Kevin Vogelsang: The Big Question that New Entrepreneurs Miss

 I probably still count as a new entrepreneur.  But, I’ve been around startups for several years and founded one.  That’s a significant difference from someone who’s just setting out on pursuing an opportunity, so humor me.

The Big Question that everyone seems to miss is the most obvious.  Amidst all the excitement, new entrepreneurs forget to ask: “Why do I want to do this?”

The two most common answers:

 1. “For Profit”

Well, I hope you’re in it for profit, and I hope it’s a big opportunity.  But there’s also a big chance that it will fail and that it isn’t actually a big opportunity.  If you’re a more experienced entrepreneur that has built a business before, and are sitting on some money and some success, this is a perfectly fine answer.  But, if you aren’t, you better be sure to assess the brutal facts before you dive in.  Luckily, people will make fun of your idea and tell you it won’t work enough that you’ll probably just give up.

2. “A lot of people have this problem” 

This is a better answer for a new entrepreneur.  But, my first question in return is, do they?  And how do you know? And does it matter to you enough to be poor/frustrated/stressed/have a 3rd mortgage?

The best answer by far for a new entrepreneur is “I have this problem.  I want this company to exist.” Personal need is powerful.  First of all, you are your customer.  You understand what you need to make.  Second, if the problem is one that you really want to solve, it’ll keep you up at night.  You won’t be able to stop thinking about it.  And this is the perfect state to be in, because when you’ve started your company, it’s going to be in the back of your mind all the time then too, so you might as well start getting used to it. 

I have to wake up in 4.5 hours.  But, I figured I’d write this post.  I can’t sleep because I have a company on my mind and visions of dreams come true dancing through my head.

Kevin Vogelsang is a writer and entrepreneur focused on developing technology for identifying experts that share their knowledge online. He’s also currently building Vogel Labs, a community of people that work together and love what they do.  He is the author of 10 Powerful Personas and blogs at KevinVogelsang.com.  Follow him on Twitter @KevinVogelsang.

Photo Credit: Marco Bellucci on Flicker