Entrepreneurship - What does it take? Part II
Hello everyone, here is the second and last post dedicated to everyone who wants to be an entrepreneur but does not know from where to start, and what it takes to get there.
Here are 5 important steps that will not let you fail in the transition from employee to entrepreneur:
1) Manage Your Fears
It’s natural to feel fear when you’re first entering entrepreneurship – or at least uncertainty. Have a strategy in place to handle your fear, starting with planning months in advance. For some people, considering every possible worst case scenario and coming up with more than one solution for each can be a great help. This can help you see that failure won’t break you. In some instances, people are even afraid of success. "More money, more problems" and all that. Setting priorities to avoid losing friends or avoid leaving your hobbies is a great way to bypass this.
2) Reconnect with your authentic self
If you've been working in corporate America for a while, you may have become disconnected from the activities that brought you joy and meaning. It's important to reconnect with your authentic self to discover your true purpose. The key is to find the intersection between what you enjoy and what you’re good at. This is the most critical phase in the journey from employee to entrepreneur because it serves as the foundation for the steps that follow. Asking yourself thought-provoking questions can help you to find clarity. Here are some examples:
What are my gifts? What are my values? What gets me excited? What does my ideal life look like?
3) Think about what others will pay for.
A viable business is the intersection between what you’d like to do and what others will pay for. Remember the "Jump to conclusions Mat" from the movie Office Space? Todd loved building it, but no one was going to buy it. It wasn’t a viable business opportunity.
4) Design your marketing and business plans.
Today’s marketing involves content creation, social media, email outreach and more. Make sure you know how you’ll approach each of these alternatives to introduce your idea to customers. At the same time, lay out a business plan that details how you intend your business to function. It doesn’t need to be super formal, but it does need to cover your operating structure, product, delivery systems and expansion plans.
5) Change your attitude, change your life.
Your attitude can make or break you. It can determine the trajectory of your entire life. Unfortunately, some people are simply hard wired with a negative attitude—or it was ingrained early on. If this sounds like you, it's time to consider a serious attitude overhaul. Be curious about what it takes to develop a winning attitude—because if and when you do choose to start that dream business, a positive attitude is the most important thing that will help you make it reality.
I hope these tips are helpful, but do not forget the most important one -- Do not let your fears hold you back from chasing your dreams!!