Any entrepreneur knows that it is a unique career choice. If you want to be an entrepreneur you probably realize you are not like most people. In fact many of your friends and family probably think you are a bit odd. This is especially true if you have a stable, well paid job. Go easy on them, they are just worried about you!
Be prepared to fail
As an entrepreneur you accept failures as part of the journey. You know that you need to work hard and be prepared to change tack. Plus you need discipline and perseverance in abundance. In fact there is a saying in business that you should fail fast but fail forward.
You need to focus on your goals in order to achieve success, but there will be challenges and setbacks along the way. Accept that nothing is certain and be prepared to adjust as necessary. You need to adapt to survive in business. Fail forward means you learn from your mistakes and it takes you towards success.
Most successful entrepreneurs are risk takers. Obviously you want to take calculated risks but if you are totally risk averse then entrepreneurship may not be for you.
Starting a business as an entrepreneur comes with risks and you must manage your money well. Staying on top of your expenses is vital so that you can fund growth in your business. This can put you under pressure if you are not used to managing a budget. Making a budget is important in all aspects of life,
You need to anticipate changes in the business environment and be able to react to the situation. Nothing stays the same and you will no doubt need to make changes over time. The question is how well will you cope with these changes.
If you want to be an entrepreneur then you probably know what type of business you want to start. Some businesses have a clear set of characteristics that are needed while others may offer more scope for you to stamp your personality on.
Take the quiz to get a report on your business idea
Many successful entrepreneurs do not actually end up in the business venture they first start up. Once you start a business you will learn valuable skills that can be transferred to many different business models. You may find that circumstances take you in a different direction to what you had planned.
If you move to a different business model you will have valuable experience and skills that will transfer to a different environment. It may be advisable to pick a business name that is not too prescriptive if you want to keep your options open.
You want to be an entrepreneur not a Jack of all trades
There is a tendency for many business people to want to do everything in their business. You may want to wear all the hats. This may be necessary if you are on a tiny budget but is something you should move away from as soon as possible.
Be honest about your skills and don’t be afraid to delegate or outsource some jobs. It is a bad idea to concentrate on your weaknesses and spend hours trying to do things that you are not suited to. Far better to improve the things you are already good at to grow your business fast.
Concentrate on your customer
If you want to be an entrepreneur that lasts and thrives you must remember that you are in business to serve a customer. You have to make sure you don’t get too entrenched in the mindset of what you want. Instead you need to be focused on what your customers wants and needs are.
This can be a challenge for a new entrepreneur. You may be tempted to try to educate your audience to your way of thinking but that is not where the easy money lies. Sell them what they want but if possible also give them what you know they need. This will bring you happy customers and repeat business.
You have to keep in mind that a business does not grow overnight and you may need to invest many hours and dedication to make it a success. Keep focused on the end goal as that will motivate you to keep going. Celebrate every small success you have along the way as that will also act as motivation.
You want to be an entrepreneur but don’t give up the day job
Obviously you want your business to make money. If possible you want to start your new business alongside your main source of income. This is usually possible with online jobs where you intend to make money from home.
If you can run your entrepreneurial setup without giving up your day job, then it removes a lot of financial worry. Think of it as a way to make a side income to begin with. This also gives you the ability to outsource some tasks to others as you will have more money to play with.
So if you want to be an entrepreneur then realize it is often not easy, but it is worthwhile. You need to invest time and money to succeed, but you will gain so much. As an entrepreneur you have more flexibility as to when and where you work. You will have freedom and a great sense of achievement when you have a successful way to make money.