There are basically two types of people; those that want to be their own boss and those that don’t. For those that want to be their own boss, it can be a struggle initially. Most are not born knowing how to become an entrepreneur.
Many successful business owners got there by making a ton of mistakes and learning along the way. And while you will undoubtedly make mistakes and learn along the way, there are benefits to learning about becoming an entrepreneur before you dive in.
#1 Understand Your Motivation (and Your Strengths and Weaknesses)
Before you become an entrepreneur, it’s important to have good self-awareness. Know what you want to achieve with your business and why you want to be your own boss. There’s no right or wrong answer here. The key is to simply have a good understanding of your motivation. This will help you stay focused and true to your vision.
It’s also key to know your strengths and weaknesses. Successful entrepreneurs leverage their own strengths and the strengths of others. You can’t do everything, and you can’t be good at everything. Do what you’re good at and hire people to fill in your gaps.
#2 To Become an Entrepreneur You Must Choose a Business Model
This is How to Become an Entrepreneur 101. It’s imperative that you understand your business model and the pros and cons of it. For example, if you choose to sell a service then you’re trading dollars for time. Time is limited so you’ll have to factor this into your pricing as well as your own time management and life balance. Check out the St. Gallen Business Model Navigator which looks at 55 different business models.
#3 Dig Deep and KNOW Your Audience
This is where many new entrepreneurs struggle. They don’t do the target audience research and instead feel like they will figure out their audience as they go. You will learn more about your audience and make tweaks to your marketing. However, if you don’t go in with an identified target audience and you don’t know them well, then your marketing won’t speak to them and your conversions will suffer.
There may be a lot of complaining about Google these days but the fact is that it provides us with a lot of great information about people who are looking for our help. Below is a video I created which shows you how to use Google Keyword Planner to know more about your audience.
#4 Spend Time Planning Your Business
This is also one of the steps people skip when they’re learning how to become an entrepreneur. Let’s just say this, if you aren’t willing to plan your business or to get help planning your business, it’s going to be a struggle. One of the qualities of most successful entrepreneurs is the willingness to set goals and create a plan to achieve them. Whether you get help with this step or you do it yourself, be sure to make it a priority.
I’m not talking about a business plan that you would take to the bank. I am talking about a working business plan. It should cover…
- Who your ideal client is and what you do for them?
- How much you charge for services and/or products?
- How you are going to market?
- Your sales process and much more…
I have created a super affordable business planner that will walk you step by step in this process if you haven’t already done it. Get your copy at DecisiveBusinessPlanner.com.
While it would be amazing if we were born knowing how to become an entrepreneur, the truth is that it’s like any big goal or aspiration. There are skills to learn, steps to take, and lessons to learn. If you take these four steps before you hang your “open for business” sign, you’ll be in a stronger position to succeed.
Michele Scism is a decisive, driven and committed entrepreneur who loves helping business owners build thriving, leveraged businesses both online and offline.
Michele is a leading authority on business growth, an international speaker, a best-selling author, a TV personality and the Founder of DecisiveMinds.com. She is a serial entrepreneur who knows how it feels to fail miserably at business, at one time the bank actually called demanding their $1.5 million back, and also knows how it feels to sign the contract to sell your company for $9 million dollars. For business building tips visit DecisiveMinds.com