So You Want To Be An Entrepreneur
This article is written specifically for those people who have long had a dream of starting a business.
Those who dream of being an entrepreneur and controlling their own destiny, but are just waiting for the right time to get started.
One of the best things you can do as an entrepreneur, or wantrepreneur (someone wanting to start a business), is to hire an experienced business coach.
They will be able to help steer you away from the pitfalls that will slow your growth and can assist you in reaching your professional goals faster.
So, consider this article as a personal coaching session with me.
I’m going to tell you 10 things that no one tells you about being an entrepreneur, so you can build your success that much quicker!
Let’s get started shall we?
Number 1: You Have To Act Now
The time is definitely right to build your dream business and start creating your own personal economic boom.
Here’s a tip: No matter what you may be pursuing in your life, if you wait for it to get easier, you are going to wait forever.
If you wait for it to get easier, you are never going to accomplish your goals.
If you wait for it to get easier, time will pass you by, and years from now you’ll probably be in exactly the spot you are in now.
So stop waiting for it to get easier! It’s not going to.
Just get started and enjoy the inevitable twists and turns in the road!
Number 2: You Have To Get Comfortable Taking Risks
And that is because wealth rewards risk.
Generally speaking, in life and business, the greater the risk, the greater the potential reward.
I firmly believe that.
So when entrepreneurs want to play it safe, and not risk being bold or investing in their future business, they also cannot expect to have the same size reward as someone who is willing to risk more.
When it comes to finances, I had to get comfortable with my relationship with money, and more specifically, with debt.
Instead of being so emotional about money, I began to see it as merely a tool.
I even switched up my language – and instead of calling it credit card debt (which I always believed to be wrong), it became my line of credit!
You’d be amazed at how a simple reframing of something can make a big difference.
Anything worthwhile likely involves risk. Playing it ‘safe’ may be the safe thing to do, but successful entrepreneurs are risk takers.
You have to take the shot.
Number 3: You Have To Decide To Be An Entrepreneur
There is a difference between a small business owner and an entrepreneur.
Small business owners usually think about growing their businesses by simply selling more of whatever they sell.
The flip side of this thinking is what I like to describe as an agile, fast-moving entrepreneur.
Instead of being single-minded and desiring to sell as much of their core product or service as they can, entrepreneurs are focused on wealth creation><Format: Italics>.
In other words, they are open to and desire multiple streams of revenue.
They are also open to exploring new ideas and services to offer current clients or new clients.
Instead of singularly focusing on driving more sales, they’re looking for ways to create wealth.
This is a decision you have to make for yourself if you really want to create your Dream Business and live the lifestyle that you want.
Number 4: You Can’t Do It All Yourself
The strategy that I learned many years ago that has really helped me move my business forward is to delegate and let go.
Trust me, it was not, and is not, as easy as it sounds. I still struggle with it!
As entrepreneurs, we tend to think that no one can do the job as well or as quickly as we can. We get stuck in this mind-set that we have to do it all.
I’m guilty of that myself, and it was not easy for me to let go.
Chances are high that you will build your business from the ground up, but if you really want to make it grow, you will have to let go!
Get experts to help you with the administrative tasks and the areas of your business that would take a huge investment of your time to learn.
If you’re not a Web programmer, for example, why would you try to handle your business’s site?
Experts will get the job done faster and will probably deliver a more professional end result than you can.
Instead, focus your time on high-revenue generating tasks.
If you think you save money by doing it all yourself and refusing to hire experts or assistants, you’re wrong.
You will pay with your time, and that’s far more valuable than an assistant’s invoice.
Number 5: You’ve Got To Get Up Early
Maybe you get up at 7:00 or sometimes for an event you get up at 6:00 in the morning.
Let me tell you, that’s not early.
The successful folks and C-level executives typically get up at 5:00, 4:30, or even 4:00.
For me, I’m usually working by 5:00, especially when I’m in massive action mode, like writing my books and articles, launching a new webinar series, or planning my next Dream Business Academy.
Getting up early is a way to get things done. Full stop.
Number 6: It’s Not About Your Idea
Being a successful entrepreneur is not about having a huge idea; it’s about filling a need, solving a problem, and providing value.
Your enterprise can certainly grow into something huge, but you don’t need a killer idea to start.
The secret to a successful business (it’s almost embarrassingly simple): Provide outstanding value combined with world-class service, and you’ll have higher profits and more customers for life!
So, take your idea, add a healthy dose of urgency, sprinkle in some massive action, and then top off with some intense focus!
Number 7: You Have To Know Your Audience
Knowing exactly who your target audience is, and knowing your market, are more important than the product you sell or the service you offer.
Please re-read that sentence: Knowing exactly who your target audience is, and knowing your market, are more important than the product you sell or the service you offer.
Don’t skip over this aspect of building your business plan.
You want to know specifically, with intense hyper-clarity, who your perfect target customer is.
You should know how old they are, their gender, their occupation, and the type of neighbourhood they live in.
If you don’t know this information, you will never reach them with any type of marketing you do.
Number 8: No Matter How Great It Is, Your Product Won’t Sell Itself
Even after establishing that there is a need, nothing gets sold until the people with the need become aware of your solution.
Translation: Aggressive targeted marketing.
Remember the reality of sales: If you haven’t done enough to build your customer’s trust in your product or service, your customers or prospects will probably sit on the fence and not buy from you.
Do a better job of building trust and you’ll close more sales!
Here’s a tip: One of the best ways to build the know, like and trust factor is to use video in your marketing efforts.
This gives you a chance to introduce yourself and start building your relationships with a personal touch.
Number 9: You Have To Suck It Up, Even If You Are Right
I’m going to let you in on a secret to success for growing your business and boosting your profitability.
When it comes to the majority of customer service situations, it’s not about being right. It’s about creating raving fans of your business.
Raving fans stay longer, spend more, and refer more new customers to your business.
I believe you won’t create raving fans if you insist on being right, even when you know your customer is dead wrong!
If you choose to be right, I can almost guarantee that your bank deposit is going to be smaller.
Consider the bigger picture, and suck it up!
Number 10: You Have To Get Your Mind Right To Be Successful
To create a successful and profitable business, certain skill sets are needed, but a proper mindset is essential.
Your skill, talent, and work ethic will only take you so far.
There are plenty of failed entrepreneurs who had those three components but failed in the mindset department.
Understand your mindset as a combination of the thoughts, beliefs, and attitudes that you hold about your life, your business, and how much success you can create.
It is essential that you don’t get stuck in any of the many negative mindset traps that are out there.
To help you avoid them, check out this latest article 5 Mindset Traps That Are Slowing Your Growth.
There you have it! 10 things no one tells you about being an entrepreneur
Well, I guess we can’t say no one any longer.
Remember: Great ideas are fun, but it’s the relentless effort of action and implementation that gets you to the finish line.
And, to finish strong you have to first get started!
So, get moving today to create the future you want; nobody else is going to do it for you!
To your success!