Having doubts, confusion and
anxiety before starting a new business is very natural. But do you let these
fears overtake your decision to start on your own? Five common myths among
young architects starting their own firms can be described as:
1: Architects from only rich and elite class can be successful in the practice:
Long time ago, the architecture was considered a profession of the elite and most successful architects would be seen moving around with rich friends for their projects. Only time has changed, practice today is like a swimming in an ocean. You can get as far as your strength and passion allows you.
2: Out of 100 start-up firms only 70 survives over the period and very few reaches the heights:
True and False, many people join the bandwagon even if they don’t know how to play their pipe or without adequate rehearsal. There is no place for unfit pipers in the band. If you practice sound business planning and understand the importance of management, you are more likely to make a stable and solid business.
3: I have enough money and courage, so I don’t need to bother about business plans:
Money can finance the firm but cannot drive the firm. It is a recognized fact that well equipped soldier can fight better. Detail understanding and analysis carried out in earlier phases, will keep you from unforeseen hurdles and anxiety.
4: I will be successful in a short time as I am a good designer and a good communicator:
Successful business runs on at least four wheel, i.e. technical, entrepreneurial, managerial and emotional skills. Don’t be overconfident about one of your accomplishments. Learning to balance these four aspects will decide the rate of success in your firm.
5: I have prepared my business plan and I have appointed top marketing agency, then success is bound to occur:
Marketing tool is to create awareness about your firm. And business plan is your alert program which directs your actions and needs continuous evaluation. These are efficient instruments for attaining success. It’s like you can take the horse to water, but you can’t make him drink. Ultimately the public presentation and commitment of your team will be responsible for your success.
My experience as an entrepreneur and the examples that I gathered from last 40 years in architectural business, tell me that:
1: Architects from only rich and elite class can be successful in the practice:
Long time ago, the architecture was considered a profession of the elite and most successful architects would be seen moving around with rich friends for their projects. Only time has changed, practice today is like a swimming in an ocean. You can get as far as your strength and passion allows you.
2: Out of 100 start-up firms only 70 survives over the period and very few reaches the heights:
True and False, many people join the bandwagon even if they don’t know how to play their pipe or without adequate rehearsal. There is no place for unfit pipers in the band. If you practice sound business planning and understand the importance of management, you are more likely to make a stable and solid business.
3: I have enough money and courage, so I don’t need to bother about business plans:
Money can finance the firm but cannot drive the firm. It is a recognized fact that well equipped soldier can fight better. Detail understanding and analysis carried out in earlier phases, will keep you from unforeseen hurdles and anxiety.
4: I will be successful in a short time as I am a good designer and a good communicator:
Successful business runs on at least four wheel, i.e. technical, entrepreneurial, managerial and emotional skills. Don’t be overconfident about one of your accomplishments. Learning to balance these four aspects will decide the rate of success in your firm.
5: I have prepared my business plan and I have appointed top marketing agency, then success is bound to occur:
Marketing tool is to create awareness about your firm. And business plan is your alert program which directs your actions and needs continuous evaluation. These are efficient instruments for attaining success. It’s like you can take the horse to water, but you can’t make him drink. Ultimately the public presentation and commitment of your team will be responsible for your success.
My experience as an entrepreneur and the examples that I gathered from last 40 years in architectural business, tell me that:
- Start-up firms
take longer time to establish than estimated.
- People are
slower in trusting and appreciating your work/ideas than you imagine. Be
more patient
- You can
participate in the engagement by being soldier, captain, major or general.
It’s up to you to put the hard work and choose your position.
- Entrepreneurship
is an art of acquiring capital and providing leadership for creating,
nurturing and growing your ideas.
- For startup firm
marketing is getting first few jobs! Word of mouth is most economical and quick.
Today’s time you can spread the word quickly by blogging, micro-blogging,
social networking and public events. etc.. Use the best of technology.
More related articles on
Organisational issues of an architectural firm, read here:
The points you have mentioned are very true. Specially, "Money can finance the firm but cannot drive the firm". People thinks that they have money and they can do anything. But, its a fact that 2-3 rookies can't do that easily, what one expert can do. So its good to higher an expert instead of hiring an army of rookies.
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