The Entrepreneur and the Valley of Death

As the name implies, the beginning period is not picnic. It’s a tough time to get through in tact. You don’t have enough financing. You don’t have all the skills and resources you need. You can die in the valley if don’t get enough customers and money to cover cash flow.

Yet, in so many ways, this starting period is the most valuable time you will ever have as an entrepreneur.

It’s the time when you can create tremendous value out of nothing. You’re creating a new product or service where there was none before. You’re positioning the brand so it can stand out in the marketplace.

You’re creating Intellectual Property with a brand name, and its look and feel. You’re starting to build a reputation for the new brand and Brand You. You’re developing tangible assets such as your product, equipment and even real estate.

As a bootstrapping entrepreneur, you’re creating so many valuable brand assets during the beginning phase that will set the course for brand success or failure. The beginning period, this Valley of Death, may be your riskiest time, but it is also your most valuable time creatively and strategically.

Yet, many entrepreneurs rush to market, shortchanging the formulation phase.

They want to have a business, yet they don’t have a fully formed and viable idea.

Or they have a copycat idea. Or a gargantuan, overly complicated idea.

Or an idea that tries to appeal to everyone and therefore is destined for failure. When you try to appeal to everyone, you appeal to no one.

If you don’t use this beginning phase well to build your brand assets, you will not likely survive the Valley of Death.