We are all ENTREPRENEURS.
But what does that really mean? The definition of an entrepreneur is "a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so".
I have met so many women (and men) in the past year who are constantly working on bettering themselves and always learning new things to take their business to the next level. It's a lot of work and if you have a steady 9-5, it may seem difficult to take on more.
So, how did the successful people we all follow on social media and real life take that jump and turned their passion into a business? What were some of the skills they needed to give them that jump start? What steps did they take?
I can tell you right now, entrepreneurship is not an easy road and it is not for the weak. There will be many ups and many more downs for you to endure. It takes a really strong individual to take on the challenges that comes with the entrepreneurship territory.
Here are a few notes for you to evaluate to see if entrepreneurship is for you:
1. Create a PLAN - So you think you have what it takes to go into business and be your own boss? But, have you looked at all avenues and created a plan of action? YOU NEED TO DO THIS FIRST. Ask yourself these questions:
- What types of services and products will I offer and what are my short term and long terms goals for success?
- Do you have enough money saved to keep you afloat for the first 3-6 months of taking your side hustle to your main hustle?
- Do you have a timeline of what you need to do to take your business live?
- Are you organized enough or have a system in place to sleep track of everything a business is made up of?
- Do you have the ability to schedule your own way to success?
Once you go through these questions, ensure that you have a solid plan of action ready to go. But know that this plan will be modified and changed as you change and get to know what your business needs and doesn't need to survive and for it to succeed.
“Ambition is the first step to success. The second step is action. ”
2. Be Fearless - Fear is a natural feeling to feel when making the transition to being an entrepreneur. Sometimes, we even fear success for the fact that being successful comes with challenges that we are not all prepared for. In order to be fearless, you must put strategic plans into place that have tangible outcomes. Plan several months in advance to help ensure a seamless transition. Sometimes the best way to deal with fear, especially in a business mindset, is to go through all the steps and possibilities of worse case scenario, and realizing that failing isn't so bad. How else are we to grow? Think about creating a work-life balance to embrace successes rather than to fear it.
“Make excuses or make moves.”
3. Always Be Open To Learn New Things - I can tell you right now, if you decide to follow your passion and become an entrepreneur in 2016, you need to go in with an open mind and not think that you know everything. Worse mistake you could ever possibly make! We are all students of life and in this case, students of business. Find what works for you and your business and always make room to learn new things that would be of benefit to your business. Never assume that there is nothing more for you to learn. Continue to take in free information as it becomes relevant to your scenario and keep in the loop about with new technology, etc.
“Invest in yourself; trust me you can afford it.”
4. Network - While still at your 9-5, emerge yourself in every opportunity which is involved with your new passion. Attend local meet-ups, conferences, seminars, workshops and reach out to people in various social networks and professional organizations. Put your name out there and brand yourself accordingly to get the general public and your community aware of what services or products you intend (or already are) selling. Start making a list of people you would be able to collaborate with on projects to grow your business. Once you have their trust and a ready to take your business full-time, you would have already done the background work on making the connection.
5. Don't Lose Your Focus - Know what your business is about and know what your goals are. Keep a direct focus in what you set out in your plan of action and work on it every day. Don't get side tracked and change your brand, image, goals, products and services. Stick to one main thing and work on that. Now this does not mean that you can't add or modify, just don't lose track of what your main product/service is.
“Focus on your goal. Don’t look in any direction but ahead.”
While some of these steps can assist you become a successful entrepreneur, it is important to remember that everyone’s path is different. Just because someone does x, y, and z, it doesn’t mean that x, y, and z will be a great fit for you. Find what works for you and build with that, never losing your focus on what you believe in.
With Love, Nikki