We do not do 90% of the things we can be doing because we’re waiting for the stars to align. The truth is they rarely do. We talked to the CEO of IdeaPros, Fred Cary, about entrepreneurship and opportunities and why timing may crush both.
Grab That Opportunity!
There is no such thing as the perfect moment and when it does it rarely aligns with the opportunities that come your way. As entrepreneurs, we are afraid to do something before we feel ready. Although one part of the entrepreneurial path includes careful planning, the opportunity part is sporadic, and it can happen any time. Chances of timing the perfect moment and a great opportunity are minimal.
“The business opportunities that come your way are going to come when they’re ready to come. Not when you’re ready to receive them.” – Fred Cary
As an entrepreneur, you have to grab any opportunity you can benefit from, even if you don’t have everything in place. If you are waiting for a perfect moment, there may be no opportunity for you. It’s better to go out there and do something imperfectly than wait and lose your chance.
“Opportunity first being prepared comes second.” – Fred Cary
Embrace The Chance
Fred became an attorney by chance. He did not incline to be one, as he was producing concerts and managing brands at the time. A law firm he was negotiating with offered him to become a partner if he finishes law school, and he accepted. It’s been instrumental to the rest of his business career as it let him think more openly, take down a lot of barriers, and consider all the possibilities.
The other example is Imagine Communications company, where Fred was one of the founders. The HD video was coming into play, and the cable companies couldn’t support it. They needed at least one and a half megabytes for it, and they had only one. Fred’s company built a technology that solved the problem. When they started, they had no idea what to do, but they managed to create a technology that quadrupled cable companies’ throughput using the same infrastructure. We weren’t ready for it, but we went after it and found a way to make it happen.
If he had said “no” on those two occasions, two golden opportunities would have just gone past.
Change Your Mindset
To take advantage of opportunities, you need to change your mindset. Believe you can do anything. You will fail some of the time, but that is better than not even trying. Always grab the opportunity and then figure it out along the way. Being an entrepreneur is like jumping out of an airplane and building a parachute on the way down. Launch your product or app even if it’s not perfect and start moving things along.
“Don’t demand perfection, demand action.” – Fred Cary
Surround Yourself With The Right People
Surround yourself with people who empower you to take advantage of the opportunities. Even when you don’t feel ready, a supportive team who can contribute mentally and strategically can help you get along. Don’t forget you can’t have a great business without having a great person that runs it so, work on building yourself as a person, too.
Don’t Dwell On The Past
There are always opportunities we miss, but dwelling on them doesn’t help us move forward. Many entrepreneurs had ideas they didn’t act on, only to later see them as successful businesses someone else founded. Not executing on an opportunity is a great lesson, as you react differently to the next one that comes your way.
“You can’t live in the future, and you can’t live in the past. You have to live in the present.” – Fred Cary
Learn from the chances you didn’t take and use the future for your vision, purpose, and the goals you have. Focus on the present, build your skill sets, and don’t forget to be optimistic. Believe in yourself and keep an eye out for the opportunities that can come and change your life.
The “Idea Pros” at IdeaPros have the resources, experience, and tools to help you at this step or any step in the entrepreneurial journey. We partner with entrepreneurs at any stage and who are ready to invest their ideas. Apply for an interview and let’s explore partnering together.