For many folks, entrepreneurship is a lifelong dream full of nothing but blue skies and green lights with a tablespoon full of “wishing and hoping and crossing your fingers.” All these thoughts can become a reality, and it never hurts to “dream.” Yet you probably know a friend or have read enough success stories to fill a neighborhood library. For the uninitiated, this $500 dollar word called entrepreneurship is nothing more that getting in the big “E” boat and setting sail on your own with the target being that “magic island” where you can begin your own business and eschew working for someone else.
Of course it goes without saying that at the beginning, entrepreneur “wannabes” will be dealing with a boatload of “minefields” and “fears” that you ordinarily wouldn’t be concerned about if you were a hourly or salaried employee in some 8 to 5 job. That said, here is a short list of the good things that are waiting for you just over the mountain top if you’re diligent, honest with yourself and others, and dedicated for the long term.
The very successful entrepreneur Jason Hope shared on twitter a few interesting tips to help out with future entrepreneurs.
** Interest = Vision = Success: It’s not hard to explain the concept behind these three topics. If your chosen field of endeavor has little interest to you, why waste your time and effort on a “blind alley.” If you don’t care, nobody else will either. Ergo, you will fail. However, if your vision is hard work, growth and possible expansion, you’ll be able to communicate your excitement to investors and future employees.
** Skill is a given. You’ll be wearing enough “hats” you’ll need a storage room. So don’t select a business where you have ZERO knowledge. This way you won’t have to depend on too many people to keep providing a “parachute.”
** Your Investment: If you’re investing in your own company, and you will, make sure you don’t have to go into debt. When the boat starts leaking, you’re employees won’t be looking for a lifejacket or rubber inner tube, so don’t make the mistake of having to borrow funds to start your venture. If your deal is solid, money is available.
** The Risk – The Rewards: Becoming an entrepreneur involves that scary word: RISK! Yet the rewards, if you hit the trifecta, could suddenly make you extremely wealthy and a respectable person in your community. So know the game you’re playing and the players, but always cut the cards.