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Please choose only one:
A - You'll ignore this new business opportunity and stick to your currently running business
B - You'll go ahead and cease this new business opportunity and find the time, effort and funds for it.
C - You'll pass this new business opportunity to another friend / colleague
D - You'll look for a business partner and do a joint venture with him/her on this new opportunity and hence pay for half the capital and you'll put in half the effort and time needed.
D - You'll look for a business partner and do a joint venture with him/her on this new opportunity and hence pay for half the capital and you'll put in half the effort and time needed.
But instead, I'll pay 100% of the capital and hire that partner to manage my business.
Knowing myself and my inability to just leave something unfinished, I would choose D simply because it would give me the opportunity to complete the project at hand and venture off into a new endeavor.
option " D " To make mix business and the current that is normal for first year some period take 3 years then start get revenue
A - You'll ignore this new business opportunity and stick to your currently running business.
I believe in being focus in the task at hand. Opportunities will come by but building up a sustainable organization need patience and time. I believe the reward and future opportunities that more in line with the existing business will come.
As a matter of fact I've been running a restaurant business with two co-founders for a year now and are now close to the break-even point. It is hard to stay focused in this era because of numerous innovations and what one can do to be an entrepreneur.
My answer to the above question definitely would be option B. Though being close to the break-even point makes us vulnerable to take significant steps we would undoubtedly choose to go for a diversified option too.
But this step requires funding to move forward and we would rely on angel investors.
Only way we could show the investors our progressive future is our founding business success where we are inches away from making actual profits in such a short time.
Time is crucial here and we would settle on an agreement to partially handle the business until commenced. This will require more effort than ever, but then again oppurtunities like this won't fall of the sky.
Like Warren Buffet once said '"Don't put all your eggs in one basket and have more than one source of income".
And finally entrepreneurship is living a few years of your life like most people won't, so that you can spend the rest of your life like rest people can't.
Hope this helps!
Thank you.
while it is very tempting to go for the new opportunity in anyway. I would stick to my work, focus on it and continue its success. this is my baby and the more it grow the more it needs me until it is strong enough to go on its own way.
That is my answer is A for sure.
Thanks for invitation, I will go for option (D)......will look for a business partner and do a joint venture with him/her on this new opportunity and hence pay for half the capital ...etc.
D - You'll look for a business partner and do a joint venture with him/her on this new opportunity and hence pay for half the capital and you'll put in half the effort and time needed.
B - I'll go ahead and cease this new business opportunity and find the time, effort and funds for it.
The reason: Lessons From Mega-Entrepreneur Richard Branson “I sometimes think in life I’ve got to dream big by setting myself seemingly impossible challenges. I then have to catch up with them. I can make what people believe is impossible possible if I set big enough targets.
