How do I cope with being viewed as ignorant as an entrepreneur?
As a first time entrepreneur, how do I cope with people's first reaction that I am 'ignorant' when discussing my plans to start my own venture.
You don't. Better use it insted. People tend to underestimate those who judge as ignorant and reveal enormous quantity of information that otherwise would keep strictly. Use your brains and get the most of it. Don't let your EGO speak, if you are an entrepreneur, you are there to akd, not to feel offended or hurt.
Don't worry what other people think. You have to be confident in your new venture. Otherwise it won't be successful.
An entrepreneur by definition intends to create something that doesn't yet exist. We are all ignorant of what your dream will be.
Be humanistic in your path. Humbly and bravely embrace any ignorance as an opportunity to learn. Ask those who criticize to help.
Everyone has an opinion and they are entitled to it. Remember that. But these are opinions. If you do your research and have a sound strategy, you're not ignorant. Failure is also not a bad thing. I learn more from my mistakes than successes. Just make sure you surround yourself with people that you feel confident will give you sound advice. Tell the rest to pound sand.
Actually claiming to be an entrepreneur could effectively announce a disturbing level of commercial ignorance.
Whenever I see the word ‘entrepreneur’ I cringe, as it is both a cliché and one of our language’s most abused. I am reminded of the quote attributed to George W that, “The problem with the French is they have no word for entrepreneur.” This may have been a media invention but it illustrated perfectly how arbitrary the term has become as most business owners erroneously consider themselves entrepreneurial.
Here is a post on this very subject - https://www.linkedin.com/pulse/20140913044104-10144319-we-don-t-believe-you-are-entrepreneurial?trk=mp-reader-card
Do not be disheartened by the comments from "people". It is easy to be an employee but it takes great responsibility and ownership to be a business owner. Maybe you don't want to be "mixing" with these people. Stay focused, have a strategic plan, short and long term goals for your business. Get clarity on yourself, on your business, on your customers and of course your competitors. This will enable you to breakdown the big business idea into smaller actionable and achievable tasks. Good luck!
Follow your heart, Pradeep! Everyone had to start somewhere. Of course do your homework and listen to professional advice. But don't listen to naysayers. This might sound simplistic, but it's a fundamental truth of being an entrepreneur.
Ignore.they are either jealous or do not have the vision you have for your idea/concept. I've been called naive many times. This is your dream.
Just be honest and admit what you don't know but indicate you are willing to learn. If you don't let their reaction bother you, then you'll learn a lot that will help you move ahead with your business.
There's nothing wrong with being ignorant to something, especially when you can admit to it. It's being too prideful and not being able to admit when you need help that shows weakness. That's why we must surround ourselves with people who cover our blind spots and weaknesses. Hope this helps!
You need to develop a business plan replete with mission and vision statement...Someone like me from Score will be able to help you...Look for a Score office near you, make an appointment and get started with a mentor
Many people who have experience can hear the voice of inexperience in a beginner. Don't acknowledge it as them thinking you're ignorant although you might be. When we're younger things look differently then when we're older and with experience. Play your cards close to your chest and don't feel the need to convince others of your plans and ideas. Many times it's best to keep these things from yourself at least for the sake of someone taking your ideas.
Also, experienced business owners don't talk about their dreams and may be less likely to do business with someone who is in the stage of starting their own business for lack of longevity and experience in that field.
Always portray yourself with the knowledge you have and with humility. No one needs to be convinced of anything but that you're honest about what you know.
Having an open mind and being aware that we don't know is actually much more beneficial than acting as if we know the answers.
People who fund generally understand that entrepreneurs dont know all the answers. The rest don't matter. Just have to develop a thick skin and ignore as best as you can.
Patience my good friend! Humility my dear! With your dynamic business plan in place, a positive outlook and attitude will get you there; and believe me good fellow, persistence will never fail you. So, go get it; and do make a great business.
You aren't alone. Most new entrepreneurs are ignorant. We ALL had to learn. If you're worried about what people THINK of you, stop. You're wasting good brain time on things you can't change and don't matter. If you must face a banker or someone who is actually going to potentially contribute to your venture, then take time to learn what you need to know before you share your ideas and plans with them. There are many books, online forums and even other entrepreneurs you can learn from. But if the person is just a friend, family member or stranger who is looking at you with contempt? IGNORE THEM. Focus on your dreams, goals and plans. Do not cast your pearls before swine.
First, establish yourself as an expert by thoroughly knowing your industry. If you have that knowledge, start blogging and posting useful industry specific information on social media or in trade magazines. In other words, share your knowledge. More important, Never let anyone measure you by their yardstick! You have a vision of becoming an entrepreneur, do not lose sight of that. You see yourself as an entrepreneur so don't let anyone else's opinion change that. Study other successful entrepreneurs, interview one if possible to understand the entrepreneurial mindset. Finally, surround yourself with positive people who believe in your vision. You.may find that you lose some friends who do not share your vision, but that's okay.
By putting together a business plan as soon as you can about your new venture so that you will have gone through and analyzed the totality of the process involved in starting and managing a business for profit. After you have done that and the results of your research of all that needs to be considered in terms of time and money, including a break-even analysis for the first year of operations, is positive in terms of generating a profit - then you will be in a position to explain your plans for starting your venture to anyone. Without developing the business plan and the break-even analysis for the first year of operations, you will be dreaming and unable to confidently answer questions.
What is there to cope with? It is your business and maybe they are not seeing things the way you see them because it is not their business idea.
Great answers I've seen here. I'd like to chime in with a few things.
1. Basics of Finance. While this may seem obvious, over half of the entrepreneurs we work with have no idea how to read financials. Assuming it doesn't matter and you have people for that...is ridiculous. Learn about cash flow and balance sheets, at least.
2. Basics of Project and Personnel Management. Another obvious one, learn the basics of managing people. See what expectations are there, what others are doing, and craft your own style and approach. Also, learn how projects are managed.
3. Basics of Marketing. Marketing is more than renting a billboard. Learn the basics. Whatever industry you're in, at least know the vernacular and basic tenets of marketing techniques. This is how you broadcast your brand and create an opportunity for sales.
4. Basics of Life. People are inclined to poo-poo ideas to begin with. Don't get too caught up in the career desk jockey's advice to ask for a raise and be happy where you are. Most entrepreneurs rise above that criticism and doubt at some point and learn socially acceptable ways to deflect criticism.