Become An E-entreprenur
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But are freelancers entrepreneurs? While the two terms are fairly ambiguous, they are distinct. By most definitions a freelancer is not an entrepreneur. How can you tell if the life of an entrepreneur is for you?
What is an “Entrepreneur?”
First and foremost, entrepreneurs value independence. They want to be their own bosses, set their own schedule, and run their own lives.
They enjoy being responsible for their own success and take pride in building something greater than themselves. They must also be able to handle risk. If the thought of not getting paid on a regular basis, failing to sell your product, or simply falling flat on your face frightens you to paralysis, you may have difficulty dealing with the up-and-down nature of entrepreneurship. Due to the higher levels of risk, long-lasting entrepreneurs are also frugal. Despite popular culture telling us that entrepreneurs are popping champagne and cruising on expensive yachts, most business owners are savers, not spenders.
This was highlighted by the research of Dr. Thomas Stanley and published in The Millionaire Next Door , which found that most millionaires in this country are owners of small businesses not lawyers, doctors, or bankers and they are habitual savers. The book may need updating, but it shows the ever-important need for frugal living as an entrepreneur.
So, what can you do to become an entrepreneur? What are the steps to becoming an entrepreneur?
Because of the many types of entrepreneurs, there are many different paths you can take. But there are some similar steps all of them should take. In general, these are the steps you will take to become an entrepreneur:. Find Your Industry or Niche Step 2: Research Your Market Step 3: Educate Yourself Step 4: Build Your Business Slowly. The most obvious first step it to find your specific niche. More often than not, your niche will be something you have worked in for years. If you have been a carpenter for a local construction company, home remodeling and restoration may be your area.
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If you have worked at a restaurant for many years, you probably have a good understanding of how to run a food service business. Your current experience is a great place to starting looking for your niche. It will also help if you love your niche. To have years of success, you have to love what you do. You should also research the available market, analyzing the area for demand and need. Maybe, you want to open a fine Italian dining restaurant in your hometown.
Are the other restaurants succeeding? Is there another fine dining in your area? Can the local customers afford to eat at a high-end restaurant, or would they prefer a more-moderate place to eat? Do they even like Italian food? Finding the answers to these questions, and more, will be essential to your long-term success. There is a common myth in popular culture that successful, self-made entrepreneurs never graduate from college.
There are three types of educations that you should consider when looking at a life as an entrepreneur.
How to Become an Entrepreneur
The first type of education to consider is something directly related to your field. If you are looking opening an auto shop, you will obviously need some education and certifications related to car repair. If you are thinking about being a self-employed electrician, you will need the latest education and training with wiring and circuitry. If you want to run a restaurant, training in food service will be useful.
Compare Online Entrepreneurship Degrees. Shorter courses in entrepreneurship can be completed quickly and are also useful for jump starting a new venture successfully. Every entrepreneur, from owners of roadside cafes to global startups, needs to be versed in management, finances, taxes, and other business-related topics. An entrepreneurship education could mean an actual entrepreneurship degree or a more general business education that will prepare you to meet the day-to-day challenges of an entrepreneur career.
Many aspiring entrepreneurs think that fast, rapid growth is the sign of a successful business. However, most businesses are built slowly, over years and even decades. Whenever possible, entrepreneurs will build slowly, starting with the very first sale and crawling forward. Building slowly allows you to learn and make adjustments before plunging headfirst into the business. In many cases, entrepreneurs will keep their day jobs while building the business in their spare time.
There is difficulty in predicting earnings for entrepreneurs. Their fights are not meaningless brawls. Do you think that entrepreneurship is for everyone? As entrepreneurs, which personal traits and habits do we need to change to reach our goals, and experience fulfillment along the way?
Steven, Your article is a great fast read for those who follow the Entrepeneurial life of many others through your interpretation of how you evolved and grew yourself in real life scenarios shows a passionate way to reach out to readers where each struggle can be reflected and overcome if you work with meaning and dedication. Your sub-links provide a great side research for diving into those particular subjects. Just as not everyone is an extrovert — as society has been gradually informed over the years — entrepreneurship is not for everyone also.
There are behaviours to be learned, skills to acquire, habits to form with true effort, if one is not already naturally doing them. I am on a road of entrepreneurship myself. And its been quite a ride. I am lucky to have mentors close at hand for questions or challenges I may face.
And yet, some challenges are for me to solve alone, as I continue to do so through consistent experimentation and above all, patience. Along the way, I have also discovered that my core passion lies in intrapreneurship the initiative to change a business from within. This is an area I delve into a bit yet as my commitment requires me to expand entrepreneurial skills, then here I am reading your article. Thank you for your perspective and thoughtful look-aheads. This is an interesting yet fruitful journey, indeed! Great article and great advice.
3 Reasons Not to Become an Entrepreneur, and How to Do it Anyway
I do, however, feel that the stress and fear that occur from failure is part of what defines and shapes the personality of an entrepreneur. I would imagine that the fact that many entrepreneurs have failed a few times before reaching their bigger goals has something to do with their success and determination. There is a feeling that can only be experienced through the drive to be something greater, build something better, push the limits of your peers and see the results in real time — both up and down.
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1. You Value Comfort Over Performance
After logging in you can close it and return to this page. Skip to primary navigation Skip to content Search Blog. Yes, I too, am guilty of hyping the entrepreneurial life. For example, this is a shot from my Instagram feed , posted a few weeks ago: But you know what? Before I begin, a caveat. By no means is this an attempt to discourage you from becoming an entrepreneur. Entrepreneurship is, in many ways, a battle.
You Value Comfort Over Performance There are two types of people in the work arena—those who derive satisfaction from the byproducts of success, and those who get satisfaction from the actual process of moving the needle. Fortunately, switching between these mindsets is a skill that can be cultivated. My key suggestion would be to seek out these people and add them to your roster of teachers. Need to talk to someone who has already mastered how to become a successful entrepreneur?
Source To become an entrepreneur and grow a successful business, you must hold a concrete, meaningful, and empirically centered vision in your mind at all times. I still remember the first big entrepreneurial goal that I created and achieved. You need to find your own, overarching vision that will keep you hungry and focused. Many would-be entrepreneurs fall into the trap of creating vague and fluffy targets, such as: For example, where to work today?
How to Become an Entrepreneur: Steps, Tips & Best Degrees
If you were to stay at home, how much more closer to your larger goal would you be? Thing is, stress can be significantly reduced or eliminated altogether. Being stuck in a dark alley with shady guys and your back against the wall? Source You must fully intend for the risk you take on to provide a return in the form of growth, money, exposure, or something else you deem valuable.
Should you go ahead with this? It means different things to different people. You now have to defend your title. Session expired Please log in again. Send this to a friend Your email Recipient email Send Cancel.