We have heard that location is everything but that is an incomplete thought. Location and timing together create an environment for success. You can be in the right place at the wrong time and vice versa. As a business owner a large part of your success will be your ability to spot the correct environment in which to enter into business. The tricky thing about environments is that they are dictated by the market, geography, economics, politics, and timing. They are constantly in flux because of these variables. Here are a few points to look for when evaluating the environment.
1. A sense of urgency. Looking at the environment you need to have a sense of urgency to get your product or service to market. This has two functions. First, it will drive and motivate you and your team to move the project forward without hesitation. This will require you to not only believe in your product but to also be a high performer. The second function is that urgency serves as a good test to the market. It will be a way you can get a sense of how much demand you have for your product and will help tailor your marketing and sales strategies.
2. Little to no red tape. When starting a business the way policies, regulations, and restrictions effect the operation of your company will matter. Regulations are inevitable, however you must find the environment that has as little of these restrictions as possible. My family started a tattoo business while I was in junior high. Our first two years of business planning were spent finding the correct environment to open. With the miles of red tape associated with the tattoo industry we had to be patient and wait for the right environment to present itself or else we would have never even made it to day one.
3. Source talent from the largest pool possible. The last point to finding an ideal environment for business success is to create the best team possible. Your office environment is just as important as the world around you and you can take advantage of modern connectivity to source the very best talent. Think of your employees as a team. On a team everyone has a different role to play and some are better than others at certain tasks. Try to view your business this way and insert players who have strengths and weaknesses that help the overall success of the team. Having a wish list or job description is great, but remain flexible enough to see the unique strengths of your employees and then take advantage of those strengths.
Spotting the right environment for success is crucial to your livelihood as a business owner. Do the groundwork and evaluate each factor before launching. A captain would never leave shore before having an idea of the weather, tide, distance, ect… so why would anyone launch a business before auditing the environment? Be a good captain and launch at the right time. Good luck from the Setster team happy sailing.