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Monday, May 22, 2017

 

Be An Entrepreneur

Be an entrepreneur, work for yourself, and be successful!


 
An entrepreneur is a person who owns and runs his/her own business. Being an entrepreneur offers several advantages and disadvantages over working on a regular job.

Here are a few of the advantages of being an entrepreneur:

  • An entrepreneur is his/her own boss. You "take orders" only from yourself.
     
  • An entrepreneur gets to keep and enjoy all profits generated from the business.
     
  • As an entrepreneur, you get to do what you like to do. You don't have to go through the hassle of getting up early every day to go to a job that you hate.
     
  • Owning your own business offers the opportunity to make a lot more money than working for someone else.
On the flipside, being an entrepreneur also has a few disadvantages:
  • An entrepreneur is his/her own boss. If things don't go so well, there is no boss to blame.
     
  • An entrepreneur assumes a large amount of financial and legal risk. Starting a business requires a large investment of money and time. If the business fails, the entrepreneur has lost a lot of both.
     
  • Most entrepreneurs discover that they end up working a lot more hours each week than they would if they worked for someone else.
Most successful entrepreneurs share a few common traits:
  • They have a burning desire to quit the 9-5 world and strike out on their own.
     
  • They are risk takers by nature. The prospect of being either wildly successful or a failure has a certain appeal to them.
     
  • They want to get out from under a boss and have control over their own careers and futures.
     
  • They know what they want and they're eager to do what is required to get it.
Here are a few tips for becoming a successful entrepreneur:
  • Choose a business that you enjoy. You don't want to get stuck doing something that you hate for the next 10-40 years!
     
  • Study your chosen business model and make sure you clearly understand exactly what will be required to succeed at it. Do this before you start your new business!
     
  • Make sure you have enough money available to "hit the ground running" with your new business (or that you'll be able to borrow it). Most new businesses fail within the first two years, and the #1 reason why is insufficient operating capital.
     
  • If there is an aspect of your business that you have trouble with, hire someone that is good at it to help you. For example, you may not be very skilled at bookkeeping or marketing. These skills can easily be "hired".
     
  • Delegate tedious, time-consuming tasks to subordinates. As an entrepreneur, you simply won't have time to do everything yourself.
Being an entrepreneur certainly isn't for everyone, but it could be for you! Only you can make that determination.

Carefully consider the advantages, disadvantages, and any requirements of your chosen field before making a decision to become an entrepreneur. And be honest with yourself. You, your family, and your family's future deserve it!
 

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