10 Tips to Make it as an EntrepreneurAre entrepreneurial skills intrinsic in everyone or are the skills learned? I believe it’s a combination of both. If you grew up in a family where both parents worked a salaried job, you may not have had the built-in role models that many natural born entrepreneurs were fortunate to have experienced; therefore it may be necessary to learn the skills to succeed in the business world.
Let’s review the definition of entrepreneur from Wikipedia.com: An entrepreneur is a person who undertakes and operates a new enterprise or venture and assumes some accountability for the inherent risks. Business entrepreneurs often have strong beliefs about a market opportunity and are willing to accept a high level of personal, professional or financial risk to pursue that opportunity.
Natural entrepreneur
My father, serial entrepreneur Joop Muusers, is an example of someone who was born to take risks. Dad was a Dutch immigrant who boarded a ship offering free passage to Australia in the 1950’s, during the quest to populate the country. This act in itself was very risky. Dad was very nearly fired from every job he had in his new country until he convinced his brother Arnold to immigrate to Australia and help him start a tomato growing business. From there he began many entrepreneurial endeavors from trucking company owner, opal dealer, fine jewelry salesman, jewelry storeowner, and finally flower grower. He now lives in Thailand and exports his orchid-like plants to Holland. He could never have withstood the rigors of a nine to five office job.
Freedom
My father taught me that there is nothing better in life than having your own business. I learned that one of the great benefits of self employment is freedom. The freedom to set your own rules, control your own future, and decide what it is you want to create in your life. One of my fondest teenage memories is of Dad showing me how to read a financial statement, his explanation of the various business expenses, and how to analyze profitability. I remember him turning to me and saying, “I make this business happen. I make important decisions daily and I go home happy knowing that this is something I built”.
Tips to "Make it" as an entrepreneur:
I am often asked whether a person who has worked in corporate America their entire life is suited to becoming a business owner. I have pondered this question and created the following tips to help make self-employment a success.
Be willing to work long hours for little profit for the first two to three years. Accumulate a cash reserve to see you through the tough times. Be fully committed to making your endeavor a success. Commit to life long learning. You will be much more likely to succeed if you are continually improving yourself. Avoid burn out by taking at least one full day off per week. Work ON your business rather than IN your business. Make sure you have a business plan and marketing plan to guide you. Do research to ensure that the free market can support your idea. Surround yourself with supportive, successful people who care about your journey to entrepreneurship. Get yourself a mentor or a coach who can help you stay on track. Be willing to take risks. This is the most important characteristic necessary for success. The phrase “where there’s a will, there’s a way” is certainly true when it comes to making it as an entrepreneur. If you are determined to make your business work, and you make it your quest in life to succeed, you can learn to become an entrepreneur.
Copyright© 2004-2010 |Suzanne Muusers - All Rights Reserved
About the author
Suzanne Muusers is a Business Coach and Business Expert based in Scottsdale, Arizona. She has owned or managed a business every year for the past 25 years. She is a credentialed member of the International Coach Federation and works exclusively with entrepreneurs and financial advisors who want to leave behind their lives as business workers to become business owners earning six figures and above annually. Suzanne is also the creator of the Two Page Mini Business Plan™ - The Secret to More Business Income and the Financial Advisor Marketing Plan E-Course - How to Get More Ideal Clients
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