How do I learn what it's like to be an entrepreneur?
I have had an idea that I would like to turn into a business. I have a lot to learn since I have never started a business before. I first want to make sure entrepreneurship is the right path for me. What are some ways to find out what it is really like being an entrepreneur and if it fits my skills and personality?
The best way to learn anything is to do it. However, with the stakes being so high, it might be good for you to work as a network marketer or commission only sales professional first to experience what it's really like without the stakes being too high.
There's so many books and resources online; have you done any research on your own? Did you ever have a lemonade stand or sell girl scout cookies? Typical business start-ups with a new product will require a good sales person. Is that you?
A good start for anyone wanting to start their own business, is to start with why (great book). Why do you to start your own business?
Next; determine 3 things:
1. What are you passionate about?
2. What are you good at?
3. What do you get paid for, have you gotten paid for?
Once you have your "Why", you odds of success will be greater if your business is in the middle of where 1, 2, & 3 intersects.
Hope this gets you started!
1. Network and find someone that has started a business in the past 5 years that lives near you. Go have coffee with them and ask them to share what they wish they had known when they were starting out.
2. See if any of the local universities have entrepreneur groups that you could attend a meeting or a session.
Wow, so many amazing answers. What a great group of people. One of the things I like best about the entrepreneur community is how helpful people are. Thank you!
Hi Sara, I saw several answers which are all right from everyone's own perspective.
I'm not an expert, but I do have some un-official degrees attained at Life's University of Adversity.
-PHD: Persistence, Humility, Determination
-MBA: Mastery, Boldness, Ambition
-MSC: Motivation, Simplicity, Commitment
-BSC: Bravery, Sincerity, Courage
Add: Passion, Perspiration, Honesty, Faith, Integrity, Grit & Guts.
You have to take the first step on the stairs, there's no elevator.
All the best with your decision, hope I've been of help.
To know what it's like to be an entrepreneur, the answers are:
1. Experience it by become one - if you don't mind invest some money + opportunity cost of monthly salary
2. Listen to stories by joining entrepreneur networking ...hopefully you not confused by sales networking
3. Seek mentors - seek guidance and advises from seniors or expert entrepreneurs
4. Learn by studying ...MBA or entrepreneur course.
In the progress of learning ...study course to gain knowledge -> gain more knowledge from life examples -> Apply knowledge learnt by do it to experience it and seek mentoring to put you at correct path -> convert knowledge into wisdom when can appreciate entrepreneurship.
Find other entrepreneurs who you admire and aspire to be like, and ask them. It's been my experience that the good ones are more than happy to share their stories and their advice.
A friend of mine recently started a website where he does podcasts with fellow entrepreneurs. It's worth checking it out and getting some tips there. It's launchtogreatness.com. Again, this isn't my site, I get nothing from it ...it's just a great resource.
Well...you certainly have lots of input from many smart people! I don't think I can add anything to the mechanics or mindset of being an entrepreneur that has not already been stated. There are 1000's of books, articles (professional and academic), courses, seminars, mentoring groups, etc. that you can avail yourself of. But, as a longtime serial entrepreneur I can tell you that the "first time" is always the scariest and hardest to get started, and as was stated before, sometimes you just have to "do it". Even before you have all the answers. Here is my top 5 list of "things to do" for a new entrepreneur -
1. Talk to other entrepreneurs, formally or informally. Network, invite us to lunch or coffee (we are usually suckers for Starbucks) or just email or call. You will find that most of us love to tell you our war stories and there is usually a bit of wisdom that can be gleaned from each one. Trust me, we have the scars to prove it!
2. Read. But don't read everything. The concept of entrepreneurship, like the concept of management, has many adherents and thought-leaders, some good and some some not-so-much. You do not need a "how to" manual as much as you need a "why" manual. If you figure out the why, the how to will become apparent.
3. Define the job-to-be-done. Customers are defined by their need, their problem, their pain points or their job-to-be-done. How does your offering address this?
4. Find a customer. Just one...to start. To paraphrase Peter Drucker the goal of business is to find and keep a customer. Master that one concept and you will be successful. And, it is not as easy as it sounds. Finding a customer (and then many more customers) will require that your offering has a market. Your market will be defined by pain points, or job-to-be-done. Finding a customer or customers will tell you if your offering has perceived value in the marketplace...the only place it really matters.
5. Define your customer value proposition (CVP) or unique value proposition. What separates your solution from all the other solutions that are being offered? Two notes: there are ALWAYS other solutions including the status-quo (how is your customer solving this problem today?) And, if you don't see any other solutions, go back to point #3 above and reevaluate the job-to-be-done. There is a very good chance that if you are the only one who has a solution that there may not be a perceived need or problem to begin with. Do more research and proceed to step #4.
The list could go on and on. Maybe I will write a book! :)
Hope this helps. I would wish you good luck, but success in the marketplace takes more than luck, it takes hard work. So work hard. Work smart. And keep asking questions.
1) How to attract the customers for your desire proudcts.
2) Knowledge of your desire products.
3) Quality of your desire proudcts.
4) Knowledge of freight for our desire proudcts.
5) How to minimize your desire proudcts pricing.
To be an entrepreneur means knowing everything in that regard - So before starting any move you need to work for short period in any business , or hire anyone who can run the business & you can learn during that period How to run business . you need to check & find out different aspects , procedures , at any orginization to build up an idea of how to organize , with time you can you need to build up company chart ,different sections , how to work done through all departments , Its not difficult but you need to work hard .
Start a business!
Really. Pilot something meaningful to you. Go through the cycle of setting-up, starting-up, and running a solo ownership business just to get a feel for what it takes. Have fun with and make it a learning experience and hopefully a profitable one. If you keep it small scale and a learning experience then you can't fail. But if the business bombs, then you can afford to close it and start over with your next opportunity. Along the way, you'll discover lots about what it takes and more importantly about you.
I am an Entrepreneur, Venture Capitalist I do seminars in different states every month teaching people how to diversify their income in a vastly changing economy. If you are truly interested in gaining useful insight from an industry expert please feel free to E-mail me direct at people4profits at gmail.com
I will answer any questions you may have, and help you write out a list of goals to start you off.. My best advice for now is do not share your idea with anyone until you have it registered and you own all the patents, and copyrights on your idea.
Unfortunately people steal good ideas from great people every day.
I have Mentored hundreds of people personally and I am a life coach to thousands. I always say if you have an idea that you think is marketable then bring it to the market. I look forward to talking to you soon bye for now J Bailinisi.
P.S. please type ( Entrepreneur ) in the subject line so I do not think your message is spam thank you..
It's full on, but so so worth it. This is a long story, but near the end I give my top three tips - which many of the previous comments have been saying! Get a coach, hang out with people doing the same as you, and know there will be days where you wonder why you started - and that too will pass! http://mariadoyle.com/why-having-multiple-organ-failure-was-the-best-business-move-ever/
The Best way out is to go through!!!
Entrepreneurship is all about Hard work, Smart work and Lot of work!!
You just need to enjoy everything, and learn from your mistakes.
Its better you work alone because then only you will have to Work hard,work smart and you have to work a lot!
Just go out there and conquer everything!! Believe in yourself and Plllllzzzzzz respect Time!!!
Suggest you make an appointment with a Score Counselor in your area and develop a business plan with their mentoring guidance...Also, think about your tolerance for risk and how much capital you are willing to put up to start the business...You will not get a bank loans without some "skin in the game" from you
I've heard entrepreneurship described as jumping off a cliff with the intent of building a plane on the way down.
That said, is there a way to practice by setting up your idea as s side-project and then shift resources as you're comfortable?
Remember, every business is unique so no one who's building a business has ever built *that* business before and ever expert was once a novice. They just didn't let that get in their way. Don't be put off because some make it look easy. It's not.
I believe you just instinctively know what to do and maybe this defines being an entrepreneur. You have a passion for what you do or what you have created; you learn quickly and get help by surrounding yourself with great people, then you lob in a mix of luck, judgement and good timing. Then one day you wake up and realize you have achieved something special. That's the moment someone says to you "How
can I become an entrepreneur like you?"
Who is fit to be an entrepreneur? My response: Who isn't? Here are the origins of a few of the successful small business clients I've worked with.
-- Husband and wife art majors, introverts, who did some handprinted cards for friends and ended up having a million dollar printing business.
-- Immigrant whose first job was busboy in restaurant. When it went bankrupt, he bought it for very little. Built it into one of the best known restaurants in the area, and earned a Michelin star.
-- IT professional who baked gluten-free stuff in her kitchen for her own gluten intolerance. Has built it into a bakery with a chain of retail stores.
-- A guy who hurt his back in the construction industry. While on disability waiting for job retraining, he started doing yard care for neighbors. Never got his retraining, but built up a gardening business with two crews
-- A nurse at a major hospital who got so fed up she went out and started her own company to provide in-home care for people discharged from the hospital. Now has 30 employees, mostly other nurses.
-- Young guy who took over when his dad was ready to retire and has built the business even larger.
-- Investment banker who took his golden parachute and opened a yoga studio.
-- A man trained as a lawyer, but became a TV personality. Then started a company that made cable TV programs. Had offices in four cities when he sold it and retired.
What do these people have in common? Their personalities and skills and backgrounds are all so different. Many were "accidental entrepreneurs." None had formal business training before they started out. None had venture capital backing--many started on a shoestring.
They had the guts to jump at opportunity. They stuck with it when times were tough. They watched their dollars very closely. They learned to manage as they went along.
They were smart enough not to be the "Lone Ranger" and try to go it alone. They got outside coaching and problem solving--in their cases, me.
In the words of Nike--Just do it!
That's a great question, Sara. If you are not sure if entrepreneurship is for you, then perhaps it might be a good idea to go and work for an entrepreneur in a similar business that you are thinking of starting.
For example, I have a client who wanted to open a paleo takeout restaurant, so she worked in her spare time at an existing paleo takeout in her area. After working there for a year, she decided she would like to own her own paleo takeout in her home town. Once she made the decision, I helped her with her business plan and once she got funding she was able to launch a very successful business and is now buying another related company.
I have just written a book for women who would like to become an entrepreneur. It answers all the questions you are asking. If you would like to get notified of the publication date (probably Nov. 2015, feel free to PM me. Good luck with your entrepreneurial adventure.
All great answers from the others.
I believe we all have what it takes to be entrepreneurs if you believe you can.
It can be a lonely, tough road at times but with hard work and patience, it pays off in spades in the long run.
Even if your business fails, you'll learn a lot along the way about yourself and new business skills and you will be a better person for it.