There is a bit of an entrepreneurial spirit in every one of us. At one point or another, we all use this spirit in life, be it at work, at home, in school or in a relationship. But have you ever wondered what it would take, to turn your entrepreneurial spirit into an active skill? In other words, have you ever wondered if you had what it takes to become an entrepreneur?
Before we go any further, let’s establish a few terms first, just to be sure we’re all on the same page here. So, Entrepreneurship is a process of designing and managing a new business. This business can be offering a product, a service or a process. Or maybe something else entirely. An entrepreneur is the person that runs this process. It is this person that recognises an opportunity, develops a business plan and takes advantage of said opportunity. This is the person with in-depth knowledge of the market and the economy, with a creative approach to solving problems and the right mindset to keep the people he is working with motivated. It’s a demanding, but often a very rewarding job.
Since you’re reading this article, I take it you have a desire to become an entrepreneur yourself? I take it you may also be wondering if you’re cut out for the task? To become an entrepreneur one must develop his or her entrepreneurial spirit into an entrepreneurial mindset. The mindset is about the way one thinks and approaches problems, presented to them. A correct mindset is key to successfully managing your own business, especially in today’s rapidly changing economic ecosystem. The truth is, many people just aren’t cut out to be entrepreneurs. It’s a blunt statement, agreed, but deep down you know it to be true. If you are to be a successful entrepreneur, you will first need to answer these two questions. “Can you do it?” and “Do you like the idea of creating and running your own business?”. If your answer was positive to both these questions, we are free to move on.
Now ask yourself another question. “What are my best traits that I could offer?”. Some people are good with numbers, some are very organised, again others are good at crafting while some excel in social skills. The real question here is, what values can you offer? For example, in network marketing, traits like charisma, barter and a sense for leadership produce fantastic value, both for the company you represent as well as for your customers and business associates. Take a moment and give it some thought. Analyze your personal attributes. Where do you see yourself? What do you see yourself doing? At this point it would also be a good idea to list out your strengths and weaknesses. It will make it easier for you to find your valuable traits. Remember, this is where honesty is key. There are no right or wrong answers, this is about you being honest with yourself. Taking a look at your personal or professional resume could be useful as well. More often than not, it’s our experiences that help shape our traits.
Once you established the kind of person you are, and know the kind of market you want to enter, it is highly recommended to draft out a team of people you will soon rely upon. Let’s face it, everyone has shortcomings and no one can do everything by themselves. And you don’t have to! Every successful entrepreneur has a close team of people he relies upon, whether they admit it or not. So, if your social skills are not exactly top-notch, you might want to associate with a ‘people person’ to communicate with your customers. Or hire a professional to take care of the highly technical parts of your business plan, if that’s not your cup of tea.
Next you will need to set a few goals your yourself and your business. Without a goal you might as well be doing business blindfolded, since without a clear objective, how can you ever reach one? A goal can be pretty much anything but it’s usually best if you stick to the ones that are realistic. If you won’t be able to achieve your goals, you probably won’t be happy building your business. Most goals people set are financial, since finances are number and numbers are easy to read or measure. Be specific when setting goals. You will need to see your achievement, once you complete it. For an example goal, you may state something like “I want to achieve 10,000 in profit by the end of this year.” or “I want to achieve 10,000 units in monthly sales by 2017.” Also note that you can set long-term and short-term goals. We just mentioned an example of a short-term goals, however a long-term goal can be way more ambitious and bigger, achieved over the course of a decade or even more.
So, with everything accounted for, you are ready to begin your entrepreneurial journey! Be aware that along the way you will be faced with challenges you’ll need to overcome and obstacles you will need to tackle. It won’t always be easy, but if you’re anything like me, it will always be fun. Remember that business is a game of both skill and knowledge. There is always something new to learn, always something new to master. As long as you keep learning and maintain a sharp set of skills, you will be at the top of your game. As stated in the introduction, entrepreneurship is not something everyone is cut out for, but if after reading this article you can see yourself doing it, go for it! Shape your process so it fits your wishes and do what you love to do. Learning by doing is the best way to go, so even if you’re not quite sure about how everything will fit in place yet, don’t worry, you’ll figure it out. Do it today, make it perfect tomorrow! And, good luck!
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