When I began my journey as an entrepreneur it wasn’t because I always knew that I wanted to be one. I didn’t start because I felt I felt I had been wronged by a Corporation. I wasn’t even looking for “freedom”. I was a single mom who wanted to spend time with my toddler and I didn’t have the money to pay for childcare. It really was just that simple.
I started so I could be a loving mom and spend as much time as I could with my child and have control of my time to do that. I had been a stay-at-home mom until my ex-husband walked out on us and then I had to figure some things out.
What is your reason why? Is it simple for you?
Did you know that in 2021 applications for new businesses rose 20%? That is a big jump from the previous years. There were a lot of reasons to start a small business in 2021. With the uncertainty of employees, many small businesses had to close their doors for good leaving people without a place to go back to and concerns of a virus and the mandated lockdowns. No wonder there was a big hike in new entrepreneurs. Are you one of the 20% of new businesses?
If so, I would like to first congratulate you and welcome you as an entrepreneur. Next, I would like to say, “I hope you are ready for the rollercoaster ride”! My hope is what I share next will help the ride be a little more comfortable for you during the journey.
Becoming an entrepreneur takes a lot of work and there will be ups and downs on your journey. It will be up to you to come up with a smart business plan. You will need to have a vision for your business and you will need to be able to articulate what you do in a way that your favorite kind client can find you.
What else will you need?
- To be self-motivated because you are now the boss and there will be no one to tell you what to do or when to do it. Which feels great in theory, but for some, it is a big change and can become overwhelming if you do not realize what is going on. You can hire a great consultant or coach who has actually been there and done that to help reduce overwhelm and mental chaos that comes in next.
- To have flexibility because you will try to do something that you think is a great idea and discover that it doesn’t always work out like that. You will come up with some great ideas and some will work out well and others will not. You will need that flexibility to make adjustments and keep going forward and not giving up. More ideas will come along for you to try out and some will work and some will not.
Sometimes you are going to ask yourself, “Am I an Entrepreneur” and you also get to be the person to answer that. Other than the IRS’s description of being an entrepreneur don’t ask anyone else if they think you are an entrepreneur. You are the one who decides if you are going to do what it takes to be an entrepreneur every year, quarter, month, week, and day. Will you do what it takes? Will you put your focus where it needs to be to be successful?
Maybe you have been an entrepreneur for a while but you haven’t gotten the results you thought you would. If you are committed, it’s not too late. Get out of the hobby business and fully embrace your role as the entrepreneur who has vision, asks for help, and turns ideas into cash.
So, are you wired to be an entrepreneur? They say the majority of entrepreneurs are left-brained, logical thinkers, and problem solvers who pay attention to details. What if you use your right brain more? What if you are the kind of person who regularly uses ‘both sides of your brain often? Are you really an entrepreneur then?
Well, I have worked with entrepreneurs who predominantly use their left brain, right brain, or a combination thereof. I feel it is more important to pay attention to what skills you have, what you need to learn, and the skills you acquire by getting help from others.
Here are a few things that are important that you can do no matter what side of the brain you are coming from.
Know your own personal skills and what skills you need to learn. Inventory the skills (both soft and hard skills) that you currently have and take notice of the skills you need to put into place.
Knowing your product or service is what people want to invest in. If people are not willing to budget for it then it will likely not last. What are you selling and is there a true market for it?
Get good at asking for the sale! If you won’t ask for the sale you will not last. It is an opportunity for them to make a choice. Don’t make the choice for them and decide they don’t want it or need it and never offer it. Maybe they say no, then you move to the next person. What if they said no but knew someone else could utilize your expertise and they give you an amazing referral. What if they said, “yes” and you were not expecting it? Give people a chance to answer your question.
Stay focused on what your vision and goals are. If you keep allowing yourself to get distracted by other things like training (always training – never selling), fitting time into work on your business (like a hobby), or caught up in doing what you were never meant to do (things that should be delegated) you will not be able to focus on the important keys to achieving your vision or reaching your goals.
Create a strategy for success that you can follow and commit to. What does that mean?
- Actually, create a vision for your business.
- Then break your vision down into goals that you can go after. There will be big goals and smaller goals. Some goals will not be able to be reached without accomplishing a pre-requisite goal. Then break your big goals into small chunks, then chunks, then bites, and small nibbles that you can start on now and accomplish quickly. Then keep moving up the goal chain towards the vision.
- Document the resources you have available to you right now. Whatever it will take to accomplish the goal or activity that you need to accomplish.
- How much money?
- What skills do you have?
- Who do you know that can truly help you?
- Get into ACTION! Go get started and stop waiting for the right time. The right time is now and you can do it.
So, are you wired to be an entrepreneur?
The answer is….
If you chose to be and are willing to do what it takes you can be a successful entrepreneur!