Getting Ready to be an Entrepreneur, Start Your Own Business

Find out when and how to make a leap,

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How deeply you embrace an entrepreneurial mindset,

And whenever You're better suited to be a solopreneur or a company founder.

Some People worry about whether they have what it takes to be an entrepreneur,

If this is you, Stop Worrying,

We firmly believe anyone with the desire and initiative can go into business for themselves, And since you picked up this magazine, it's likely you have both

The Entrepreneurial Personality

Every year, hundreds of thousands of people start their own businesses, But while most succeed( yes, that's the truth!), Many fail. Why?

One of the common causes of startup failure is lack of preparation.

People come to the entrepreneurial path from different directions, Some start fresh out of college or after a stint at home raising their kids, or simply because the idea of retiring is abhorrent to them,

Most though, come to entrepreneurship straight out of the workforce, And many of them dabble in their would-be business before they take the plunge completely, testing ideas on the side while maintaining a day job.

Quitting a full-time job to start a business isn't a decision to be taken lightly. You should be sure the time is right get started, First you need to ask yourself some question:

Do you have enough money?

If you have a family, Are they ready for this?

Is there a need for a product or service like yours?

Many successful entrepreneurs say a sense of urgency that made starting their business not just a desire but a necessity was their driving force. One entrepreneur's advice: "You'll know the time is right when you can honestly say, I'll put my house, jewelry, and other personal collateral on the line to attain the startup money I need for the long-term rewards I deserve,' "We 're not recommending you put up your home (though more than few entrepreneurs started that way)

But that willingness to risk everything likely means you're ready to start now.

While many people think one single incident - such as getting fired or being passed over for a promotion- is the impetus for becoming your own boss, most experts agree it's usually a series of desires and frustrations that lead to entrepreneurship.

A fundamental desire to control their own destinies ranks very high on most entrepreneurs' lists of reasons for starting their businesses. This need is so strong that entrepreneurs will risk family, future, and careers to be their own boss. Some people aren't able to feel truly fulfilled working for someone else;

They simply cannot be happy following someone else's plan or taking orders from a boss, They're often convinced they have an idea that would revolutionize their little corner or it- and working within a corporate structure is shifting that potential.

But opportunity comes in other guises, too, It might be when potential customers start calling you because they've been told you're the go-to person for what they need, or perhaps a business in your area is struggling and you know you can make it work, Or maybe you feel as if you're underemployed (working below your potential salary or skill level) or not putting your skills and talents to their best use. Perhaps there's a need for the product or service you want to

"You'll know the time is right when you can honestly say, I'll put my house, jewelry, and other personal collateral on the line to attain the startup money I need for the long-term rewards I deserve.,"

REALITY CHECK

Once you've made the decision to break away, there are several things you should do before taking the next step.

• Conducting thorough market research is a must.
• Make sure you have enough cash-not only for the business but also to sustain your life - and discuss the decision with your family, Remember, the rewards of small business owners are not instantaneous. You must be determined, patient, persistent, and willing to make sacrifices to ensure those rewards come eventually.

Successful entrepreneurs share common personality traits, the most important of which is confidence. They possess confidence not only in themselves but also in their ability to sell their ideas.

You'll need to prepare for the responsibilities that come with business ownership, when things go wrong, the buck stops with you. you won't have the luxury of going home at 5 o'clock while the boss stays all night to fix a chaotic situation, Someone whose only desire is to get rich quick probably won't last long owning a business.

One of the best ways to determine if now is the best time for you to start a business is to meet with other entrepreneurs and see what they do and how they do it.

• Looking at their lives and talking about entrepreneurship can help you figure out if you're ready for similar challenges.
• Often when you talk to someone who's done it, They'll tell you all the negative things about owning a business,
• like the time they had to work 24-hour day or when the power went out right as they were trying to meet a huge deadline, But those are the things you need to hear about before you get started, In addition to meeting with successful entrepreneurs, you might want to talk to few who weren't so successful, find out what went wrong with their ventures so you can avoid those problems.
• Through surveys and research, we know that successful entrepreneurs share some common personality traits, the most important of which is confidence. They possess confidence not only in themselves but also in their ability to sell their ideas, set up a business, and trust their intuition along the way, The business world is fiercely competitive, and it's the entrepreneurs with confidence who survive.

Your strengths and Weakness

It's rare that one person possesses all the qualities needed to be successful in business, Everyone has strong suits and weak points, What's important is to understand your strengths and weakness, To do this, you need to evaluate the major achievements in your personal and professional life and the skills you used to accomplish them. The following steps can help:

• Create a personal resume.
• Compose a resume that lists your professional and personal experiences as well as your expertise, For each job, describe the duties you were responsible for and the degree of your success
• Include professional skills, educational background, hobbies, and accomplishments that required expertise or special knowledge, be honest with your answers- You're only doing this for yourself. when complete
• This resume will give a better idea of what kind of business that best suits your interests and experiences

Analyze your personal attributes, Are you friendly and self-motivated?

Are you a hard worker?

Do you have common sense?

Are you well organized?

Evaluating your personal attributes reveals your likes and dislikes as well as strengths and weakness if you don't feel comfortable around other people, then a business that requires a lot of customer interactions might not be right for you.

If you may want to hire a "people person to " handle customer service Analyze your professional attributes, SMall-business owners wear many different hats, but that doesn't mean you have to be a jack-of-all-trades.

Just be aware of the areas where you are competent and where you need help, such as sales, marketing, advertising, and administration, Next to each function, record your competency level- excellent, good, fair, or poor,

IS everyone IN?

Warning - If you have a family, make sure they, understand the emotional and financial sacrifices business success requires When your family doesn't support your business if they're always saying, "Can't you leave that alone and come to dinner?" - It's going to be tough to make your business work. if your family isn't ready for you to become an entrepreneur, this maybe not the right time.

SHOULD YOU GO SOLO?

What is Solopreneur?

Solopreneur is a powerful and growing force in today's career landscape, A solopreneur is a business owner who works and runs their business alone, A solopreneur is also the proverbial chief cook and bottle washer, who started the business, owns the business, runs the business, and is responsible for the business's failure or success, The benefits of solopreneurship are better experienced than reported, That said, if you're curious about the lives of these disentangled, high risk, high-reward captains of their own fate and are considering taking the same plunge, here's what you can expect.

You can be a workaholic if you want to

Workaholic gets a bad rap for all the wrong reasons, If working relentlessly is your thing, then you get to fo it, no holds barred, No boss to please, No employees to harass, Just you doing what you love, burnout or not.

You get to keep what you make

yes, you have to pay taxes, Quite a bit, actually, On the other hand, your business profits are yours alone, You can choose to incorporate as an LLC or S-crop, but either way, the money your business makes is the money that you make, Invest wisely.

You get to hire creatively

Solopreneurs have help, They hire, They manage, they even get to boss people around, sort of. The process, however, is different, Instead of employing a CFO, a solopreneur might engage the service of an adviser or work with a contractor.

You discover the power of automation and outsourcing

The solopreneur must automate processes and outsource tasks, In the absence of employees to do his or her bidding, A successful solopreneur learns to create streamlined systems that accomplish crucial business tasks.

You live to work

Solopreneurs don't have to go it alone, They just as easily shutter their shops and start preparing the town with their resumes, they can go right back to the corporate grind, But why do that? Work in an adventure- A passionate engagement in the excitement of life, that's worth living for!

You can turn on a dime

Startups love to pivot. pivots are a survival tactic, Solopreneurs pivot, too, and they can do so without any accountability to shareholders, board members, employees, investors, or even a pet cat. They can pivot like nobody's business.

You can choose everything about your business

It takes a lot of decision-making to run the business. From the carpet's hue to the company's slogan, you decide everything, If you're a sucker for control, You've chosen the right line of work.

 You can create your own schedule

A 9 to 5 , a 5 to 9 to 9, You are the one in charge, Deciding how, when, where, how long to work is completely up to you, Most solopreneurs, though don't choose to binge-watch Netflix, sleep in, or hang out poolside, And "Creating your own schedule" is just another way to describe the inflexibility and demands of working all the time.

You are responsible for your own success.

You have to take big risks if you want big rewards. Solopreneur internalize this truth, Rather than leave their success to the whimsy of an employer, they choose to take their success firmly in hand.

You develop your own vision.

Whose vision do you want to follow? Your own or your employer's? A solopreneur makes this decision with fierce independence and experience true fulfillment as a result.

You embody your brand.

Personal branding is the practice of creating your public identity, Since a solopreneur is a business, he or she will find it more important than ever to achieve personal branding.

Your experience adventure every day.

An adventure is defined as "an unusual and exciting, typically hazardous, experience or activity." That basically sums up solopreneurship, Job security? Not a chance, Steady paycheck? Nope, Benefits? You're kidding, You live a life of adrenaline-pumping adventure, and you wouldn't have it any other way.

Fair and Poor response doesn't mean you aren't up for entrepreneurship- it just means you'll need to gain expertise or find someone to help you in these areas

Planning for a Startup connect to our ecosystem, If you have any story share with us, we will share to the world

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