Tilting at Windmills

"Fortune is arranging matters for us better than we could have shaped our desires ourselves. . ."  - Don Quixote 

At the start of this semester, the process of becoming an entrepreneur seemed much like the story of Don Quixote jousting with windmills he thought to be giants. My lack of knowledge defeated my confidence on a regular basis. Just like the knight of Miguel de Cervantes’ famous story I felt that the primary skills necessary were a vision and the tenacity to pursue that vision, come what may - that Fortune favors the courageous fool. This week, my viewpoint  took a giant leap forward from delusion to understanding.

“So You Want to Be an Entrepreneur”, published in 2008 by the Acton Foundation for Entrepreneurial Excellence, outlines some of the skills necessary for success. Here are the three main skills:

In-depth knowledge of the competitive structure of an industry and a network of contacts within that industry.

There are two ways to acquire this necessary knowledge – learn them yourself (which will probably take years to accomplish), or find a partner who already has them. I immediately thought of industry mentors. Although it is my goal to become a mentor to others, in the beginning I will need several mentors myself. While pondering on this principle, the thought came to me that I can start building my network of experts now.

The skills to run the daily operations of a small, rapidly growing company.

The best way to learn how to run a business is by working in the operational management of a business, either large or small. This is a bit unsettling because it will eventually require that I give up my comfortable career in order to pursue my dream. Knowing this now will help me create a plan to prepare. When the time comes to make that change, I can be ready.

The ability to raise money.

This skill is listed as the least important. In my own business, I plan to fund my company through capital saved while I am working and preparing.

There are still many questions to be answered, and other steps to take along my journey. But I  understand that I can begin to move forward now, even though I am still a student.