ask questions and then go with your gut feeling. You pick the horse you believe to be the best candidate for winning and you ride it for all it’s worth.
Need help or a mentoring group?
I am starting a new mentoring group this fall and will be releasing the information soon. My goal is to build a small, core group of entrepreneurs willing to invest in each other’s lives. If this is something that may interest you – and you would be fully committed – send me your information and I will be sure to provide you with details when they are ready.