Lots of people have business ideas, and many of them are content with the idea alone. However, even fewer individuals actually capitalize on their ideas.
There is a misconception that entrepreneurship is an inherently risky endeavor, and that the reason most people do not act on their ideas is because they are unwilling - or unable - to embrace such risk.
But the reality is much different than the sensationalized depictions found in the media. No one denies that risk is a part of any business venture, but risk is everywhere. It's in taking a new job, applying for a business loan and filing an LLC in New York City.
Business Insider contributor Joel Ohman argues that the willingness to launch a company is less about the risk factor than it is mere determination.
"After all, it's nice to think that, 'If I wanted to actually start a business I would definitely be successful,'" he writes. "However, actually taking action means that it's time for the proverbial rubber to meet the road and with it the potential for that idea to both succeed and to fail."
Tags : how to incorporate, ny, operations, small business management
Posted: Apr 8th, 2011