Prior Tips On Becoming An Entrepreneur

People often wonder, “What is it like to be an entrepreneur?” Those who ask, ask the question in a way that makes it feel like being an entrepreneur is desirable and continuously tied to capital. The truth can be a rude awakening. There is nothing desirable about being an entrepreneur, and it is not for everyone.

Here is some advice from WEB ARTIST® on the truths of being an entrepreneur:

 

Making Tough Decisions

You will have to make tough decisions, like firing your best friend or removing a co-founder. Whatever you do, make them fast and do not let the heart get in the way of these decisions. Just make them and move on.

 

Long Work Nights

You will have long nights, work weekends and may even have some days where you do not sleep at all. Work while your competitors sleep to get ahead!

 

There Will ALWAYS Be Haters

These are folks that do not have the courage to become entrepreneurs and are hating because you took the risk. Ignore them and just keep charging forward. Just be careful that you do not start taking constructive criticism as a form of hate.

 

Being An Entrepreneur Does Not Guarantee Success.

You will fail! If you do not fail, it is because you are not taking enough risk. The first time you fail it might be scary. You might feel helpless and hopeless; however, you always pick yourself up. Why? Because you have to. When you are not frightened by failure, the world is yours to conquer. The sooner you fail and understand that you are capable of picking yourself back up, the better. As soon as you see that your life did not fall apart when you failed, you will free yourself of that silly fear that the unknown brings.

Suddenly, the unknown will not scare you; you will be able to fall into it and take the chances that are right there in front of you.

 

In The Effort To Be Supportive, Most People Would Not Tell You The Truth About Your Ideas

Often, friends and family will not want to discourage you, and will not tell you what you need to hear. Be careful not to let this feedback drive your decisions. If you are not getting negative/challenging feedback, be concerned. No one, and no business, is perfect, and there should always be room for improvement.

 

Nobody But You Or Your Co-founder(s) Will Care About Your Idea Until You Have Something To Show For It

Less speaking, more showing. Give them a reason to pay attention. Remember less is more.

 

Care About Your Company

No employee, even if they have some equity, will ever care about your company as much as you do. If a manager does not care, it comes across, but managers often take their cue from their boss. If you want to people to love your business, show them why.

 

Be Careful With Raising Money

It is not as easy and glamorous as you think. Make sure you let the business organically bring you to this crossroad, and be careful to not get ahead of yourself with this. Do not be so eager to accept funding from investors that you skip the fine print, there are consequences.

 

Positives Or Negatives.

MVPs (minimum viable products) can give you false positives or false negatives. Make sure your MVP is properly defined and that you are properly interpreting the results. A minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product’s initial users.

 

Being A Co-Founder

A person who, in combination with one or two other individuals, is involved in starting a business, charity or some other enterprise. Each person involved in the creation of the entity is considered a co-founder. Get the co-founder equity stuff out of the way at the beginning, and be careful in being egalitarian. It is best to get professional help in these early stages.

 

Take Risks, Risk Everything

Risk everything in business, except Family, Health, Friends and Spirit.

The key ingredient is “Risk everything”. All in, no going back, no plan B, sell your house if it does not work. That is not easy. That single element – everything – separates the entrepreneurs from the business owner. Being an entrepreneur takes more than knowing how to get a VAT number.

 

You Will Come Back Stronger

There will be days where you feel burned out and unproductive. Walk out of the office, go hang with friends or family, take a nice hike, or simply take a few days off. It is OK, you will come back stronger.

 

Luck Will Play A Big Role In Your Success

Just remember that you can create your own luck by working tirelessly at what you are passionate about. Even Richard Branson failed at least 15 times at business Start-Ups, even with an established brand. Luck always has its place.

 

Do Not Give Up

There are days you will want to QUIT and go back to a corporate job. Do not think you have lost your entrepreneurial spirit when you have these days. It is normal, every entrepreneur has these days.

 

Are You An Entrepreneur Looking To Take The Next Step Toward Success?

 Contact Our team At WEB ARTIST To Book A Consultation.