Like a Boss: How to Become an Entrepreneur

Have you ever wanted to fire your boss? Have you said to yourself that if you knew how to start the business of your dreams, you’d resign your current job today?

Is it possible these thoughts are universal and that the difference between those who take the leap and those who don’t could potentially be as drastic as a lifetime of working to build someone else’s dream versus a lifetime working to build your own?

With so much at stake, taking the leap can seem really daunting. After all, there is so much uncertainty and so much to know that you may well be unsure of where to begin.

What’s the first step you should take to become an entrepreneur, you ask? Read on to find out!

Let’s Debunk Three Common Misconceptions

Let’s start by looking at three common misconceptions:

1. You have to have an advanced degree in business to succeed as an entrepreneur.
2. Your first idea has to be a million-dollar one.
3. You have to be a salesperson to succeed as an entrepreneur.

Let’s take a look at those, one at a time:

The first misconception is easily debunked by successful entrepreneurs like Clint Stinchcomb, who, with a bachelor’s degree in history, is now the president and CEO of one of the world’s leading factual entertainment companies!  Yes, you read correctly: a bachelor’s degree in history.  Check out his story for some pretty exciting inspiration.

The second misconception might seem to be supported by the fact that less than 50% of startups make it to their 5th year. As you can read in the linked article, however, there are some definite things you can do to help ensure your new venture is not in that number. Knowledge is certainly the first and most important step in shoring up your new business.

Thirdly, while you do need people to purchase your product or service in order to succeed as an entrepreneur, you might be surprised at how to go about achieving that.  Adding value for your customers is one easy (and free) way that you can make your business’s product or service more desirable than your competition’s.

How to Become an Entrepreneur

So, now you’re nearly convinced you should give your idea a go but unsure where to start? Research is your greatest asset.

Research what type of business is right for you. What fits your personality, talents, and interests?

Research your business idea. Does it solve an unsolved problem or solve a problem in a new way?

Research your target audience.  What are their habits? Do they need your product or service? What will they pay for it?

Research anything you don’t already know.  What are the ins and outs of your product or service with which you are not yet familiar?

In a word: research.

You’ve heard it said that knowledge is power.  Let’s adopt that idea, with a slight modification: knowledge holds the potential for power.  It’s what you do with that potential that determines whether that power is released, for you.

Where to Go From Here

So, you’ve decided to become an entrepreneur.

You’ve read inspiring stories of others, like Clint Stinchcolmb, who have had successful careers as entrepreneurs.

You’ve done your research, chosen your business’s product or service, gotten to know your target audience, and filled in any gaps in your knowledge base.

What now?

Now, it’s time to act. Yes, it may seem daunting, but, as every successful entrepreneur will tell you, their journey began with taking the first step. For some great inspiration about thinking outside the box, read more of our blog posts today!