What Every Professional Turned Entrepreneur Should Know
Some will believe after reading a few books and how-to articles, that they are qualified to give advice on running a business. Others dream of having their own schedule and being their own boss. They see themselves slumming it for a bit and then eventually hitting it big. Both types are what I call wantrepreneurs — posers who crave the entrepreneur title and lifestyle without setting foot into the realm of entrepreneurship.
The reality is not everyone can be an entrepreneur or establish a business from the ground up. Before you make the plunge to become an entrepreneur, here are a few things you’ve got to get straight:
Willpower is the real money maker
You’re the heart that pumps blood into your business. Having true passion in your venture is the only way for the business to thrive in the long run. Family and friends are great supporters but understand the energy must still come from within your bones. However, it is important to ask your family and significant other their opinions before going all in as it affects their lives greatly.
You gotta hustle
If you’re not a salesperson or marketer, you better get on that ASAP, or find someone with those necessary skills. It is pointless operating a business if you’re not making a dollar. That’s called a non-profit.
You have to be resourceful
Don’t think you need a huge budget to be known in your market. Simply understand what is necessary for your business to get a jumpstart, separating what is a want and necessity. Free marketing venues exist that will help you get the first couple of customers.
The hours are painfully long
Does working 69+ hours in a week doing random tasks sound hectic? Well, that’s exactly what it takes. Even if you love the new business, which you should, you will get burned out at some point– whether it is 6 months, 4 months, or 2 days from now. Strategize an operational flow for the business to continue while you take a day, or two to recharge.
Most people don’t have what it takes
Lastly, take a serious self-assessment to see if you have the juice and the skillsets to see your business grow past its infancy into a teen. If you find your passion and people want to purchase it, don’t quit until you have reached your goal.