Do you have the desire to be self-employed or share the need to own your own business?
Today I break down everything entrepreneurial spirits need to succeed, in four easy segments.
NETWORKING
This is the biggest and most important aspect of starting any business. In order to thrive and grow, you need backers. In order to get backers, you need to network. You need to be going to the bottomless pits of 4chan and reddit to explain why you're idea is better than anything else before you. You need to join a facebook group that is inline with what you're trying to accomplish. You need to call up friends you haven't heard from in a while that you know would have your back if you needed it. Family is the biggest benefactor to startups. Never take them for granted. You need to be meeting people in voice chats, text chats, and in person, to spread the wealth of knowledge you have on your business model and what makes it so special.FUNDING
Without capital it is very difficult to get any ideas off the ground. This segment goes hand in hand with the first point I made. In order to seek funding, you have to know some people and they have to deem you trustworthy. That kind of relationship doesn't just happen overnight. Therefore, family and friends are the best places to start. If you don't have family or friends go back to square one. Make family and friends. If that doesn't pan out, it's time to look at lending. Personally, I think this should be a last ditch effort. If all else fails, then it might be time to look at a small business loan or a business credit line. The thing is; if nobody is listening to what you have to say and are willing to back your venture, it might not be as good of an idea as you thought. Keep that last part in mind.RESEARCH
If you haven't already done this part, you're ten steps behind your competition. If you have already done your research and you aren't constantly refreshing your knowledge on that research or learning new things, you're also ten steps behind your competition. Research is the driving factor for any industry. Most businesses have a specific department named "research and development". Interesting how that works, right?!TIME/EFFORT
This last segment is probably just as equally as important as networking. You MUST be honest with yourself at this point. If you think that starting your own business will be fantastic because you're going to be your own boss, you're not entirely wrong. If that's the only thing you think will be involved in starting a business, you're incredibly wrong. The average full-time job requires you to work 40-50 hours a week. The average entrepreneur will work more than 70 hours a week in their first two years of business. Some never have a chance to work less. It all depends on your situation. The point I'm trying to make here is that this will require much more of your time than a full-time job. Dedication is a key word that many people use to describe an entrepreneur. I completely agree.
I'm not trying to draw anyone away from starting their own business. If you have a great idea and others agree that it's great, please do start your business. We need more businesses with great ideas flowing. The point I'm trying to drive home is that this lifestyle is not for everyone. It takes a special type of person to own a business. Are you an entrepreneur?
I'd love to get some feedback on this one. What do other entrepreneurs think are important factors in starting a business?
Cheers,
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