How to make that final leap?

So I have this idea for a good startup. I've set up a prototype and proven that it works. I have filled in the forms, done all the bureaucracy, know almost exactly how much I need to keep it running, how long it would take to get it profitable. I can write a good, fairly accurate business plan and have what could be a successful business model.

However, I've started another business before that and had a bad experience. Staff kept skipping work. My business partner and one supplier were fraudulent - they promised me some things, then decided to change their minds right before signing anything. I've made enemies of my former partner, who works in the same field.

Since everything went wrong, I'm quite hesitant to do it again.

I still have some risks to take. Like I don't have anything signed with the current suppliers. I don't actually have funding yet, although I'm quite sure that it's possible to get it funded because I have solid data from my last company that supports it. It would do well even if crowdsourced. There are also some major resources I need to secure. Worst of all, I need to get staff in a country that's suffering from a bad case of brain drain and salary inflation.

I have a strong feeling (and data) that this will work. But something in my gut tells me that there's something I left out or that I made a false assumption somewhere.

I'm suffering from paralyzing fear of taking that last leap past the point of no return. How do I convince myself to take that last step (or decide to cancel it)?

The Idea is Key I'm going to assume that your idea is a great one, at at the very least, a good one. That's the leading factor here. If you're not confident in your idea, stop reading now; don't waist your time. If you believe you have a million dollar idea and can support that, read on.

Strengths and Weaknesses Every person has strengths and weaknesses. Having a great idea doesn't necessarily make a successful entrepreneur. You can have perfect ideas and execute them badly for an outcome of 100% flat failure.

And that's what it sounds like, to me, happened to you. When you get into business, if you're the spearhead of your operation, you have to be ready to cut some throats and play serious hardball. The world of business is not simple, it's not easy; here's an example that should help.

For Example If you put a flat stone at the end of a spear, it doesn't matter how nicely you've engineered that spear shaft. Its going to hit your target, bounce off, and fall flat.

You're a spear engineer. Don't ruin your great shaft by putting a blunt spearhead on it. Find a sharp stone to lead the shaft while you do what you do best: Engineering the operation. Not leading the venture.

Play Your Part Find yourself a sharp spearhead. A person that knows how to play hardball, someone who will not let your company be pushed around by your resources nor your employees. Let him do the talking while you run the venture from behind the scenes. To make your great idea succeed, you have to play the right part. Go to the meetings, explain what needs to happen, make sure you receive the right cut of the profit as the founder, but do not cripple your operation by trying to play the wrong part.

Bringing your great idea to success Every business is different. In many cases, the head of the operation does the talking and the product engineering. In other cases, the two jobs are separate, and two people work together to make this happen. Neither version is more or less effective; the setup that's right for your company is defined by the strengths an weaknesses of it's leaders. If you've failed in the past, that's ok. Failure is constructive, if you use it properly. Learn from your mistakes; Use your strengths where they're most useful, and where your weaknesses lie, find great people with the right strengths to patch those areas up.

Finally If you combine your great idea with the right execution, the right combination of people, you'll be successful.

The right personnel makes the difference between convincing those key suppliers and investors to follow your project and them leaving the minute before the contract is signed, or possibly never speaking with you in the first place.

There are 2 positive things:

• A) you get experience during your first trial (fraudulent partners, problems with staff,...) AND you get the lesson - you are aware of it
• B) you are aware of the problems you are facing in your new project. There will always be problems and it is infinnitely better to be aware of them than to advance with "eyes closed and fingers crossed"

For this two reasons, I think you are on the good way.

Concerning the "gut feeling", it is obvious that higher the stake is, more scared you (and almost everybody) are about the possible failure.

But it is not a secret: "if you do not try, you'll never know" . And what will remain then? Just regrets and "what-if's ".

Do your best, analyse as well as you can and try to cope with all possible issues. And then you will see. There is no alternative (a part selling your idea to someone and watch him succeed or fail). It's not simple to be entrepreneur. It's risky... But admittedly, that's why we are doing it, no?

You are aware of the issues you face and that's already a very good sign for the future...

Good luck!