How To Become An Entrepreneur
You see the finished product. The fancy car, the big house, or some other outwardly symbol of success. But practicing how to become an entrepreneur is not for the timid. Nevertheless, anyone willing to take chances, to work hard, and to sacrifice, can be a boss.
Whether you want to earn big bucks or enjoy the freedom of unrestricted movement, getting there just takes discipline.
Do you have to be born with entrepreneurial spirit? Nope, and I have been self-employed since my 18th birthday. Anyone can do it.
1. No free weekends
Is giving up every weekend necessary to become a trailblazing boss? No, it is not. But, a successful owner’s workweek is long. So, can you get all your task completed in 40 hours? Most likely not.
Think about it, in the beginning you will have to wear multiple hats. Which is code for doing multiple jobs. For example, one week you may need to decide which business to start, how to get a loan, who will respond to unhappy customers, and so on.
You may not have many free moments during the weekend because business cards need designing, a marketing strategy will need to be created, and a customer acquisition plan requires implementation. All these task will fall squarely onto your shoulders.
In case you haven’t guessed it, I will not sugarcoat this article. Do I still stand by my earlier belief that anyone can become self-employed? Yes! But it demands an all-out grinding effort.
Your to-do list will never seem to end, the money will fly out the window, and your stress level will continue to travel North. But you can achieve it if you really want to.
2. No procrastination
Responsible CEOs get the brass ring. As I mentioned above, there will be so many things to do you cannot afford to delay. You will teach yourself how to prioritize. You will act on assignments immediately. Being the president takes a determined mindset.
But you will take breaks and recharge. You just won’t put off what needs to be completed like you did when you hustled for someone else. Funny thing about an employer payroll check deposited into your checking account regularly vs. not having one.
At your job you may be able to get away with delaying assignments. When you’re self-employed, this is not an option.
Ten years ago, I started a moving company. And one of the tasks I consistently put off was responding to customer reviews. I would eventually get around to them, but I would procrastinate for whatever reason. Guess what, we took a big hit because I didn’t jump right on them. Good review or bad, I should have not delayed.
3. Tap your creativity
Can you be resourceful when necessary? When you need to find a way, when there doesn’t seem to be one, can you? Will you see solutions (opportunities) when everyone else sees problems? And the ones that make it find a way around roadblocks.
Notice I specifically didn’t mention the smartest person in the room, although that definitely helps. If you don’t have the knowledge to achieve X, can you get the information and apply it?
4. How much cash have you got?
Founders must develop the ability to raise cash. Will you apply for a small business loan or use your own money? Are friends and family an option for funds or are you planning to max out your credit cards?
5. Are you patient or impatient?
If you need to see immediate results, this path will be tough. Growing your startup takes time. Developing a client base takes time. Finding the right mentor takes time. And becoming an accomplished CEO takes time.
Do you have the patience needed to grow your operation? To see it become profitability before throwing in the towel.
6. Work well with others?
What’s your management style like? Do you have a problem giving up control? Do you need to do everything yourself? Are you trusting?
These questions speak to how well you work with others. Collaborations will be necessary whether you’re a solopreneur, have just one employee, or an entire staff.
For example, if you launch a maid service who will manage the staff? You will. What type of manager are you? Not what type of person. I’m sure you’re the greatest. But what is your management style?
In conclusion, is finding success with your new day gig difficult? It will be one of the hardest goals you’ve ever tried to achieve. Is it worth it? I wouldn’t do anything else.