The first step that you need to take before embarking on the potentially life-enriching step of becoming an entrepreneur is determining whether this is the kind of lifestyle that you really want for the next few years.
Do Your Research
A lot of people thrive on the predictability of a 9-5 job and the knowledge that their paychecks are all but assured every two weeks. Other people find that kind of workplace environment extremely stifling.
Entrepreneurship has become something of a trend of late, and entrepreneurship has been viewed by some as a cure-all for all kinds of workplace malaise. It isn’t that. Entrepreneurship is also distinct from becoming a freelance.
A freelancer works on his or her own whereas an entrepreneur usually seeks to realize a new business idea, which entails a lot of personal and financial planning. It could also mean much more independence than you’re currently experiencing in your office job.
Being an entrepreneur isn’t a two-days-a-week job that you can squeeze in between rounds of golf and poker with the boys. It’s a serious time commitment, especially in the first couple of years.
Pick a Single Business Idea
Many would-be entrepreneurs get intoxicated with the idea of being their own boss and try to do a million things at once without focusing on any one thing. That’s not the way to go about entrepreneurship.
Find one thing that you’re really passionate about and channel all of your resources into making your new business as strong as you can from the start. If you have five or six different business ideas bouncing around in your head, then ask family and friends for their input. Ask professionals in the field.
Make sure that your business idea is actually solving a current problem that people are having in a field that you’re passionate about.
Start Building Your Network
Entrepreneurs who wind up making it usually have a robust network from the start and at least one mentor. A business mentor can provide expert, timely advice and provide a virtuous circle in terms of opening up more networking possibilities.
These days Rolodex have fallen out of fashion, but success will take networking with advisors, investors, and professionals in the field.