From Relevant Magazine – Eugene Cho
5 Things Every Entrepreneur Needs to Know
Eugene Cho on what it takes to turn a vision into a reality.
After having started three fairly large undertakings with planting Quest Church, starting a nonprofit community cafe & music venue, and most recently,One Day’s Wages, I can tell you that I’ve made some mistakes and blunders along the way. There’s many and each of these can be a chapter of a book but here’s a quick summation of some of them. Here’s five important pieces of advice I can give to especially those who are starting something new including church plants, nonprofits, businesses and anything else you can think of that involves working with other people.
1) Expect Sacrifice and Cost
There’s a cost and sacrifice. Just remember that because the minute you forget that is the moment you’ll get kicked in the gut. Pursuing visions and dreams will always cost you something and more often than not, it’s not just one thing.
For the record, I won’t listen to anyone that’s not willing to sacrifice something for their visions and dreams.
2) Expect the Entrepreneurial Exodus
With every endeavor, there’s always been a small exodus of people that disagree, misunderstand and eventually depart. I call it the Entrepreneurial Exodus and yes, I just made that up. When we finally launched the church, people left. When I was stupid enough to launch a building campaign in the first year of our church, and when we renovated the building and started the cafe, people left. When another church “merged” into Quest, people left. When One Day’s Wages was getting started, people left. Starting new things open you up disagreements, criticism and the entrepreneurial exodus.
It’s not ideal but it happens. There’s a reason why it’s been documented that in the process of a church engaging and finishing a building project, up to 30 percent of a congregation leaves. And as you plan for sacrifice and cost, you can expect some of it will come in the form of friends and partners heading out the door.