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Ep. 85 - When to Launch a Business
Manage episode 482772666 series 3556805
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Thinking of starting a business? Stop waiting for the "perfect moment" because it doesn't exist. That's the core message we tackle head-on in this candid conversation about entrepreneurial timing.
We shatter the myth of first-mover advantage, revealing how second movers often win the game by entering markets where customers already understand their need. Being too early means educating an unaware market, which can be exhausting and expensive. Meanwhile, waiting too long means fighting through a crowded field of established competitors.
One powerful insight we unpack: buying an existing business might be smarter than starting from scratch. Most established businesses suffer from two fixable problems—inefficient processes and poor marketing. With fresh energy and modern approaches like AI implementation, you can transform moderate success into significant profitability without the cold-start customer acquisition struggle.
The conversation takes a philosophical turn as we examine entrepreneurship as a purpose-driven calling rather than merely a financial decision. We share personal reflections on the entrepreneurial mindset—how true entrepreneurs never really "retire" because their drive to create can't be satisfied by leisure alone. This explains why successful founders who experience lucrative exits often launch new ventures instead of riding off into the sunset.
Whether you're contemplating your first business or your fifth, this episode offers practical wisdom about timing, purpose, and the undeniable reality that the best time to start is now. Because tomorrow won't be easier, market conditions won't be perfect, and your preparation will never feel complete. The only question is: are you ready to get nasty and jump in with both feet?
Chapters
1. Just Get Started Already (00:00:00)
2. First Movers vs Second Movers (00:08:35)
3. The Value of Team Building (00:15:30)
4. Customer Diversification: A Competitive Advantage (00:20:55)
5. Financial Analysis vs Action (00:27:45)
6. Finding Purpose Beyond Profit (00:34:30)
7. Timing is Less Important Than Commitment (00:43:30)
8. Episode Recap and Closing Thoughts (00:51:30)
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