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Entrepreneurship faces an issue with inflated expectations. Social media is awash with tales of groundbreaking startups, enormous valuations, and pitches for the next big unicorn. However, the reality is that fewer individuals are truly embarking on sustainable business ventures. The allure of extraordinary success often overshadows the fundamental principles of effective entrepreneurship.
Today’s entrepreneurs often find themselves not hindered by a lack of opportunities, but rather by an overwhelming desire to create something monumental. In their quest for uniqueness, many overlook the fact that successful businesses are typically built on consistent execution rather than groundbreaking ideas.
In my book, O Empreendedor Smart, I emphasize that “smart entrepreneurship” involves understanding that you don’t need vast resources to achieve significant results. It’s about starting with a clear vision, applying effective strategies, and executing them daily.
Related: Achieving success stems from solving real issues rather than chasing after unicorn fantasies.
The fallacy of the perfect idea
The notion of the flawless business idea is widespread. Many prospective entrepreneurs spend years hunting for a singular groundbreaking concept, the ultimate product or the perfect timing. However, as reported by CB Insights, around 70% of startups fail, even after receiving substantial funding, and less than 1% attain unicorn status. In contrast, a Business Insider study revealed that most self-made millionaires cultivated their wealth through traditional, profitable ventures.
We often idolize unicorns without considering the steady, foundational efforts behind most successes. For many, entrepreneurship isn’t about astronomical valuations; it’s about creating something durable that generates consistent income. It involves assembling a small team dedicated to solving tangible problems, allocating resources wisely, and effectively serving a specific audience.
Many aspiring entrepreneurs I encounter have spent years preparing to launch their ideas. They delve into research, follow influential figures in the business world, and invest in various educational resources. Yet, they often fail to take action. Why? Because their concepts don’t feel “big enough.” That mindset alone has stifled more ventures than competition ever could.
The reality is that developing something functional holds far greater value than fantasizing about an unattainable dream. The market rewards those who launch, test, and adapt, rather than those who hesitate.
A practical, cost-effective model
At Coworking Smart, we chose not to reinvent the workspace. Instead, we adopted an efficient, low-cost model, offering virtual office services starting at R$49/month, fully automated to meet the needs of small businesses. Our approach was more about management than glamour. As I note in my book, “Revenue may impress, but profit sustains.”
We didn’t commence with heavy investments or flashy technology. Our journey began with a straightforward Excel spreadsheet and a single rented room. Today, we operate across four major cities: Brasília, São Paulo, Belo Horizonte, and Rio de Janeiro, serving a multitude of entrepreneurs.
Our aim was never to build a unicorn, but rather a smart business. This focus on minimizing expenses, simplifying processes, and investing in both people and systems laid the groundwork for a replicable and sustainable business model.
Our success stemmed from prioritizing what truly matters: customer experience, cost management, operational discipline, and sustaining long-term value. In today’s competitive landscape, excelling in the fundamentals is a remarkable advantage.
Related: Working on a viable idea is more fruitful than dreaming of a flawless one.
Three strategies for building a business, not just an idea
1. Begin with what you have
Conditions will rarely be ideal. What counts is momentum. Starting small can often yield better results, enabling rapid feedback and learning while minimizing risk. As highlighted by the Harvard Business Review, launching on a small scale allows companies to adapt swiftly. Waiting too long to take action can prove to be the most detrimental choice.
You’re not too early; rather, you may be second-guessing yourself. Begin with one offer, one channel, or one client. Action is the most effective business strategy.
Many entrepreneurs mistakenly overestimate what is necessary to get started. Instead of focusing on securing an office, designing a logo, or creating a perfect website, prioritize establishing a clear value proposition, identifying a target audience, and committing to learning through practical experience.
2. Employ robust management strategies from the outset
This involves understanding your metrics, utilizing data for decision-making, and establishing operational systems. Research from McKinsey demonstrated that startups which successfully scale are those that integrate management processes early in the development stage.
A frequent inquiry from entrepreneurs I mentor is, “When should I begin implementing systems?” My response is always: Immediately. Management should be a fundamental aspect from the beginning, not something to address later.
Utilizing simple dashboards, conducting weekly check-ins, and employing basic CRM systems cultivates rhythm, accountability, and transparency. Don’t wait for complexity to arise before you choose to organize.
3. Establish a strong culture before scaling
Culture is not merely a luxury reserved for established companies; it forms the bedrock of growth. Without a solid culture, businesses risk becoming fragile, as famously stated by Peter Drucker, “Culture eats strategy for breakfast.”
From day one, we integrated rituals into our organization, including weekly calls, clear feedback mechanisms, and well-defined values. These straightforward practices facilitated growth with alignment and clarity. As I emphasize in my course, Missão Empreender, culture is the framework that informs decisions when leadership is absent.
Moreover, culture doesn’t have to be complicated; it must be embodied. The way you lead, your consistency, and your decision-making processes shape the culture your team experiences.
Related: Perfection isn’t necessary to start. So, what’s holding you back?
Unicorns are rare, but sustainable businesses are built every day
The core issue isn’t that entrepreneurship is failing; rather, many are waiting for an elusive opportunity instead of focusing on creating viable solutions.
You don’t need to disrupt an industry to add value; consistent delivery, solving genuine problems, and cultivating trust are key. The most astute entrepreneurs I know aren’t chasing after unicorns; instead, they’re nurturing solid, reliable businesses.
The market doesn’t need more extravagant billion-dollar plans; what it truly requires are well-executed operations capable of generating around $100,000. As I state in O Empreendedor Smart, “Smart entrepreneurs focus on sustainable practices rather than blindly chasing growth.”
In a society increasingly fixated on unicorns, creating what genuinely works channels true innovation.
If you’re still hesitating to launch due to concerns that your idea isn’t grand enough, consider this: Would you prefer to chase something unrealistic or build something tangible? Start with what is effective. Start smart. Start today.
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